What we do
Institutional investors
Equity products
AI Co-Investment Facility
Cleantech Co-Investment Facility
Impact investing at the EIF
Climate & Infrastructure Funds
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
VentureEU
EFSI Equity instrument
Single EU Equity Financial Instrument
COSME - Equity Facility for Growth
InnovFin Equity
Private equity secondary market transactions
EIF-NPI Equity Platform
ESCALAR Programme
Debt products
New ESIF ERDF Guarantee Fund initiative in Greece
EFSI Private Credit Programme
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
Skills & Education Guarantee Pilot
EREM debt products
Single EU Debt Financial Instrument
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
Inclusive finance
EaSI Financial Instruments
EaSI Capacity Building Investments Window
EaSI Guarantee Instrument
EaSI Funded 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
Normandie Garantie Agri
FAIRE - La Réunion
Auvergne Rhône-Alpes FEADER
Recovery Equity Fund of Funds of Bulgaria
Fons d’Inversió en Tecnologia Avançada (FITA) Catalonia
Dutch Future Fund (DFF)
Dutch Alternative Credit Instrument (DACI)
PORTUGAL BLUE: a new initiative for blue economy investments
JEREMIE Greece Reflows – Business Angels’ Co-Investment Equity Instrument
German Corona Matching Facility (CMF)
Portugal Growth programme
Central and Eastern European Technology Transfer (CEETT)
Croatian Growth Investment Programme (CROGIP) II
Croatian Growth Investment Programme (CROGIP)
Croatian Venture Capital Initiative 2 (CVCi 2)
AGRI Italy Platform Uncapped Guarantee Instrument
DISPOSITIF INSTRUMENTS FINANCIERS BOURGOGNE FRANCHE-COMTÉ
ALTER’NA – ESIF EARFD Nouvelle-Aquitaine
Baltic Innovation Fund 1 (BIF 1)
Baltic Innovation Fund 2 (BIF 2)
Central Europe Fund of Funds (CEFoF)
Croatian Venture Capital Initiative (CVCi FoF)
Competitiveness Fund-of-Funds for SMEs in Romania
The Cyprus Entrepreneurship Fund (CYPEF)
Deep and Comprehensive Free Trade Area Initiative East Guarantee Facility (DCFTA)
EU4Business Capped Guarantee
Dutch Growth Co-Investment Programme
Dutch Venture Initiative (DVI-II)
ESIF Fund-of-Funds Greece
EAFRD FoF Portugal
EAFRD FoF Romania
The ERP-EIF Facility
ERP-EIF Co-Investment Growth Facility
The LfA-EIF Facilities
The German Future Fund (GFF) - EIF Growth Facility
INAF – French National Agricultural Initiative
ESIF Energy Efficiency and Renewable Energy Malta
Regional Fund-of-Funds Romania
ESIF Fund-of-Funds Czech Republic
The Silesia EIF Fund of Funds
La Financière Région Réunion
The EIB Group Risk Enhancement Mandate (EREM)
EstFund
Call for Expression of Interest for FOSTER II
Greater Anatolia Guarantee Facility (GAGF)
G43 - Anatolian Venture Capital Fund Project
InvestBG Equity Instrument
JEREMIE
Romania Recovery Equity Fund of Funds
JEREMIE Romania Reflows – Equity Instrument
Luxembourg Future Fund 1 (LFF)
Luxembourg Future Fund 2
Mezzanine 'Fund of Fund' for Germany (MDD)
NEOTEC resources
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)
EAFRD FoF Greece
Irish Innovation Seed Fund (IISF)
RRF Czech Republic Fund of Funds

InvestBG Equity Instrument

  •  
    Date: 20 March 2019 - 31 December 2023

InvestBG banner image

The InvestBG Equity Instrument (“Facility”) is designed to support one of the strategic policy objectives of the Bulgarian Ministry of Economy of fostering investments in sectors that create high value added and increase the overall competitiveness of the economy through the creation and development of high-growth and innovative SMEs by facilitating their access to equity financing.

TThe budgetary resources under the Facility originate from reflows from the JEREMIE initiative supported from the European Regional Development Fund and national co-financing in the 2007-2013 period.

Through the InvestBG Equity Instrument, and acting on behalf and in the ultimate benefit of the Government of Bulgaria, EIF will:

  1. Provide capital commitments to selected venture capital and private equity funds that include Bulgaria as part of their geographic focus (Primary Fund Window) – total budgetary allocation of EUR 50m.
    When making a commitment under the Primary Fund Window, EIF shall in addition co-invest alongside the Facility with other resources under its management. Such co-investment will represent an amount equal to at least 50% (with a target of 100%) of the amount committed from the Facility. In order to be eligible under the Facility, applicants shall commit to invest in Eligible Final Recipients at least 1.5x (with a target of 2x) the amount of the relevant Facility commitment drawn down for the purpose of investments.
  2. Co-invest, on a deal-by-deal basis, alongside selected venture capital and private equity funds investing in Bulgaria (Co-Investing Window) – total budgetary allocation of EUR 10m.
    When making an investment under the Co-Investing Window, EIF will not have to co-invest alongside the Facility from other resources under its management. The matching of the resources invested under the Co-Investing Window will be effectively provided by the VC and PE funds and/or other private investors which participate in the respective co-investment round, provided that EIF (taking together resources from the Facility and potentially any other resources under its management) will not participate in more than 50% of a co-investment round.

How to apply

Call for expression of interest

The deadline for application has been extended to 31 December 2023. The EIF selects intermediaries after a full assessment and due diligence process following its standard procedures. For more information about the eligibility and exclusion criteria for financial intermediaries please refer to the call documents, and the applicable EIB Group policies below:

Relevant EIB Group policies that apply to this call

  • Where EIF Anti-Fraud policy is mentioned, please take note of the updated EIB Group Anti-Fraud policy
  • Where Non-Cooperating Jurisdiction is mentioned, please take note of the updated definition as part of the EIB Group NCJ Policy
  • Additionally, the following policies are applicable:
    1. EIB Group Anti-Money Laundering and Combating Financing of Terrorism Policy
    2. EIF Transparency Policy
    3. Guidelines on EIF Restricted Sectors
    4. EIF Environmental, Social and Corporate Governance (ESG) Principles
    5. EIB Group Whistleblowing Policy
  • The following restrictive measures also apply:
  • EU Restrictive Measures; and/or
  • any economic or financial sanctions adopted from time to time by the United Nations and any agency or person which is duly appointed, empowered or authorised by the United Nations to enact, administer, implement and/or enforce such measures; and/or
  • any economic or financial sanctions adopted from time to time by the United States Government and any department, division, agency, or office thereof, including the United States Department of the Treasury Office of Foreign Asset Control (OFAC), the United States Department of State and/or the United States Department of Commerce; and/or
  • any economic or financial sanctions adopted from time to time by the United Kingdom, and any UK government department or authority, including, inter alia, The Office of Financial Sanctions Implementation of His Majesty's Treasury and the Department for International Trade.
Note: Following the recent withdrawal of the United Kingdom from the European Union, we are updating the relevant EIF.org pages.

 
 

Copyright ©

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