Established in 1994, the European Investment Fund (EIF) is a European institution with a specific remit to support the creation, growth and development of Small and Medium-sized Enterprises (SMEs). It intervenes by means of venture capital and guarantee instruments, either drawn from its own funds or within the framework of mandates entrusted to it by the European Investment Bank (EIB) or the European Union.

The EIF acts independently and commercially under market conditions, and targets appropriate returns for its shareholders. It conducts its activities in European Union Member States as well as in countries that have applied to become a member of the Union and in respect of which the Accession process has commenced.

Venture Capital Activity

In its role as the venture capital arm of the EIB Group, the EIF deploys the significant financial means at its disposal to support the emergence of a performing and homogenous European venture capital market. In doing so, the EIF is committed to supporting leading European venture capital funds, particularly those involved in early stage advanced technologies.

Guarantee Activity

The EIF's guarantee instruments facilitate access to debt finance for SMEs through the intermediation of a wide range of banks and financial institutions. The EIF has the status of a Multilateral Development Bank under the European Union's solvency ratio directive. Financial institutions benefiting from EIF guarantees are thus allowed to allocate capital to those operations at a rate of 20% instead of 100%.

COMPOSITION

The EIF is a Public-Private Partnership whose tripartite shareholding includes the EIB (60%), the European Union represented by the European Commission (30%), and and financial institutions from the 15 Member States of the European Union (Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Spain, Sweden, United Kingdom).

STRUCTURE

A Chief Executive manages the EIF on a day-to-day basis. The Chief Executive reports to a Board of Directors, which brings together representatives of the three shareholder groups 10-12 times a year. Apart from its supervisory role, the Board of Directors is responsible for approving all EIF operations.

The Shareholders themselves meet once a year in the General Meetings, in particular to approve the Annual Report and Accounts as audited by the Audit Board.

GENERAL PUBLICATIONS