VILNIUS - The European Investment Fund (EIF) together with Lithuania, Latvia and Estonia is launching an initiative which aims to encourage venture capital investment in Baltic companies, reports ELTA.
Over the next four years, the Baltic Innovation Fund (BIF) will invest 100 million euros into private equity and venture capital funds, encouraging risk capital investments in small- and medium-sized enterprises and their growth.
On Sept. 26, the EIF and representatives of the three Baltic States signed the BIF management contract in Vilnius. EIF is investing 40 million euros, while the national agency of each country, Lithuania’s Investment and Business Guarantees (INVEGA), Latvia’s Guarantee Agency and Estonia’s KredEx are allocating 20 million euros each.
To read the original article: Innovation fund to boost Baltic investment
