This European Investment Fund (EIF) analysis provides an overview of the main markets relevant to EIF, equity, guarantees, securitization, and microfinance. These main markets have been identified by the European Small Business Finance Outlook (ESBFO). Starting with a discussion of the general market environment for SME finance, analysts then look at the main aspects of equity finance and the SME guarantees / securitization markets. Finally, the paper highlights important aspects of microfinance in Europe.

The EIF focuses on the whole range of micro to medium-sized enterprises, starting from the preseed, seed-, and start-up-phase (technology transfer, business angel financing, microfinance, early stage VC) to the growth and development segment (formal VC funds, mezzanine funds, portfolio guarantees/credit enhancement).