Programmes deployed by the EIF in Germany
The EIF has deployed capital in Germany under a wide range of programmes and mandates in addition to those highlighted on pages 7-9. Here are the details of further EIF initiatives:
EIF manages the LfA-EIF Facility, funded by LfA Förderbank Bayern, EIF, LfA Förderbank Bayern, EIB and other EU resources (COSME, InnovFin). The LfA-EIF Facility invests in VC funds and co-invests with selected business angels in Bavaria. The facility covers all technology areas (ICT, life sciences, energy, emerging and converging technologies). Since its inception in May 2009, the LfA-EIF Facility has committed more than EUR 150m in some 31 VC funds and with seven business angels
InnovFin aims to facilitate and accelerate access to finance for innovative businesses and other innovative entities in Europe. It covers both debt and equity financing. The InnovFin SME Guarantee (SMEG) offers a 50% uncapped guarantee or counter guarantee to financial intermediaries to allow them to provide debt financing on more favourable terms to innovative SMEs and small mid-caps.
InnovFin Equity provides equity investments and co-investments to or alongside funds focusing on companies in their pre-seed, seed and start-up phases operating in innovative sectors.
COSME is the EU programme for the Competitiveness of Enterprises and SMEs. It facilitates access to finance for SMEs, promotes competitiveness and encourages an environment favourable to entrepreneurs. Set up in 2014 by the European Commission with a budget of EUR 2.3bn, COSME is deployed by the EIF through loan guarantee facilities (COSME LGF) and equity investments (COSME Equity Facility for Growth or EFG).
The European Fund for Strategic Investments (EFSI) was launched in July 2015 as a joint initiative of the EU and the EIB Group. EFSI is the financial pillar of the EU’s Investment Plan for Europe and has two components: the Infrastructure and Innovation Window managed by the EIB and the SME Window implemented by the EIF.
The EIB Group Risk Enhancement Mandate (EREM) is used to underpin an array of financial instruments deployed by the EIF, including the ABS Credit Enhancement Initiative, which focuses on providing increased cover for mezzanine tranches of SME securitisation transactions, the Social Impact Accelerator Initiative, the Loan Funds Instrument, the SME Initiative and the Cooperative Banks and Smaller Institutions (CBSI) window rolled out in late 2016.
Share this publication on social media