ARTIFICIAL INTELLIGENCE EIB-EIF CO-INVESTMENT

Promoter – Financial Intermediary

SPECIAL PURPOSE ENTITY(IES)/FUND

Location

• EU Countries

Description

The project concerns an artificial intelligence focused portfolio of EIB co-investments alongside EIF-supported funds.

Objectives

The objective is to build a portfolio of EIB co-investments alongside EIF-supported companies that are active in the Artificial Intelligence sector.

Sector(s)

• Services - Financial and insurance activities

Proposed EIB finance (Approximate amount)

EUR 150 million

Total cost (Approximate amount)

EUR 1200 million

Environmental aspects

In line with the EIB's policy to ensure that the investments carried out by the co-investment facility comply with the EU acquis in the field of environment, the EIB will require the commercial fund managers to take all the requisite measures to ensure that the environmental procedures carried out by the final beneficiaries in which the co-investment facility invests comply with relevant EU legislation and applicable national legislation, provided that it is in conformity with EU rules.

Procurement

The final beneficiaries in which the co-investment facility will invest will be private companies not being subject to EU rules on public procurement and concessions. However, if after the appraisal, the EIF were to conclude that the final beneficiaries are after all subject to EU public procurement legislation (i.e. Directive 2014/24/EU where applicable), then the Bank will require the EIF to ensure that commercial fund managers take all the requisite measures to ensure that contracts for the implementation of the projects carried out by final beneficiaries will be tendered in accordance with the relevant applicable EU procurement legislation (i.e. Directive 2014/24/EU and Directive 89/665/EEC), as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.

Status

Signed - 30/11/2020