The European Investment Fund (EIF), with the support of InnovFin Equity and COSME EFG, is investing in two equity funds in Portugal – Vallis Capital Partners and Mustard Seed MAZE Social Entrepreneurship Fund I. These investments benefit from the support of the European Fund for Strategic Investments (EFSI), the heart of the Investment Plan for Europe.
As the first social impact investing the fund in Portugal, Mustard Seed Maze Social Entrepreneurship is expected to be a game-changer in the Portuguese market. It will provide the first stable source of funding for the most promising social innovation business models in Portugal. The Vallis Capital Partners Fund investments will target sustainability trends, including industries related to demographic growth and scarcity of natural resources.
Vallis Capital Partners has launched a EUR 150 million lower to mid-market fund, Vallis Sustainable Investments II, targeting innovative Portuguese SME´s over the next 5 years. The EIF investment benefits from EU support under the COSME programme funded by the European Commission.
Mustard Seed MAZE Social Entrepreneurship Fund I is a EUR 40 million social impact fund investing in social enterprises in Portugal, will be supported by the InnovFin Equity Facility for Early Stage SME window, under Horizon 2020, the EU’s Framework Programme for Research and Innovation, and the Social Impact Accelerator. The Fund will be the first impact investing fundraised with a focus on Portuguese social enterprises.
Both funds benefit from the support of the European Fund for Strategic Investments (EFSI), the heart of the Investment Plan for Europe – the Juncker Plan.
“These two Juncker Plan deals worth EUR 190 million will give Portuguese small and medium businesses the boost they need to express their talents and turn their ideas into concrete projects. Fresh funding will be available for innovative projects of high value-added and for social enterprises, which are two sectors that are key to the future of Europe’s economy. The Web Summit is probably the most symbolic place where such deals can be formalized,” said European Commissioner Carlos Moedas, responsible for Research, Science and Innovation.
The signatures took place at Web Summit 2018 in Lisbon where the EIB Group sponsored the Growth stage and hosted visitors at the Growth Lounge during Europe’s largest tech event.
Original source: European Commission
Published on 6 November 2018