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Invest in inclusive growth

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Launched in 2005, EFSE was the first public-private partnership impact vehicle for micro, small and medium-sized enterprises (MSMEs)

Today, EFSE remains one of the largest funds of its type, with a long and successful track record. We build strategic partnerships with local financial players, providing them with flexible and tailored debt-financing solutions. These include local currency loans, loans for farmers and agri-businesses, and targeted financing for underserved market segments.

 

We aim to transform businesses to generate inclusive, sustainable growth and diversified returns for investors.

 

Figures as of Q4 2024

€1.5B

Total assets

€4.7B

Cumulative investments since inception 

15

Active investment countries

€11.4M

Volume of sub-loans enabled to MSMEs and households

2.6M

Indirect jobs supported

41%

Share of indirect jobs held by women

 

 

Delivering for investors 

We provide diversified access to high-growth markets

Southeast Europe and the Caucasus combine high-growth dynamics with EU integration momentum.

 

But local capital markets are underdeveloped and do not offer opportunities for diversified exposure.
 

We give you diversified access via the region's secure banking sector with first- and second-loss protection.  

EFSE contact

Delivering for local markets

We finance growing MSMEs through local financial institutions

These businesses are critical to their economies – growth, jobs and living standards rely on their success.


But they struggle to obtain financing, which stops them from scaling, innovating and transforming their operations.
 

Through local financial institutions, we provide the financing, advice and capacity building they need to be competitive, sustainable and socially inclusive.

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Every day, we search for new ways to support our partners and local entrepreneurs. We make sure they can capitalise on opportunities for robust, competitive growth.” 

 

Learn more

Jasminka Begert, EFSE Portfolio Manager

It takes a specialist to invest in these markets 

We live and work where our assets are based.

 

With over 20 years of experience, we know how to navigate shifting market dynamics.

Final Map EFSE

Our impact stories

We work with local financial institutions to drive inclusive growth across markets, businesses and communities.

mikrofinInecobank impact storyUkraine Bank Lviv
Sustainable Agriculture gains traction in the Western Balkans
Empowering female founders: Scaling a beauty brand in Armenia
A lifeline for Ukrainian MSMEs

Information for potential investors

In respect of the United States of America, Canada, Japan or Australia or any other jurisdiction in which the distribution, offer, sale, transfer or resale would be prohibited by applicable law, no investment in notes/shares or other instruments of the Fund (or its sub-fund(s)) can be offered or made.