European Commission has appointed external manager of EIC Fund

AlterDomus, a Luxembourg-based company, has been chosen as the administrator.

An external manager has been appointed as part of the restructuring of the European Innovation Council Fund and will be in charge of making investment decision for applicants supported under the EIC Accelerator scheme. Currently, there are 139 start-ups and SMEs selected. Due to the long-awaited change, the EIC is now fully operational in providing blended funding (a combination of grant and equity investment).  

AlterDomus, a Luxembourg-based company, has been chosen as the administrator. Investment decisions will be made in accordance with the EIC Fund's Investment Guidelines. The first decisions are expected to be made in October, with more to follow in the following months. Another novelty is the simplification of the approval process when funding will no longer require the College-level decisions.  

You can find more information on the website of the European Innovation Council.