Skip to main content
Logo
European Innovation Council

EIC Fund Investment Guidelines & Approach

.

A strategic impact investor

 

  • Invests in deep tech startups and SMEs selected under the EIC Accelerator and EIC STEP Scale Up

  • Investment size: €0.5M – €10M (Accelerator), €10M to €30M under EIC STEP Scale Up

  • Patient capital with a long-term horizon (7–10 years, max 15)

  • Focus on crowding in private capital and protecting EU strategic interests

 

Investment Focus

 

  • Target companies: Startups, early-stage SMEs, and small mid-caps
  • Sectors: Open to all sectors, with a strong focus on deep tech, disruptive and market-creating innovation
  • Stage: TRL 5 to 9 — from prototype to market deployment and scale-up
  • Geography: EU Member States and Horizon Europe associated countries
  • Exclusions: Based on ethical, legal, and EU strategic principles 

 

Investment Process 

 

  1. Selection

    Company selected for blended finance by the Commission

  2. Due diligence

    Financial and compliance checks by EIB and Fund Manager

  3. Co-investment search

    Matching with Trusted Investors Network

  4. Term sheet & approval

    Structuring and approval by AIFM

  5. Investment

    Equity or quasi-equity (convertibles, preferred shares, etc.)

  6. Monitoring & follow-up

    Milestone-based, with optional follow-on rounds

Strategic Provisions

 

  • EU Interests Protection

    Blocking minorities or shareholder agreements in strategic areas

  • Intellectual Property

    Focus on retaining IP and value in Europe

  • Exit

    Targeted exit horizon 7–10 years, aligned with private co-investors

  • Follow-on Investments

    Follow-on Investments beyond initial EICF approval

 

Investment Guidelines

 

First page of the document
  • General publications
  • 30 April 2024
EIC Fund - Investment Guidelines

Document covering in full detail the investment conditions under the EIC Fund: Investment principles, investment strategy, scope of the investments as well as investment processes and scenarios.