The European venture capital landscape: an EIF perspective. Volume III: Liquidity events and returns of EIF-backed VC investments

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Despite the sometimes intensive media coverage and exuberant storytelling around the industry, venture capital (VC) investors tend to operate in highly opaque markets. On this premise, this work contributes to the literature via a hand-collected dataset of about 3 600 EIF-backed VC investments made in the 1996-2015 period, with the aim to analyse their liquidity events and returns. The paper finds, inter alia, that VC returns show sensitivity to the economic cycle.

Developing an action plan for ESIF financial instruments

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To ensure a comprehensive and efficient process for implementation of financial instruments, managing authorities and other stakeholders may refer to the action plan described in this fi-compass video, which structures the lifecycle of financial instruments along four phases: design, set-up, implementation and winding-up.

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European Social Fund financial instruments supporting self-employment and entrepreneurship

European Social Fund financial instruments supporting self-employment and entrepreneurship

Vienna saw the first thematic fi‑compass workshop on European Social Fund (ESF) financial instruments supporting self‑employment and entrepreneurship under Thematic Objective 8. This full day workshop was attended by representatives from ESF managing authorities, financial intermediaries, and other stakeholders from across the EU.

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Growing the Social Investment Market: The Landscape and Economic Impact

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The report highlights more nuanced aspects of the UK social investment market. Smaller Social Investment Finance Intermediaries (SIFIs) are leading the way in product innovation, having completed a number of small deals across a range of new and interesting products. Clearly, opportunities do exist for greater funding of these organisations to help them reach scale and sustainability.

Designing microfinance operations in the EU - A manual on how to build and implement microfinance support programmes using ESF

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The COPIE Access to Finance baseline study carried out in 2009 shows that despite the high importance and growing recognition of self-employment, micro-business and microcredit at EU level, national ESF and ERDF bodies have only very marginally taken up these issues in their National Reform Plans and the associated Operational Programmes.

A solution to the student loan crisis: human capital contracts

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This Note proposes a novel financing scheme, characterised by private equity investments in higher education, as a solution to the student loan crisis. As first proposed by economist Milton Friedman, human capital contracts are financial instruments with which students can receive private capital to fund their educational pursuits in exchange for a certain percentage of their future earnings.
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