The European Investment Bank has announced that its venture capital subsidiary, the European Investment Fund, will launch a €50m fund targeting investment in social enterprise via existing lending intermediaries. The aim is to match these funds with private sector investments and bring the fund up to around €100m.
The new fund will invest across the EU utilising a similar approach the Big Society Capital. development and implementation of the new Fund is being advised by Euclid, the EU network of third sector leaders.
It would be interesting to hear what finance specialists here think of this — especially whether they see it as significantly improving their ability to expand their own funds and lend more to social enterprises and third sector organisations. Or perhaps they can already meet demand without additional EU access to finance?