What we do
Coronavirus pandemic: The EIB Group’s initiatives to address the economic consequences of the crisis
Pan-European Guarantee Fund – EGF
Sustainable Development Umbrella Fund
SDUF Health Compartment
Equity products
AI Co-Investment Facility
Technology Transfer
European Angels Fund (EAF) - Co-investments with Business Angels
Venture capital
The Social Impact Accelerator (SIA)
Lower mid-market
Mezzanine Facility for Growth
VentureEU
EFSI Equity instrument
Single EU Equity Financial Instrument
COSME - Equity Facility for Growth
InnovFin Equity
Private equity secondary market transactions
EIF-NPI Equity Platform
ESCALAR Programme
Debt products
New ESIF ERDF Guarantee Fund initiative in Greece
EFSI Private Credit Programme
AGRI Guarantee Facility
AGRI Italy Platform Uncapped Guarantee Instrument
Credit enhancement
Cultural and Creative Sectors Guarantee Facility (CCS GF)
ENSI - Securitisation Initiative
Erasmus+ Master Loan Guarantee Facility
Skills & Education Guarantee Pilot
EREM debt products
Single EU Debt Financial Instrument
COSME - Loan Guarantee Facility
Documentary Finance Facility – Bulgaria
The SME Initiative
The SME Initiative Bulgaria
The SME Initiative Finland
The SME Initiative Italy
The SME Initiative Malta
The SME Initiative Romania
The SME Initiative Spain
Inclusive finance
EaSI Financial Instruments
EaSI Capacity Building Investments Window
EaSI Guarantee Instrument
EaSI Funded Instrument
European Progress Microfinance Facility
Entrepreneurs supported through Progress Microfinance
European Fund for Strategic Investments (EFSI)
How does EIF contribute to EFSI
How to apply for EFSI financing
Regional Development - Country and sector-specific initiatives
Dutch Future Fund (DFF)
PORTUGAL BLUE: a new initiative for blue economy investments
JEREMIE Greece Reflows – Business Angels’ Co-Investment Equity Instrument
German Corona Matching Facility (CMF)
Portugal Growth programme
Croatian Growth Investment Programme (CROGIP)
AGRI Italy Platform Uncapped Guarantee Instrument
ALTER’NA – ESIF EARFD Nouvelle-Aquitaine
Baltic Innovation Fund 1 (BIF 1)
Baltic Innovation Fund 2 (BIF 2)
Central Europe Fund of Funds (CEFoF)
Croatian Venture Capital Initiative (CVCi FoF)
Competitiveness Fund-of-Funds for SMEs in Romania
Deep and Comprehensive Free Trade Area Initiative East Guarantee Facility (DCFTA)
Dutch Growth Co-Investment Programme
Dutch Venture Initiative (DVI-II)
ESIF Fund-of-Funds Greece
EAFRD FoF Portugal
EAFRD FoF Romania
The ERP-EIF Facility
ERP-EIF Co-Investment Growth Facility
The LfA-EIF Facilities
INAF – French National Agricultural Initiative
ESIF Energy Efficiency and Renewable Energy Malta
Regional Fund-of-Funds Romania
ESIF Fund-of-Funds Czech Republic
The Silesia EIF Fund of Funds
La Financière Région Réunion
The EIB Group Risk Enhancement Mandate (EREM)
EstFund
FOSTER TPE-PME Occitanie
Greater Anatolia Guarantee Facility (GAGF)
G43 - Anatolian Venture Capital Fund Project
InvestBG Equity Instrument
JEREMIE
JEREMIE Romania Reflows – Equity Instrument
Luxembourg Future Fund (LFF)
Mezzanine 'Fund of Fund' for Germany (MDD)
Polish Growth Fund of Funds (PGFF)
Portugal Venture Capital Initiative (PVCi)
Scottish-European Growth Co-Investment Programme
Slovene Equity Growth Investment Programme (SEGIP)
Swedish Venture Initiative (SVI)
Turkish Growth and Innovation Fund (TGIF)
Western Balkans Enterprise Development & Innovation Facility (WB EDIF)
EAFRD FoF Greece

EIB Group provides €150 million to support artificial intelligence companies

  •  
    Date: 03 December 2020

Today at the Web Summit 2020, the European Investment Bank Group (EIB Group) launched a new financing instrument to support artificial intelligence companies across Europe. The co-investment facility of up to €150 million will allow the EIB Group to invest alongside funds backed by the European Investment Fund (EIF) in companies that are active in the artificial intelligence (AI) sector and in technologies that directly complement AI, such as Blockchain, the Internet of Things and robotics.

