EstFund call for expression of interest

29 June, 2016

EstFund call for expressions of interest has been published on EIF website and the deadline for submitting is 29th of August 2016. One of the instruments will be a long-awaited business angels co-investment fund.

This new EUR 60 millionFund-of-Funds initiative was launched by EIF in March 2016 in close co-operation with KredEx and the Estonian Ministry of Economic Affairs and Communications to stimulate equity investments into innovative and high growth-focussed enterprises in Estonia.

EstFund is the first fund-of-funds that EIF has invested into, combining resources from the European Structural and Investment Funds (“ESIF”) resources and from the European Fund for Strategic Investments (EFSI), the heart of the European Commission’s Investment Plan for Europe.

The new fund-of-funds, using ESIF resources, will support smaller risk capital funds targeting smaller and often earlier stage investments, operating in a complementary way to the already existing successful Baltic Innovation Fund initiative that targets larger and later stage deals in Baltics. Co-investment from EFSI by the EIF into the underlying funds will encourage private investors to commit additional resources into these funds. It is expected that approximately EUR 100 million in equity investments will be made available to the Estonian enterprises in the next years.

More information on EIF homepage.

Contact – Krisjanis Zarins, +371 67035210, e-mail: