The Vice-President of the European Investment Bank EIB, Ioannis Tsakiris, the Alternative Minister of National Economy & Finance, Nikos Papathanasis and the Chief Executive of the EIB, Marjut Falkstedt have signed the agreement for the new EquiFund II, to be implemented through the Programme “Competitiveness 2021-2027”.
With a starting budget of €200 million, EquiFund II will support: a) entrepreneurship ventures (biotechnology, pharmaceuticals, medical instrument businesses etc.); and b) groups aiming to generate measurable social benefit (including solutions for social and/or environmental challenges) for specific social groups or society overall, concurrently generating value for investors.
It is addressed to micro-, small and medium enterprises and midcaps (at all stages in their development), as well as Technology Transfer projects in thematic fields that were specified to cover the Life and Health Sectors, Sustainable development and social innovation/entrepreneurship.
More specifically, the Fund aims to improve market conditions for investments in enterprises through Venture Capital and Private Equity Funds, in collaboration and with the joint investment of selected Financial Intermediaries and private investors.
EQUIFUND II is an act of strategic importance for the Competitiveness Programme and is co-funded by the European Regional Development Fund (ERDF) of the European Union.
To see the relevant press release of the European Investment Fund (EIF), click here
