European Investment Fund and Tekes Venture Capital Launch EAF Finland

The European Investment Fund and Tekes Venture Capital have launched the Finnish compartment of the European Angels Fund (EAF Finland).

The €30m co-investment fund, advised by EIF, will support financing activities to early stage companies through co-investments helping to increase the capacity of approved business angels and other non-institutional investors investing in internationally oriented SMEs.

The European Angels Fund establishes co-investment framework agreements (CFAs) granting a predefined amount of equity for co-investments upfront to each business angel for future investments. All investment decisions will be taken by the business angels and their investments will be matched on a pari-passu basis, i.e. by the same amount by the European Angels Fund.
The volumes available in total under an individual CFA typically range between €250k and €5m. As of today, the program has been launched in seven countries, reached a facility volume of c. €320m and entered into agreements with more than 50 business angels for co-investment volumes of almost €150m.
As of today, business angels have drawn an amount of c. €30m for co-investments in more than 200 SMEs.
Once rolled-out, the initiative is expected to reach a portfolio of over 1,000 SME co-investments.



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