European Innovation Council Fund (EICF)

The European Innovation Council Fund (EICF) is the venture arm of the European Innovation Council, functioning as an investment fund under private law with the European Commission as a shareholder. Its primary objective is to bridge the funding gap for breakthrough technologies in Europe by providing the investment component for the EIC Accelerator and STEP calls. The fund invests in high-risk deep tech innovators, ranging from early-stage startups to mature scale-ups, with investments typically ranging from €0.5M to €30M. As a strategic risk-taker, the EICF aims to crowd in private capital and support future global leaders. The fund's approach involves taking minority equity stakes, typically around 10% but potentially up to 25%, and participating in follow-on funding rounds. It focuses on creating thematic portfolios in strategic tech areas and leverages a network of over 110 trusted investors managing over €360B in assets (Trusted Investors Network). This structure ensures a blend of grant and equity support to help promising deep tech companies. The EICF's organizational structure involves several key players: the European Commission as a shareholder, the EIB as an investment advisor and future investor of record, an external Fund Manager responsible for managing the portfolio and investment decisions, qualified investors who validate prospects, and co-investors who invest alongside the Fund. The EIC Fund Board oversees the investment strategy, while the EIC Fund Advisory Committee provides independent advice. The European Commission, through EISMEA, manages the grant component of the EIC Accelerator, selects companies for EIC support, conducts technology due diligence, and provides Business Acceleration Services.

Deep tech, all verticals, game-changing innovators

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