What are the benefits?

The Baltic Innovation Fund (BIF) is a Fund – of – Fund initiative launched by the EIF in close co-operation with the Governments of Lithuania, Latvia and Estonia in 2012 to boost equity investments made into Baltic Small and Medium sized enterprises (SMEs) with high growth potential.

What companies are eligible?

Micro, small and medium enterprises may apply to the following fund managers: BaltCap, Livonia Partners, BPM Mezzanine and Karma Ventures.

What is the maximum amount?

BIF will invest EUR 130 million into private equity and venture capital funds focusing on the Baltic States over the next four years through a ‘fund of funds’ process to attract additional private finance and implement the best market standards for equity investing in businesses. INVEGA will invest 20% of the fund BIF size. The corresponding national agencies from Latvia and Estonia – ALTUM (Latvia) and KredEx (Estonia) will also contribute 20%, while the EIF will invest the remaining 40% of this fund.

How does it work?

Currently, the Fund invested into 5 funds: BaltCap Private Equity Fund, BaltCap Private Equity Fund II, BPM Mezzanine Fund, Livonia Partners Fund and Karma Ventures Fund I. Investments will be made until the end 2018.

More information about BIF

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