Midtjysk Iværksætterfond

Project information

Index: 1335R4
Acronym:FIN-EN
Priority:1: Innovation and the knowledge economy
Sub Theme:Entrepreneurship and SMEs
Location DENMARK DANMARK n.a. Midtjylland Start/End date of the practice
Start: October 2009
End: December 2020

Topic of the practice

Level of co-financing (leverage effect) produced with the financial instrument, leverage effect can be developped at fund or deal level

Good Practice Information

The identification of co-funders was a selection criterion of the call for tenders launched to select the fund manager. Indeed, the tenderers had to bring in co-investors whose contribution would be equivalent to the ERDF financing (1:1). The winning tenderer managed to find three co-funders (two private and one mixed private/public), who primarily joined the fund because of their confidence in the aptitudes of the fund manager to generate a positive yield. In this way, the co-funders joined the fund on the basis of the reputation and the trust in the fund manager and FEI setup suggested by the fund manager.

Evidence of success

This good practice overcomes difficulty to find co-investors in the fund. The call for tenders launched for fund manager gave the tenderers wide opportunities to influence the design of the FEI. Winning tenderer discussed the design of the FEI with potential co-funders, suggesting a FEI setup that supported the co-funders confidence in the aptitudes of the fund manager to generate a positive yield.

Contact details to obtain further information on the practice

Jens Kastrup Kjersgaard

Central Denmark Region / Region Midtjylland

Jens.Kjersgaard@ru.rm.dk

www.rm.dk/

Annex completed on: 10-21-2013

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