Deadline: 31 January 2017
European Investment Fund (EIF) in cooperation with the European Commission has launched a call for expression of interest to select interested fund-of-funds promoters under the Pan-European VC Fund-of-Funds Programme.
Objectives
- Attracting and/or increasing investment opportunities of institutional private investors (from both inside and outside the EU) in the EU VC market;
- Improving access to finance for companies seeking VC funding operating in the EU Member States and Associated Countries
- Enabling the VC funds supported by the Fund-of-Funds(s) to reach a greater size than the average size of VC funds present in the EU.
Funding Information
- The aggregate of capital commitments EIF envisages making available to the Fund-of-Funds under the Programme amounts to at least EUR 300 million.
- The maximum EIF commitment to any single Fund-of-Funds shall not exceed EUR 300 million.
Eligibility Criteria
The Fund-of-Funds Promoter(s) must submit and sign the Expression of Interest and demonstrate clearly the following in their applications:
- while the Fund of Fund vehicle shall have to be established in the EU the Fund-of-Funds Promoters are only required to have, or be prepared to establish, a substantial presence in the EU, which will at least include, to have, or be prepared to establish, in the EU an office of the Fund-of-Funds’ manager that is an active investment office which is staffed with senior investment professionals at least one of whom is a member of the Fund-of-Funds’ manager investment committee (or similar decision-making body) responsible for making the investment decisions for the Fund-of-Funds)
- the Fund-of-Funds investment proposal meets the features set out in Schedule I of the Call,
- if the Fund-of-Funds is operational, being, or being prepared to become AIFMD-compliant;
- the Fund-of-Funds promoters have an experienced investment team dedicated to the Fund-of Funds with a proven track record of success in:
- attracting investors, particularly private institutional investors;
- managing funds-of-funds or similar investment programmes;
- identifying investment opportunities, investing in and creating value in VC funds and/or in the successful operation of VC funds;
- the Fund-of-Funds Promoters do not include in their business activity and in the Fund-of-Funds’ business activity any activity which would make an investment made under the programme not compatible with the Guidelines on the EIF Restricted Sectors or Horizon 20208 as amended from time to time.
How to apply
Interested applicants can submit their expression of interest either by e-mail or by registered mail at the address given on the website.
For more information, please visit European Investment Fund.