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
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
Croatian Growth Investment Programme (CROGIP)
AGRI Italy Platform Uncapped Guarantee Instrument
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
Deep and Comprehensive Free Trade Area Initiative East Guarantee Facility (DCFTA)
Dutch Growth Co-Investment Programme
Dutch Venture Initiative (DVI-II)
EAFRD FoF Portugal
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)
EstFund
FOSTER TPE-PME Occitanie
Greater Anatolia Guarantee Facility (GAGF)
G43 - Anatolian Venture Capital Fund Project
InvestBG Equity Instrument
JEREMIE
JEREMIE Romania Reflows – 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)

EIF signs fund agreement with Imprimatur Capital in Latvia

  •  
    Date: 14 June 2010
Eraf EU

The EIF and Imprimatur Capital have established the first specialist technology seed and start-up fund in Latvia attracting private capital to the JEREMIE initiative in a very difficult venture capital market environment. Private investors in the start-up fund are local pension funds managed by DnB NORD Fondi and LKB Krajfondi, local and foreign private investors. 

The Seed and Start-up capital funds will provide early-stage financing for innovative micro, small and medium size technology companies with international growth potential. The Seed fund of EUR 3 million will provide short-term proof-of-concept financing of up to EUR 100,000 per qualifying company, and the Start-up fund launching with a first closing value of EUR 4.2 million may invest up to EUR 400 000 per company, with the aim of building over several years a portfolio of around 10 technology growth companies in Latvia. TarSignatureget sectors include IT, telecommunications, clean energy and life science. 

Hubert Cottogni, Head of Regional Business Development, European Investment Fund: "EIF is pleased to see emergence of one more equity player on Latvian market. In this case in a particularly important - and at the same time underserved - technology-oriented seed and start-up segment. We believe this will be a particularly valuable addition to our portfolio; stimulating growth of companies where it is most important - at their inception." 

Toby Moore, Managing Partner of Imprimatur Capital Fund Management, stated "We have already received a lot of interest from science research institutions and technology entrepreneurs seeking seed and start-up capital for their innovative technology businesses. With our venture capital investment experience and international network we are looking forward to working with outstanding company founders with cutting edge technology and global ambitions.

Armands Ločmelis, Member of Board, IPAS DnB NORD Fondi: "Over last months Latvian economy shows gradual signs of recovery, and to stimulate further economic growth it is very important to invest in Latvian SMEs that create innovative products with market potential, as a result achieving also higher return for pension fund clients.

This is the fourth agreement to be signed with selected financial intermediaries under the Latvian JEREMIE Holding Fund managed by the EIF which has a value of EUR 91.5 million.

Over EUR 140 million is now available for SMEs under the JEREMIE initiative in Latvia. This figure includes additional private co-financing and will be channelled to businesses through loans and equity investments.

About JEREMIE

JEREMIE (Joint European Resources for Micro to Medium Enterprises) is a joint initiative launched by the European Commission (DG Regional Policy) and the European Investment Bank group to improve access to finance for SMEs in the EU within the Structural Funds framework for the period 2007 - 2013. JEREMIE enables the EU Member States and Regions to put money from the structural funds and also national resources into holding funds that can finance SMEs in a flexible and innovative way. Since the products will be provided on a repayment basis, funding will be reinvested and hence more SMEs will benefit from the EU resources.

EIF has currently signed eight National (Greece, Romania, Slovakia, Latvia, Lithuania, Cyprus, Bulgaria and Malta) and three Regional (in France - Languedoc Roussillon, and Italy - Campania and Sicily) Holding Fund agreements.

The new initiative aims at developing and fostering the role of entrepreneurship within the EU and help structural funds to deliver greater benefits to the market.

About EIF

EIF's central mission is to support Europe's 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 4.1bn at end 2009. With investments in over 300 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 commitment in guarantees totaled over EUR 13.6bn in over 160 operations, positioning it as a major European SME guarantees actor and a leading micro-finance guarantor.

About Imprimatur Capital

Imprimatur Capital is an international seed investor in high-growth technology businesses with global market potential. To date Imprimatur Capital has invested in 23 companies in Europe, Russia and the Asia Pacific region, in sectors including enterprise software, electronics, medical technology, homeland security and wireless/mobile. Imprimatur Capital is an active shareholder and helps its portfolio companies to grow and develop, expand into new markets, and increase in value.

Contacts:

  • David Yormesor, European Investment Fund, Marketing Communications, tel +352 426 688 346, d.yormesor@eif.org - general information requests on JEREMIE: inforbd@eif.org
  • Toby Moore, Managing Partner, Imprimatur Capital Fund Management, tel +371 67 365 275; tm@impcap.com

 
 

Copyright ©

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