Europe’s artificial intelligence sector has a multibillion-euro funding gap compared with the United States and China. The facility launched today targets this gap. It complements and builds on EIB and EIF expertise in the sector, developed through the existing €100 million Artificial Intelligence/Blockchain pilot under InnovFin Equity and direct EIB financing for AI companies through its venture debt instrument. The new instrument is part of a larger initiative of the EIB Group and the European Commission to support the development of Europe’s digital future in areas such as high performance computing, quantum technologies and cybersecurity, to name a few.

“The potential of AI is enormous. Today we can already see the initial impact of AI in many areas of our day-to-day lives, but it will be the defining factor for the way we work, study and live in the future,” said EIB Vice-President Teresa Czerwińska, responsible for innovation and digitalisation. “If Europe wants to stay competitive and shape the conditions of AI development and use, while ensuring European values are respected, it needs to embrace AI and lead its development. That is why I am very proud of the new instrument we have launched today. By using our resources and combining the expertise and market access of the EIB and the EIF we are pioneering new ways of financing AI, and helping to encourage more investment in this important sector.”

EIF Chief Executive Alain Godard said: “Artificial intelligence is a key component in a technological revolution that we are already witnessing. There is strong market demand for co-investments in this sector. The EIB’s expertise in assessing individual equity-type investments and the EIF’s market reach and ability to leverage strongly on the fund managers in our portfolio active in the AI domain will ensure that the facility is deployed efficiently.”

European Commissioner for the Internal Market, Thierry Breton, said: “Europe has all it takes to become a hub for cutting-edge developments in Artificial Intelligence. We have the talent and a wealth of industrial data – both of which will give us an important comparative advantage in AI if we use them wisely. We are putting a framework in place to leverage our strengths and build trust – including through clear and predictable rules. The co-investment facility announced today will further support companies so that they can grow in the EU thanks to the design and the deployment of trustworthy AI.”

The new funds will be available in the European Union and in Horizon 2020 associated countries and are expected to be deployed during the next four years. By collaborating with private investors, the EIB Group expects to support approximately 20-30 small and medium-sized companies. The focus will be on early and growth-stage companies investing in the development of breakthrough AI applications. The resource allocation to potential co-investments in companies will be considered on a first come, first assessed basis and on the merits of the proposal. By assisting fund managers investing individual tickets of over €1 million in high-growth European companies the new instrument will complement the EIF’s existing fund activities. Additional information on the AI Co-Investment Facility can be found here.

Background information:

The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals. In 2019 alone, the EIB provided €1.65 billion of financing for AI-related projects.

The European Investment Fund (EIF) is part of the European Investment Bank Group. Its central mission is to support Europe’s micro, small and medium-sized businesses by helping them to access finance. The EIF designs and develops both venture and growth capital, guarantees and microfinance instruments which specifically target this market segment. In this role, the EIF fosters EU objectives in support of innovation, research and development, entrepreneurship, growth and employment.

InnovFin Equity is part of InnovFin – EU Finance for Innovators, a generation of EU financial instruments and advisory services developed under Horizon 2020 to help innovative firms access finance more easily. InnovFin Equity provides equity investments and co-investments to or alongside funds focusing on early-stage financing of enterprises operating in innovative sectors covered by Horizon 2020, located or active in the European Union or in Horizon 2020 associated countries.

Press contact:

Jan Gerrit Wnendt, j.wnendt@eib.org, tel.: +352 43 79 82227 / Mobile: +352 691 284 340
Website: www.eib.org/press - Press Office: +352 4379 21000 – press@eib.org

 

We use cookies to give the best browser experience on our website. or change cookie settings.

Note: Following the recent withdrawal of the United Kingdom from the European Union, we are updating the relevant EIF.org pages.

 
 

Copyright ©

 European Investment Fund 2021 – The European Investment Fund is not responsible for the content of external internet sites.