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Co-investment facility between Sabadell Venture Capital and the EIB to support small and medium-sized enterprises (SMEs) impacted by the COVID-19 crisis in Iberia (Spain and Portugal) through venture debt instruments.
Co-investment facility allowing the EIB to deploy venture debt in cooperation with Sabadell Venture Capital. The facility would focus on SMEs (start-ups and growth companies) impacted by the COVID-19 crisis in Iberia (Spain and Portugal).
The pandemic has exacerbated the known difficulties that SMEs and especially innovative SMEs experienced in accessing cost-effective, long-term finance. These difficulties arise from the small scale of activities, uncertainties in the market and inherent riskiness of innovation activities leading to lower rates of return and higher risk of failure. The EIB co-investment with SVC would help SMEs to alleviate the immediate negative effects of the pandemic by offering finance to strengthen their competitiveness and build-up their future resilience through the support to small-scale investments in several innovative high technology sectors. The targeted innovative SMEs will develop and deploy technologies that will be adopted eventually more widely in the EU and thereby they will contribute to strengthen Europe's economic resilience and competitiveness, support digital transformation and help withstand major adverse events such as the pandemic.
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.