Release date: 19 August 2021
Promoter – Financial Intermediary
SABADELL VENTURE CAPITAL SLULocation
Description
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.
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 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.
Objectives
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).
Sector(s)
- Services - Financial and insurance activities
Proposed EIB finance (Approximate amount)
EUR 20 million
Total cost (Approximate amount)
EUR 37 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 - 11/02/2022
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).