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introduction
7
Early stage and venture capital
Growth capital
2011 Equity signatures by stage – in EUR m
Signatures
Catalysed volume
7 000
6 000
5 000
4 000
3 000
2 000
1 000
0
646
4 124
480
1 937
1 126
6 061
To further increase its impact, throughout the year EIF devel-
oped new innovative products, started working with new
counterparts (such as Business Angels (BA) and corporate
investors) laying the foundation for future partnerships, and
extended its support to additional market players.
Additionally, EIF applied its experience of a diverse range
of legal structures so as to best suit mandators’ and inves-
tors’ needs, particularly in the regions.
and EUR 422m guarantee commitments under JEREMIE
catalysed EUR 1.1bn of funding.
Aiming to re-establish the credit enhancement and securiti-
sation market despite difficult market conditions, EIF partici-
pated in true sale securitisations and signed EUR 932m in
2011 generating a multiplier effect amounting to EUR 4.8bn.
EIF also completed guarantee/credit enhancement trans-
actions in cooperation with the EIB maximising the impact
of the EIB Group as a whole.
Funder of Europe’s micro-enterprises through
microfinance institutions
EIF has established itself as one of the leading microfinance
providers in Europe, supporting through microfinance insti-
tutions those borrowers who do not have access to the
traditional banking system and with the principle objective
of fostering social inclusion and job creation.
932
4 813
1 677
1 136
Securitisation (own risk)
First loss
JEREMIE
2011 Guarantee signatures by type – in EUR m
Signatures
Catalysed volume
8 000
7 000
6 000
5 000
4 000
3 000
2 000
1 000
0
1 461
7 626
107
422
Prime provider of guarantees and credit enhance-
ment to catalyse SME lending
In 2011, EIF catalysed EUR 7.6bn of lending to SMEs
with EUR 1.46bn of guarantee commitments in 47 new
transactions.
EIF continued to stimulate an increase in the volumes of
loans and leases by deploying risk-sharing instruments
under CIP and JEREMIE and raising the number of bank
partners to a record level of over 150. EUR 107m of CIP
guarantees mobilised EUR 1.6bn of additional capital