The European Investment Fund (EIF) is Europe’s main provider of risk financing for small and medium sized enterprises (SMEs) and mid-caps. We deliver sources of funding including equity, debt and microfinance through our wide network of selected financial intermediaries in the EU-28 Member States and beyond. Regarding EIF and risk capital in Latvia, the most notable is the Baltic Innovation Fund (BIF), a Fund-of-Fund initiative launched by the EIF in close co-operation with the Governments of Latvia, Lithuania and Estonia in 2012 to boost equity investments made into Baltic Small and Medium sized enterprises (SMEs) with high growth potential. BIF represents a EUR 52 million investment by EIF with each Baltic Government committing EUR 26 million through their respective national agencies (INVEGA in Lithuania, KredEx in Estonia and Altum in Latvia (previously LGA). Significant part of the resources committed by national agencies are returned  resources from earlier Structural Fund financed financial instruments under JEREMIE framework, now being reused. BIF will invest EUR 130 million into private equity and venture capital funds focusing on the Baltic States during 2013-2017 through a ‘fund of funds’ process to attract additional private finance and implement the best market standards for equity investing in businesses. This trans-national process provides a real opportunity to further develop the Baltic Private Equity and Venture Capital market and to stimulate employment and competitiveness in the region.