Skip to content
MIKES

EU programmes · European Investment Fund (EIF) co-investing with national promotional institutions (BGK – Poland, BID – Romania, ILTE – Lithuania, HBOR – Croatia, SID Banka – Slovenia)

Three Seas Initiative Infrastructure Fund of Funds

EquityDual-useSecurity
Ticket size
At least EUR 2bn total target; contributing NPIs collectively ~EUR 250m, matched by EIF co-investments at fund level

About the programme

The Three Seas Initiative Infrastructure Fund of Funds is a new EIF-managed fund-of-funds established under a Memorandum of Understanding signed at the Three Seas Initiative Summit in Dubrovnik in April 2026.

  • It channels public and private capital into sub-funds investing in energy, transport, digital, and social infrastructure across Central and Eastern Europe.
  • The participating national promotional institutions are expected to contribute around EUR 250m collectively, with EIF matching those commitments to help unlock at least EUR 2bn of total investment.
  • The fund is planned to begin operations in the second half of 2026 and will invest indirectly through a portfolio of regional infrastructure funds.

Why it matters

For defence-tech and dual-use companies active in resilience-critical infrastructure (energy grids, digital connectivity, transport corridors), this instrument offers access to long-term equity capital via intermediary infrastructure funds across 12 CEE EU member states.

  • The fund explicitly targets cross-border projects that strengthen European resilience, making it relevant to companies whose technologies underpin secure energy, communications, or mobility infrastructure.
  • Its fund-of-funds structure means the primary entry point is through qualifying regional infrastructure fund managers rather than direct project applications.

Calls & cycles

none tracked
No call cycle on record. Check the official programme page.

Related programmes

EU programmesOpen call

CASSINI Space Entrepreneurship Initiative

European Commission (DG DEFIS), with EUSPA and the EIF

Space is treated as dual-use across EU funding; CASSINI gives space-defence start-ups an equity pipeline and visibility instruments that stack with EDF and EUDIS applications.

EquityAcceleratorsPrizes & challengesDual-useDeep tech
See programme
EU programmesOpen call

Defence Equity Facility (DEF)

European Investment Fund with the European Commission, under InvestEU

Not a programme you apply to as a company, but it determines which European VCs have fresh defence-mandated capital; track its fund commitments to know who can actually write you a cheque.

EquityDefenceDual-useDeep tech
See programme
EU programmesOpen call

EIB Group Security and Defence Financing

European Investment Bank Group

Debt, not grants: the EIB now finances defence companies that banks still avoid, and venture debt from its one-stop shop can extend runway without dilution once you have revenue or strong contracts.

LoansEquityDefenceSecurityDual-use
Direct venture debt for fast-growing innovative SMEs and mid-caps; intermediated credit lines via partner banks for smaller ticketsSee programme