European Innovation Council Equity Fund for high-impact innovation
News from EU Innovation area: European Innovation Council Equity Fund for high-impact innovation.
“The EIC Fund, which will provide equity from €0.5m to €15m to breakthrough innovation companies selected for EIC Accelerator blended finance support (grant and equity), has become an official entity. This is the first time the European Commission will make such direct equity investments in companies, with ownership stakes expected to be in general from 10% to 25% in start-up companies. The European Investment Bank, as advisors of the EIC Fund on behalf of the European Commission, will manage the ownership stakes of the European Commission.
The EIC Fund fills the funding gap at the start-up stage where the EU venture capital market underperforms compared to the global venture capital market.”
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