04.12.2008 EIROPAS INVESTĪCIJU FONDS IZSLUDINA KONKURSU

The European Investment Fund (EIF) is seeking Risk capital management companies or teams operating or interested in starting operations in Latvia to invest an allocation of approximately EUR 73m from the JEREMIE Holding Fund.

The EIF is a specialised EU institution dedicated to improving the provision of finance to SMEs across Europe. It is partly owned by the European Investment Bank (64%), the European Commission (27%) and a growing number of public and private entities (9%). Across a period of 15 years, the EIF has developed specialist competence in working with Financial Intermediaries (FIs) such as banks and VC fund management companies, to support and enable greater provision of finance to SMEs than the private market can do alone.

The Latvian government has contracted the EIF, to benefit from its expertise and experience, to implement the JEREMIE initiative in Latvia, acting as JEREMIE Holding Fund (JHF).

Acting as JHF, EIF will select, though this Call for Expressions of Interest (Call for EoI), appropriately qualified financial intermediaries (FI) - risk capital fund management companies which will receive commitments from a total allocation of indicatively EUR 73 million, further split across the VC spectrum as follows:

Venture capital fund 42,4 m EUR

Start-up capital fund 16,2 m EUR

Seed capital fund 6,3 m EUR

Co-investment fund 8,1 m EUR

This Call for EoI sets out the main terms and conditions for receiving commitments as well as criteria that will be applied to assess FIs capability and suitability for the task, while charging a reasonable management fee.

Interested FIs should complete the Expression of Interest annex following the instructions of this Call for EoI and submit it by close of business on January 16th, 2009:

- by registered mail: Krisjanis Zarins, Mandate Relationship Officer European Investment Fund, Valdemara centre, 21 Kr.Valdemara Street, Riga, LV- 1010, Latvia

- by electronic mail: K.Zarins@eif.org

To see the full text of Call for Expression of Interest and related annexes, please click here