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    Reference: 20200932
    Release date: 11 February 2022

    Promoter – Financial Intermediary

    ALMA GROWTH PARTNERS GP SARL,ALMA I ADVISORY LTD

    Location

    Description

    Alma is a newly established fund in Luxembourg (in the legal form of a Reserved Alternative Investment Fund (RAIF)) led by a first-time team, coming from Kreos. The EIB will establish a venture debt co-invest platform with Alma to support investments and working capital needs of small and medium-sized enterprises (SMEs) established in the EU.

    Additionality and Impact

    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 ALMA 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. 

    Objectives

    The EIB investment aims to provide financing for growing and innovative SMEs and support their recovery in the aftermath of the COVID-19 crisis.

    Sector(s)

    • Services - Financial and insurance activities

    Proposed EIB finance (Approximate amount)

    EUR 35 million

    Total cost (Approximate amount)

    EUR 64 million

    Environmental aspects

    Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

    Procurement

    Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

    Status

    Signed - 22/12/2021

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    EU Countries Services