kadri mats coordinator of eu funds 23 september 2015 baltic innovation fund (bif)

Kadri MatsCoordinator of EU Funds

23 September 2015

Baltic Innovation Fund (BIF)

KredEx is a state owned but self-sustainable financial institution• Under the jurisdiction of the Ministry of Economic

Affairs and Communications• Legal base: Support of Enterprise and State Loan Guarantees Act (2003)• Founded in 2001• Employees: 36 (+8)

• Loan guaranteesUp to 75% of bank loan or bank guarantee, up to EUR 2 Million

• Credit Insurance Short term and medium- long termDomestic and foreign buyers

• Export LoansFor medium-long term export financing

• Mezzanine Loans Subordinated loan up to EUR 2 Million

• Credit Lines Favorable loans to commercial banks

• Private Equity and Venture Capital Baltic Innovation Fund

Estonian Innovation Fund

KredEx services to enterprises

Baltic Innovation Fund (BIF)

BIF – €130m

Approx. €400m invested in Baltics

EE (KredEx)

€26m

EE (KredEx)

€26m

BPM Capital BPM

Capital

LV (Altum)€26m

LV (Altum)€26m

LT (Invega)€26m

LT (Invega)€26m

EIF€52mEIF

€52m

€15m

??Livonia CapitalLivonia Capital

Karma InvestKarma Invest BaltCap BaltCap

€20m €20m €25m 2x €…m

Private investor x 2

Investments for local high growth, internationally competitive companies

Development of local/locally focussed GPs - more teams with full (sufficient) track record

Attracting private investors - LPs including pension funds

Enhancing legal environment - fund law (funds, taxes), law enforcement

Generating positive return to investors

Main objectives of BIF infrastructure:

Contacts:

KredEx

Hobujaama 4

10151 Tallinn, Estonia

www.kredex.ee

Phone: +372 667 4112

E-mail: kadri.mats@kredex.ee