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European Investment Fund

European Investment Fund. Forum Binary Venture Capital Bucharest September 26. EIF at a glance. WHEN? Created in 1994. EU specialised financial body for SMEs, acting through: Venture Capital (fund of funds) and Guarantees for SME portfolios. WHY ?

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European Investment Fund

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  1. European Investment Fund Forum Binary Venture Capital Bucharest September 26

  2. EIF at a glance WHEN? Created in 1994. EU specialised financial body for SMEs, acting through: Venture Capital (fund of funds) and Guarantees for SME portfolios • WHY ? • Art 2 : « pursuit of Community objectives » such as growth, employment, knowledge-based economy, innovation, regional development • Art 24 : « generate an appropriate return on its resources  » WHO ? Subscribed capital of EUR 2 billion : - 60.5 %: European Investment Bank - 30 %: European Commission - 9.5 %: 28 EU financial institutions

  3. EIF SME Portfolio Guarantees allow financial institutions to… • Expand lending capacity and market share in the SME segment and freeing regulatory capital at banks • Reduce cost of regulatory capital by benefiting from a 20% risk-weighting on EIF-guaranteed assets under the EU’s solvency ratio directive. • Reduce risk provisioning on portfolio and reduce final losses on portfolio in risk sharing schemes • Triple-A rating by Standard & Poor’s and Moody’s

  4. Venture capital- private equity portfolio: sector/stage breakdown (June 2003) EIF portfolio: stage breakdown European PE: stage breakdown EIF portfolio: sector breakdown Source EVCA

  5. VC/PE geographical breakdown (August 2003 - Eur 2.5 bn) FINLAND 4% SWEDEN 3% DENMARK 2% UK 14% NETHERLANDS 1% IRELAND 4% LUXEMBOURG 1% AAC COUNTRIES 3% BELGIUM 1% GERMANY 10% PANEU & MULTI 17% AUSTRIA 2% FRANCE 15% SPAIN 8% ITALY 12% GREECE 1% PORTUGAL 1%

  6. 2003 – 2005: The way forward • Develop operations in Acceding and Accession Countries. EIF’s activities (guarantees and VC) in the AAC will take place in close cooperation with local financial institutions and in partnership with EBRD/EIB • Develop business with shareholders, cooperation agreements or joint ventures • Management of new mandates (and increase of existing ones, e.g. EIB) • Develop new advisory services to third parties

  7. Contact us • European Investment Fund • www.eif.org • info@eif.org • Tel +352 42 66 88 1 • Fax +352 42 66 88 200

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