Following the publication of the call for expression of interest for a new EU funding scheme piloting co-investment with Business Angels, a launching workshop has been organised on 7 October by the European Commission (DG CONNECT/DG RTD) and the European Investment Fund (EIF). It gathered representatives of the Business Angels community, notably Business Angels Europe (BAE) and The European Trade association for Business Angels, seed funds and early stage market players (EBAN).

This is a pilot action under the Horizon 2020 InnovFin facilities, implemented by the EIF in support of Business Angels investing predominantly in startups, innovative SMEs and small midcaps who aim at commercializing new ICT-related products and services accross Europe. 

The EIF will provide with equity stakes in funds aiming to co-invest with Business Angels in one or more EU Member States and Horizon 2020 Associated Countries, in particular (but not exclusively) CEE Countries.

With an initial EU financial contribution of €30 million, this pilot is expected to generate an amount of up to €120 million of investments in small innovative firms.

The call is addresed to Business Angels Funds. It is continuously opened (until 30 September 2020) and it is based on the first-come first-assesed approach.

Further details on the call for expression of interest (see the Business Angels ICT pilot).