Release date: 9 June 2022
Promoter – Financial Intermediary
ACCEPTABLE CORPORATE(S)Location
Description
Programme loan comprising venture debt operations eligible under 1.2 Health of the InvestEU Research, Innovation and Digitalisation Window (RIDW).
Additionality and Impact
The programme loan meets the InvestEU objectives related to (a) research, development and innovation, (b) financial support to entities employing up to 499 employees, with a particular focus on SMEs, and small mid-cap companies and (c) Social investments, including those supporting the implementation of the European Pillar of Social Rights.
It involves investments for the research, development, validation, manufacturing and market-entry of innovative technologies and services addressing unmet medical and public needs, suitable to strengthen the EU's position in Health. The EIB financing therefore supports investments addressing the market failure and gaps associated with imperfect competition and incomplete markets for very innovative and early-stage technologies and services, and those associated with positive knowledge, social and environmental externalities generation.
The projects to be financed under the sub-operations will help the promoters to implement long-term innovation and commercialisation strategies usually entailing high investment risks. The financing will therefore enhance the promoters' technology edge and capabilities, and support the development and deployment of new technologies and innovative, higher value-added products and services addressing unmet medical and public health needs.
The financing structure is designed to address those high-risk investments, which are requiring long-term capital. A similar financing structure is not available from other market players at comparable terms and/or within the same crucial timeframe. The EIB expertise is also pivotal in quasi-equity transactions, as they involve a highly customised structuring component and frequent monitoring to ensure consistency with policy objectives and implementation milestones.
Objectives
Programme loan under InvestEU RIDW General Debt aiming at providing venture debt finance to eligible counterparts in all InvestEU eligible countries.
Sector(s)
- Industry - Manufacturing
- Services - Professional, scientific and technical activities
- Health - Human health and social work activities
Proposed EIB finance (Approximate amount)
EUR 750 million
Total cost (Approximate amount)
EUR 1500 million
Environmental aspects
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Procurement
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Status
Approved - 13/07/2022
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).