Overview of EIF mandates deployed in Portugal
The EIF has deployed capital in Portugal under a wide range of programmes and mandates as highlighted before. Here are the details of further EIF initiatives:
The European Fund for Strategic Investments forms part of the Investment Plan for Europe.
EFSI addresses market gaps in financing - whether in infrastructure, research, energy efficiency or risk finance for SMEs – and mobilises private investment into these areas. The EUR 10.5bn EFSI SME Window is implemented by the EIF on behalf of the EIB Group, and deploys the resources of the European Commission, the EIB and the EIF to improve access to finance for SMEs and small midcaps.
The European programme to promote competitiveness, under which the EIF is responsible for guaranteeing loans (COSME Loan Guarantee Facility, or LGF) and for making equity investments (COSME Equity Facility for Growth, or EFG). The programme addresses the financing needs of SMEs that are perceived as risky, perhaps due to their start-up nature, their business model or their lack of collateral.
An EU initiative to finance innovation in Europe. The EIF deploys capital under InnovFin, either through providing guarantees to financial institutions that will provide loans to innovative companies (InnovFin SME Guarantee, or SMEG), or through making equity investments and co- investments, to, or alongside, funds focusing on innovative companies in their pre-seed, seed and start-up phases (InnovFin Equity). InnovFin SMEG and InnovFin Equity also form part of the EFSI SME Window.
An EU programme for unemployment and social innovation. Under EaSI the EIF guarantees loans for microfinance and social entrepreneurship (EaSI Guarantee Instrument), as well as investing in financial intermediaries that operate in this space (EaSI Capacity Building Investments Window). These partners can go on to act as EaSI financial intermediaries.
The Portugal Venture Capital Initiative (PVCi) is a fund-of-funds designed to catalyse and support a private equity and venture capital financing ecosystem in Portugal. Through its seven investment funds, PVCi capital has reached 50 SMEs in sectors including consumer goods and retail, business and industrial products and life sciences. The fund has a total size of EUR 111.3m and the total amount invested into companies by all underlying funds already exceeds EUR 365m.
The EIF’s equity instrument in the social sector. Through SIA, the EIF takes cornerstone equity investments in social funds, which, in turn, invest to build successful social enterprises. Under SIA, a social enterprise must deliver on social impact metrics as well as financial metrics.
The Risk Capital Resources mandate, or RCR, is a mandate managed by the EIF on behalf of the EIB. It focuses on equity activity, such as early stage (venture capital and technology transfer) investments, growth and lower mid-market activities.