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services on financial instruments under the
fi-compass is a unique platform for advisory
for Employment and Social Innovation (EaSI).
European Structural and Investment Funds
(ESIF) and microfinance under the Programme
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be an important tool for boosting EU agriculture.
Investments, in a variety of forms, will help create a modern, dynamic agri-food
sector to create jobs and enhance growth in the EU. Financial Instruments will
Financial instruments using the European Social Fund
can support a wide range of financially viable
investment projects
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Other resources

Other resources

EaSI TA Newsletter, 3rd edition, October 2017

This is the third newsletter from EaSI TA featuring information about capacity building support from fi-compass for Europe’s microfinance sector. The newsletter is produced with Technical Assistance (TA) support from the first axis of the European Commission’s Employment and Social Innovation (EaSI) Programme.

EC summary of data on the progress made in financing and implementing financial engineering instruments

Final summary of data on the progress made in financing and implementing financial engineering instruments (FEIs) under the 2007-2013 operational programmes. As for the previous annual summaries, it has been scoped and prepared primarily on the basis of the data received from managing authorities in line with the requirements of Council Regulation (EC) No 1083/2006.

The European venture capital landscape: an EIF perspective. Volume II: Growth patterns of EIF-backed startups

Start-up growth is often treated as a stylised fact, despite an extensive research body composed of divergent theories and empirical findings. Against this background, this work contributes to the literature by analysing a hand-collected dataset of 2,951 EIF-backed VC start-ups. Section 2 briefly reviews the relevant literature and 3 discusses data and methods. Section 4 uses descriptive statistics to explore average and median growth trends of start-ups, following an EIF-backed VC investment.

The European venture capital landscape: an EIF perspective. Volume I: The impact of EIF on the VC ecosystem

In this first volume, question is addressed on whether EIF activity has effectively crowded-in VC financing. That is, whether other market players have intensified their activity in the aftermath of EIF’s increased investments. Prior to this, an outline is given on the economic rationale for EIF venture capital (VC) activities and provide an overview of the EIF portfolio of VC investments. The document concludes the descriptive part of the work by evaluating the geographical features of the EIF VC portfolio.

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

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.

Financial instruments under Cohesion Policy 2007-2013

This study assesses the implementation of financial instruments in Cohesion policy during the 2007-13 programming period.

Comparing Different Promotional Instruments in the Ex-ante Assessment and Evaluation

In this article a model is presented to compare a wide range of promotional instruments including Financial Instruments (FI) supported by the European Structural and Investment (ESI) Funds. The model is based on three elements, which are already developed and widely used and brings the result together in one formula. The model is applicable e.g. to low-interest loans, quasi-equity and equity instruments, their respective grace periods (repayment-free years), extended tenors (maturities), indemnities, as well as to tax exemptions and grants.

A Practical Approach to the Market Analysis Part of SME-Related Ex-Ante Assessments

For the support of financial instruments in the 2014-2020 programming period ex-ante assessments have effectively become a mandatory prerequisite, and the main elements required are given by the Common Provisions Regulation (CPR). Guidance to managing authorities (MAs) is available through the ex-ante assessment methodology published by the European Commission.