Energy and clean tech are two of the sectors that stand to benefit from fund closings announced by equity funds in Italy, the Netherlands, Spain and France. The four funds have announced closings with total commitments of EUR 90 million from the European Investment Fund (EIF), backed by the European Commission's COSME and Horizon 2020 InnovFin programmes.

These agreements will enable fund managers to invest equity in promising start-ups, SMEs and midcaps needing early-stage to growth-stage capital investments. In particular, the Dutch EUR 50 million SET Fund II C.V. will support the market of early-stage companies in Europe active in the clean-tech sector, particularly smart energy solutions, over the next seven years. This fund plans to target around 13 clean-tech companies.

Commenting on the agreements, EIB Chief Executive Pier Luigi Gilibert said that they would allow companies in the clean-tech and other sectors to benefit from investment and industry know-how in order to scale up their businesses and boost innovation within the EU.

European Commission Vice-President Jyrki Katainen called the announcement very good news, adding that EU-funding would help to give a boost to high-potential companies active in different sectors, such as clean technology and the digital economy. “Together with private sector partners and the EIF, we are making a difference to our citizens, reinforcing investor confidence throughout Europe and creating growth and jobs,” he said.

The European Investment Fund's (EIF) is part of the European Investment Bank group. Its central mission is to support Europe's micro, small and medium-sized businesses by helping them to access finance. For information on how to apply for loans and venture capital supported by the European Union click here.

For more information: http://www.eif.org/what_we_do/equity/news/2016/EUR200m_cosme_innovfin.htm