The European Investment Fund (EIF) has committed €20 million to a new Finnish private credit fund aimed at improving access to financing for small and medium-sized enterprises (SMEs) with strong growth potential. The investment supports the newly launched SP Growth Fund Ky, which is designed to help innovative companies in Finland secure the capital they need to expand.
The SP Growth Fund will focus on technology-driven businesses that often struggle to obtain traditional bank loans due to limited tangible assets and stricter lending conditions. It will provide loans typically ranging from €500,000 to €2 million, targeting firms with strong commercial prospects but constrained access to financing.
With EIF’s backing, the fund has reached an initial closing of €34 million, moving it closer to its target size of €50 million. Additional investors include Finnish institutional and private stakeholders, reflecting growing confidence in alternative financing solutions for SMEs.
The initiative is supported by the InvestEU programme, the European Union’s flagship investment scheme, which aims to mobilize private capital and strengthen competitiveness across Europe. It is designed to expand financing options beyond traditional banking channels and encourage innovation-led growth.
EIF leadership emphasized that access to growth capital remains a key challenge for innovative European businesses. By supporting funds like SP Growth Fund, the EIF aims to strengthen Finland’s private credit market and help companies invest, scale, and create jobs.
The SP Growth Fund is managed by SP Growth Partners Oy, a Finnish investment firm based in Helsinki and Oulu specializing in financing growth-stage companies. The fund will invest exclusively in Finnish SMEs and mid-sized firms, with a strong focus on innovation, entrepreneurship, and sustainable economic development.
The EIF, part of the European Investment Bank (EIB) Group, plays a key role in improving access to finance across Europe by acting as an anchor investor and mobilizing private capital for high-growth and high-risk businesses.
