With an initial budget of EUR26 million, GapMinder is the first venture capital fund which was created following a selection carried out by the European Investment Fund (EIF). In upcoming years, GapMinder will be investing up to EUR1 million in seed-stage companies and possibly, an additional EUR3 million per company throughout subsequent stages, as well as in start-ups facing their first investment phase or the acceleration phase, which will see investments of up to EUR100,000.
The fund targets innovative technology companies with high potential of international expansion, in fields such as IT services and software, cyber security, artificial intelligence, digital transformation, IT healthcare solutions, FinTech etc.
The European Investment Fund (EIF), established in 1994, is part of the European Investment Bank group and is the main risk financer for small and medium-sized enterprises (SMEs) in Europe, through venture capital instruments, guarantees and micro-financing. In Romania, the EIF implements financial instruments financed through structural and investment funds: JEREMIE 2007-2013, the Initiative for SMEs and the financial instruments within the Competitiveness Operational Program, the Regional Operational Program and the National Rural Development Program (PNDR).