Since the start of 2015, the European Investment Fund (EIF) and equity funds across Europe have signed investment agreements worth over €1 billion which will provide equity financing for businesses.
These agreements, which enable fund managers to invest in promising start-ups, SMEs and midcaps, have the full support of the European Fund for Strategic Investments (EFSI), the heart of the Investment Plan for Europe. They are expected to result in overall investments of more than €12 billion across the EU.
Speaking at an event held today in Brussels, “EFSI boosts innovation”, Commission Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness, said: “The investment plan for Europe aims at providing the financial instruments that the market is not providing today so that Europe can invest in its future. This is particularly true for SMEs that are lacking equity financing in Europe, so I welcome the news that the EIF has reached €1 billion in equity financing through EFSI.” His full speech is available here.
Commissioner Carlos Moedas, responsible for Research, Science and Innovation, said: “Too many start-ups leave our continent because they can’t raise the finance to commercialise innovative ideas. That is why it is so encouraging to see the European Fund for Strategic Investments off to such a good start, investing in promising innovative projects and SMEs from biotech to renewable energy.”
Courtesy of the European Commission