The European Commission is launching a market testing exercise to find out if a call for the selection of a fund manager for the financial instruments in the area of social entrepreneurship finance to be established under the Programme for Employment and Social Innovation (EaSI) would meet interest and qualified response.
For the implementation of the financial instrument promoting social entrepreneurship finance under the EaSI, the Commission will cooperate with a financial institution. For guarantees, this is likely to be the European Investment Fund (EIF). For the dedicated investment vehicle (DIV) that undertakes funded investments in social entrepreneurship finance intermediaries, the choice of the manager is still open.
Potential fund managers can signal their interest and present their ability as fund manager. An organisation which has not signalled its interest can nevertheless participate in the call if the Commission decides to go for this option instead of negotiating directly with the EIF. The decision whether a call will be launched or not will be taken in the first half of September.
Declarations of interest in response to this request are not binding on the Commission nor on the interested fund manager in any way. Contributions will be treated confidentially, only be used for the internal work of the Commission and not shared with third parties. They will also not be used in the evaluation procedure of formal applications to a potential call for services of fund managers.