Investment & Fund Management
The European Investment
Full Credential Description
The European Investment Fund (EIF) and Axis launched the EAF Spain II, a EUR 40 million business angels fund aimed at financing innovative start-ups in Spain. This initiative addresses the specific challenge of limited early-stage financing for tech companies with strong innovative components. The fund is structured to co-invest 50:50 with business angels, matching their investments on the same terms, thereby enhancing the investment capacity of these non-institutional players.
EAF Spain II builds on the success of its predecessor, EAF Spain I, which had a size of EUR 30 million and facilitated approximately EUR 45 million in investments across around 200 Spanish firms. The new fund aims to sign 13 to 15 co-investment agreements with experienced business angels, providing them with between EUR 1 million and EUR 3 million each. This tailored approach not only supports the financial needs of early-stage companies but also fosters innovation and economic growth in the EU by ensuring that funding reaches firms that are investing in new ideas.
The EIF's commitment to this initiative reflects its broader mission to support micro, small, and medium-sized enterprises (SMEs) in Europe, particularly in the technology sector, by providing them with alternative financing sources essential for their growth and development.