What we do
Equity products
Technology Transfer
European Angels Fund (EAF) - Co-investments with Business Angels
Venture capital
The Social Impact Accelerator (SIA)
Lower mid-market
Mezzanine Facility for Growth
Pan-European Venture Capital Fund(s)-of-Funds programme
EFSI Equity instrument
Single EU Equity Financial Instrument
COSME - Equity Facility for Growth
InnovFin Equity
Private equity secondary market transactions
EIF-NPI Equity Platform
Debt products
AGRI Guarantee Facility
AGRI Italy Platform Uncapped Guarantee Instrument
Credit enhancement
Cultural and Creative Sectors Guarantee Facility (CCS GF)
ENSI - Securitisation Initiative
Erasmus+ Master Loan Guarantee Facility
EREM debt products
Single EU Debt Financial Instrument
COSME - Loan Guarantee Facility
InnovFin SME Guarantee Facility
Documentary Finance Facility – Bulgaria
The SME Initiative
The SME Initiative Bulgaria
The SME Initiative Finland
The SME Initiative Italy
The SME Initiative Malta
The SME Initiative Romania
The SME Initiative Spain
Asset Management Umbrella Fund (AMUF)
Inclusive finance
EaSI Financial Instruments
EaSI Capacity Building Investments Window
EaSI Guarantee Instrument
European Progress Microfinance Facility
Entrepreneurs supported through Progress Microfinance
European Fund for Strategic Investments (EFSI)
How does EIF contribute to EFSI
How to apply for EFSI financing
Regional Development - Country and sector-specific initiatives
AGRI Italy Platform Uncapped Guarantee Instrument
ALTER’NA – ESIF EARFD Nouvelle-Aquitaine
Baltic Innovation Fund (BIF)
Central Europe Fund of Funds (CEFoF)
Croatian Venture Capital Initiative (CVCi FoF)
Competitiveness Fund-of-Funds for SMEs in Romania
Deep and Comprehensive Free Trade Area Initiative East Guarantee Facility (DCFTA)
Dutch Growth Co-Investment Programme
Dutch Venture Initiative (DVI-II)
EAFRD FoF Romania
European Recovery Programme (ERP)
ERP-EIF Co-Investment Growth Facility
INAF – French National Agricultural Initiative
Regional Fund-of-Funds Romania
ESIF Fund-of-Funds Czech Republic
ESIF Fund-of-Funds Greece
The Silesia EIF Fund of Funds
La Financière Région Réunion
The EIB Group Risk Enhancement Mandate (EREM)
Greater Anatolia Guarantee Facility (GAGF)
G43 - Anatolian Venture Capital Fund Project
InvestBG Equity Instrument
LfA-EIF Facility
Luxembourg Future Fund (LFF)
Mezzanine 'Fund of Fund' for Germany (MDD)
Polish Growth Fund of Funds (PGFF)
Portugal Venture Capital Initiative (PVCi)
Scottish-European Growth Co-Investment Programme
Slovene Equity Growth Investment Programme (SEGIP)
Swedish Venture Initiative (SVI)
Turkish Growth and Innovation Fund (TGIF)
Western Balkans Enterprise Development & Innovation Facility (WB EDIF)
Croatian Growth Investment Programme (CROGIP)

EU supports over EUR 200m for businesses in Bavaria following EIF and LfA agreements

    Date: 06 February 2015

The EIF and LfA Förderbank Bayern (LfA) have signed a COSME loan guarantee agreement and a joint equity initiative extension agreement with funding from the European Union to support Small and Medium-sized Enterprises (SMEs) in Germany. The COSME agreement with LfA will provide risk-sharing to on-lending banks allowing them to substantially increase loan volumes to SMEs with limited collateral, including start-ups, and will help to generate a new portfolio of loans worth up to EUR 150m over the next 3 years. Over 1,200 companies are expected to benefit from this transaction.

The EIF also signed a EUR 50m extension of the LfA-EIF equity facility which will increase from EUR 100.0m to EUR 150m. The LfA-EIF facility is a fund-of-funds which invests in venture capital funds and co-invests with selected business angels in Bavaria under the European Angels Fund Germany. The LfA-EIF equity facility covers all technology areas (ICT, life sciences, energy-related, emerging and converging technologies) and EIF manages the facility on behalf of the LfA Förderbank Bayern (LfA).

Speaking at the signature ceremony in Munich, EIF Secretary General Maria Leander, said: “I am delighted to be signing the first COSME agreement in Germany and an extension of the joint equity facility. LfA is one of EIF’s long-term partners and I am confident that they will ensure that these new agreements benefit SMEs and contribute to stimulating growth and innovation in Bavaria”.

LfA Chairman Dr. Otto Beierl commented: “We are very pleased to extend the cooperation with the EIF and are absolutely positive about the further success. This broad collaboration provides new european means for start-ups in technology areas as well as for Small and Medium-sized Enterprises in Bavaria.”

About the EIF

The European Investment Fund's (EIF) 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 and growth capital, guarantees and microfinance 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. EIF’s total net commitments to private equity funds amounted to over EUR 7.9bn at end 2013. With investments in over 435 funds, 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. EIF’s guarantees loan portfolio totalled over EUR 5.6bn in over 300 operations at end 2013, positioning it as a major European SME guarantees actor and a leading micro-finance guarantor.

About LfA

The LfA Förderbank Bayern, established in 1951, is the specialized state-owned development bank for the promotion of the economy in Bavaria in order to secure and create jobs. Therefore the LfA finances start-ups and small and medium-sized enterprises, focussing mainly on investments as well as technical innovations, environmental protection and financial restructuring. In addition the LfA is active in the field of infrastructure investments by municipalities. In cooperation with commercial banks the LfA offers financial services such as low interest loans and risk assumptions. The LfA also provides financial solutions in terms of equity capital through the affiliated BayBG Bayerische Beteiligungsgesellschaft mbH and Bayern Kapital GmbH. In 2014 the LfA granted loans with a volume of round about 2 billion Euros to approximately 5,500 Bavarian enterprises including about 1,000 cases in the start-up sector. SMEs wishing to apply for finance under the COSME programme can directly contact LfA under the following website: www.lfa.de


COSME is the EU programme for the Competitiveness of Enterprises and Small and Medium-sized Enterprises (SMEs) running from 2014 to 2020. COSME (mobilises loans and equity investments to SMEs in Europe.

The COSME Loan Guarantee Facility (LGF) funds guarantees and counter-guarantees to financial institutions to help them provide more loans and lease finance mainly up to EUR 150,000 to SMEs. This facility also includes securitisation of SME debt finance portfolios. The COSME programme also invests through the COSME Equity Facility for Growth (EFG) in equity funds that provide risk capital to SMEs mainly in the expansion and growth stages. The COSME programme builds on the success of the Competitiveness and Innovation Framework Programme (2007-2013) which helped to mobilise more than EUR 18 billion of loans and EUR 3 billion of venture capital to over 350,000 SMEs in Europe. Businesses can contact selected financial institutions in their country to get access to EU financing: www.access2finance.eu

Press contact:

- EIF: David Yormesor, tel : +352 42 66 88 346, e-mail : d.yormesor(at)eif.org

- LfA: Florian Albert, tel. +49 89 2124 2226, e-mail: florian.albert(at)lfa.de


Copyright ©

 European Investment Fund 2019 – The European Investment Fund is not responsible for the content of external internet sites.