EIF commits to tech transfer IT fund Elaia Alpha Fund

EIF has committed EUR 20m into Elaia Alpha Fund, a French fund targeting pre-seed, seed- and early-stage companies in the digital technology sector in France. Elaia’s team have established close relationships with a number of leading research labs within applied mathematics and IT including: Ecole Normale Supérieure (Ulm, Cachan), UPMC Dauphine, PSL grouping (Collège de France, Institut Curie, etc) and the prestigious Ecole Polytechnique. These relationships have given Elaia access to innovative early stage technology investment opportunities, resulting mainly in proof-of-concept pre-seed and seed investments in ‘capsule’ companies (a fast and efficient way to capture the intellectual property rights).

EIF's investment in this transaction in which other investors including CDC Entreprises and Pactinvest (Groupe SMABTP) have also committed, will help to establish Elaia as a leading actor in the area of proof-of-concept/seed investments.

This investment segment is of critical policy relevance for EIF as it helps to create a bridge between technological advancements and institutional, corporate and VC/PE investors. EIF's investment is also a step towards reducing the seed and early stage funding gap in France.

Read more in the French press release.

About the EIF

EIF's central mission is to support Europe's micro, small and medium-sized businesses (SMEs) by helping them to access finance.  EIF designs and develops venture capital and guarantees instruments which specifically target this market segment. In this role, EIF fosters EU objectives in support of innovation, research and development, entrepreneurship, growth, and employment. The EIF total net commitments to private equity funds amounted to over EUR 6bn at end 2011. With investments in over 370 funds, the EIF is a leading player in European venture due to the scale and the scope of its investments, especially in high-tech and early-stage segments. The EIF guarantees loan portfolio totaled over EUR 4.4bn in close to 220 operations at end 2011, positioning it as a major European SME guarantees actor and a leading micro-finance guarantor.