* Admissibility date reflects the date the case was officially registered. All other dates pertain to the date in which a stage was completed.
Case Description
The EIB-CM received a complaint in July 2025 from a co-founder of Company X (an investee of Fund F, which is one of EIF’s clients) alleging that Fund F and its co-investors engaged in abusive governance practices, including coercive replacement as CEO, withholding agreed payments, and linking payment to asset sale approval. The complainant also raised concerns about potential systemic gender discrimination affecting other women founders backed by Fund F, alongside ongoing issues with company governance and access to information after her departure as CEO.
Work performed
In this case, the EIB-CM reviewed relevant rules, engaged with the complainant and EIF services, and consulted Fund F, which stated that the complainant’s dismissal was lawful and that unpaid fees were due to an alleged breach of contract.
Conclusion
The EIB-CM concluded that the complainant’s allegations relate primarily to a commercial dispute linked to shareholding and contractual arrangements, with no sufficient connection to potential non-compliance by the EIF. It also noted that the dispute had been settled, the complainant had exited the company, and there was insufficient evidence to substantiate broader claims of gender discrimination. Accordingly, the EIB-CM found no prima facie evidence of maladministration by the EIF.
Outcome
No further inquiry is required.