Release date: 9 June 2022
Promoter – Financial Intermediary
ACCEPTABLE CORPORATE(S)Location
Description
The project refers to a programme loan for investments comprising Thematic Venture Debt (Equity Type) operations eligible under the Thematic Innovation - Research, Innovation and Digitalisation Window (RIDW) InvestEU Window, including: 1.1. Health Innovation; 1.2. Future Tech; and 1.3 Areas of strategic importance. The programme loan will be implemented in EU Member States and the investments to be financed are expected to be implemented within the period 2022-2028, unless the facility is extended.
Additionality and Impact
The programme loan concerns the investments for the development of innovative technologies suitable to strengthen the EU's position among Thematic Innovation as defined in Invest EU. More specifically in the fields of: (a) research, development and innovation, (b) the development, deployment and scaling-up of digital technologies and services, especially digital technologies and services, including media, online service platforms and secure digital communication, that contribute to the objectives of the Digital Europe Programme, (c) social investments, including those supporting the implementation of the European Pillar of Social Rights, (d) the development of the defence industry in order to contribute to the Union's strategic autonomy, (e) Space, in particular in relation to the development of the space sector in line with the objectives of the Space Strategy for Europe. Finally, the programme loan concerns financial support to entities employing up to 499 employees, with a particular focus on SMEs, and small Mid-Cap companies.
The EIB financing therefore supports investments addressing the market failures and gaps associated with imperfect competition and incomplete markets for very innovative and still market-entry stage technologies, and those associated with positive environmental, social and knowledge externalities generation.
The sub-projects concerning the operations under this Programme Loan are expected to be sound, properly managed and implemented by competent and knowledgeable management and development teams, which will make possible implementing them, delivering the expected results and addressing the relevant market failures.
The financing structure under this equity-type operation is designed to address high-risk investments that are requiring long-term capital, so the EIB is additional in terms of both maturity and volume. A similar long-term financing structure is not available from other market players at comparable terms and/or within the same crucial timeframe. The EIB's expertise is pivotal in quasi-equity transactions as they involve a highly customised structuring component, a key element of this innovative financing, and frequent monitoring to ensure consistency with policy objectives and implementation milestones.
Objectives
Programme loan under InvestEU RIDW Thematic Innovation 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 499 million
Total cost (Approximate amount)
EUR 1000 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).