yannis tsakiris eu finance days for smes european investment fund 20 january 2009 | athens this...
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Yannis Tsakiris
EU Finance Days
for SMEs
European Investment
Fund
20
Jan
uary
20
09
|
Ath
en
s
This presentation was prepared by EIF. The information included in this presentation is based on figures available for December 2008.Any estimates and projections contained herein involve significant elements of subjective judgment and analysis, which may or may not be correct.
EIF at a Glance
Dual Objective of Meeting EU Policy Goals & Generating a Satisfactory Return on Equity
EU specialised institution for SMEs, risk financingVenture Capital and Mezzanine (fund of funds)
Structuring and Guaranteeing portfolios of SME and microfinance loans/leases
Authorised Capital EUR 3bn EIB: 63.6%EU: 27.4 %Fin. institutions: 9 %
Geographic Focus /IntermediariesEU 27, EFTA, Candidate CountriesDistributing through Banks and Funds
AAA ratedAAA rated
Staffing, Culture and Values
Leading-edge modern institution
Adapting to changing market conditions
High standards of compliance and integrity
Main Activities and Focus
Investments in Private Equity, Venture Capital and Mezzanine Funds with SME focus
Guarantee and Securitisation operations through financial intermediaries for SME lending
Local market development and private resources mobilisation through local fund of funds (France, Spain, Portugal, Turkey etc)
JEREMIE (SME access to finance)
JASMINE (Microfinance)
Technology Transfer
Cleantech & Environmental Fund Investments
Under EIF Management at end of December 2008
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Total
signatures
New signature
s
in 2007
New signatures
in 2008
Vehicles
VENTURE CAPITAL
EUR 4.8bn*
EUR 0.5bn*
EUR 0.4bn*
appr. 300
funds
GUARANTEESEUR 13.0bn
EUR 1.4bnEUR 2.1bn
appr. 200
operations
TOTALEUR
17.8bn EUR 1.9bn EUR 2.5bn
*Before capital repayments
Investing a Broad Range of Public and
Private Resources
To be committed to venture capital funds and guarantees
in the EU and Candidate Countries…
…and generate a substantial return on equity
EUR 4bnRevolving
EUR 1.1bn (CIP)
Up to EUR 1bn
BMWi - ERP
DAHLIA
EUR 965mAt 31 Dec 2007
EUR 450m NEOTEC
Competitiveness & Innovation Framework Programme (CIP)
Purpose
Encourage the competitiveness of European enterprises
Support innovation and entrepreneurship activities
Provide better access to finance
Promote the increased use of renewable energies and energy efficiency
The European Commission has mandated the management of the CIP financial instruments to EIF
CIP budget - total envelope for VC and Guarantees : EUR 1.1bn to be invested over a period 2007-2013
COUNTRIES COVERED BY CIP GIF
13 DEALS SIGNED for over EUR 144m*
Competitiveness & Innovation Framework Programme (CIP)
*as of 31/12/2008
Inventure Fund Ky (ex Holtron)Dritte SHS Technologie GmbH & Co. KGPinova Fund IFountain Healthcare Partners Fund IAlbuquerque FCRChalmers Innovation FundPentech Fund IIUMIP-MTI TTA Fund360 Capital OneBaltcap Private Equity FundCapricorn Cleantech FundSerena CapitalWHEB Ventures Private Equity Fund II
CERSAFDP CFFDP MF –KfW Siagi Growth –Siagi TransmissionSlovene Enterprise FundSOCAMA PESESOCAMA PSTRUniCredit Bank HungaryADIE – MCMicrobank La Caixa
COUNTRIES COVERED BY CIP GUARANTEES12 AGREEMENTS SIGNED for over EUR
1,309m*
Competitiveness & Innovation Framework Programme (CIP)
*as of 31/12/2008
JEREMIE: Increasing the Deployment of Self-Sustaining Financial Instruments for SMEs
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The Joint European Resources for Micro to Medium Enterprises
• Joint initiative of the EU (DG Regio & EIB Group) launched in October 2005
• Joint also because it potentially combines resources from the EU, National Public Authorities, EIF, EIB and/or other financial institutions
• Uses European Regional Development Funds for enhancing SME access to finance through financial engineering instruments (venture capital, guarantees, debt)
• “Revolving” nature of financial instruments
• Creates leverage
• Encourages move away from grant dependency
JEREMIE – Current State of Play
JEREMIE achievements: 7 mandates signed (EUR 700 m) + additional EUR 220m in the ST pipeline
Country Date Amount in EUR m
Greece June 2007 100
RomaniaFebruary
2007100
Latvia July 2008 183
LithuaniaOctober
200880
Languedoc-Roussillon (F)
October 2008
30
Campania (I)
December 2008
90
SlovakiaDecember
2008121.2
Bulgaria To be signed in 2009
Cyprus To be signed in 2009
EUR 100m for Equity & Loan instruments to Greek SMEs
Signature of the Funding Agreement between Hellenic Republic and EIF on the 26th June 07
Implementation phase to start early 2009
EIF office in Athens
JEREMIE Greece
32 / 42
European Investment Fund
Herodou Attikou 1,
106 74 Athens
GREECE
Tel: 210 68 24 518
Fax: 210 68 24 520
www.eif.org
Contact details
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