EstFund

Overview:

• The European Investment Fund (EIF), KredEx and the Estonian Ministry of Economic Affairs and Communications have signed an agreement forming a €60 million risk capital fund-of-funds, EstFund.
• EIF is part of the European Investment Bank group with a central mission to support Europe's SMEs by helping them to access finance.
• KredEx is an Estonian financial institution helping Estonian enterprises to grow business.
• The fund invests in several risk capital funds which will then invest primarily in Estonian enterprises.
• This is the first structural fund-supported fund-of-funds that EIF have invested in.
• The previous fund-of-funds implemented by EIF in Lithuania and Latvia could not benefit from EIF co-investment.
• The new fund-of-funds is expected to enable greater access to equity financing for high growth Estonian SMEs.

Wai Yee Tsang - Journalist