EIF to ramp up contributions

The capital increase will take EIF's total authorised capital to €4.5bn. EIF shareholders – the European Investment Bank, the European Union and 25 public and private institutions – approved the 50% increase at the general meeting held in Luxembourg.

At the end of 2013, EIF's total commitments to European private equity funds exceeded €7.9bn. The vehicle has backed more than 435 funds, with a particular focus on the high-tech and early-stage segments.

EIF aims to support European micro-, small- and medium-sized businesses through access to finance. Earlier this year, EIF named Pier Luigi Gilibert as its new CEO.

EIF is the largest LP on the European venture scene, though its terms were criticised at the EVCA Venture Capital Forum held in Berlin last year.

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• European Investment Fund