EIF Expands JEREMIE Programme with €210 Million to Strengthen Bulgaria’s High-Tech Innovation and Investment Ecosystem

EIF Expands JEREMIE Programme with €210 Million to Strengthen Bulgaria’s High-Tech Innovation and Investment Ecosystem

(IN BRIEF) The European Investment Fund is expanding the JEREMIE programme in Bulgaria with approximately €210 million in funding to support innovative companies in sectors such as AI, microelectronics, and advanced technologies. Managed through 2035, the initiative combines reinvested funds and new EU financing to provide continuous support for startups and scale-ups, while promoting sustainable economic growth. The programme builds on a strong track record of supporting over 10,000 SMEs and helping establish Bulgaria as a leading venture capital hub in South-Eastern Europe. With a new focus on scaling businesses and retaining talent, the initiative aims to strengthen Bulgaria’s innovation ecosystem, support strategic industries, and enhance its role in the European technology landscape.

(PRESS RELEASE) LUXEMBOURG, 14-Apr-2026 — /EuropaWire/ — European Investment Fund is expanding its long-term support for innovation in Bulgaria through the JEREMIE programme, unlocking approximately €210 million in financing aimed at high-growth companies in strategic sectors such as microelectronics, artificial intelligence, and advanced technologies. The initiative is designed to strengthen Bulgaria’s position as a leading venture capital hub in South-Eastern Europe while fostering sustainable economic development.

The programme, formally known as Joint European Resources for Micro to Medium Enterprises (JEREMIE), will be managed by the EIF through 2035, building on an existing mandate. It focuses on providing equity financing and reinvestment mechanisms to support startups and scale-ups, particularly in fields including quantum technologies, space innovation, and green solutions, alongside infrastructure development.

Developed in collaboration with the Bulgarian Ministry of Innovation and Growth, the strategy was outlined at a dedicated event in Sofia. The initiative combines €160 million in reinvestable funds with an additional €50 million sourced from recycled EU financing, creating a continuous funding cycle where repayments are reinvested to support further business growth.

Marek Mora emphasized the role of the programme in supporting entrepreneurs and generating high-value employment, highlighting the commitment of European institutions to strengthening Bulgaria’s innovation ecosystem.

Andrey Gyurov underlined that the initiative goes beyond startup funding, focusing on building strategically important industries and retaining talent within the country, while reinforcing transparency and accountability in the allocation of EU funds.

Marjut Falkstedt noted that JEREMIE has already played a significant role in developing Bulgaria’s venture capital and private equity landscape, and that future investments will continue to target high-impact projects driving digitalisation, innovation, and sustainable growth.

Irena Mladenova highlighted a strategic shift toward supporting companies in their growth phase, aiming to transition Bulgaria from a startup-focused ecosystem to one capable of sustaining and scaling successful enterprises domestically.

Since its launch in 2010, JEREMIE Bulgaria has supported more than 10,000 small and medium-sized enterprises and contributed to the development of a dynamic investment environment. The programme has backed over a dozen venture capital and private equity funds, helping finance more than 350 innovative companies, including Payhawk, the country’s first unicorn.

To date, the EIF has deployed more than €1.6 billion in investments, loans, and guarantees through JEREMIE, significantly leveraging initial EU structural funding. The expanded initiative will also support dual-use technologies with applications in both civilian and defence sectors, as well as investments in energy, transport, and digital infrastructure.

Additionally, the programme will provide scale-up financing to reduce the likelihood of successful Bulgarian startups relocating abroad or being acquired by foreign entities. Bulgaria will also become the first country in Central and Eastern Europe to participate in the EIF’s European Tech Champions initiative, further strengthening its role in the European innovation landscape.

Background information

EIB Group

The European Investment Bank (EIB) Group is the financing arm of the European Union, owned by the 27 Member States, and one of the largest multilateral development banks in the world. In 2025, the EIB Group signed €100 billion in new financing and advisory services for over 870 high-impact projects under eight core priorities that support EU policy objectives. In Bulgaria, the EIB Group committed over €646 million in 2025, a 72% increase compared to the previous year.

The European Investment Fund (EIF) is the subsidiary of the EIB Group specialised in providing guarantees and equity to improve access to finance for small and medium-sized businesses and startups across Europe. Acting as an anchor investor, through its extensive network of partnering banks and investment funds, the EIF mobilises private investment and nurtures the ecosystem of venture capital funds to support innovative European entrepreneurs.

JEREMIE

The Joint European Resources for Micro to Medium Enterprises (JEREMIE) initiative is a European Commission programme developed with the European Investment Fund (EIF) that enables EU Member States to use Structural Funds to finance small businesses through loans, guarantees and equity. It operates via a revolving Holding Fund, meaning repaid funds are reinvested into new financial instruments.

JEREMIE Bulgaria is a revolving umbrella fund, set up in 2010 with about €350 million from EU Structural Funds with the aim to boost access to financing for Bulgarian businesses. It is managed by the EIF and overseen by the Ministry of Innovation and Growth. Under the renewed investment strategy, aapproximately €210 million will be deployed across four windows: technology transfer and deep tech, scale-up venture capital, defence equity, and the Three Seas Initiative Infrastructure Fund of Funds.

Media Contacts:

Tsvetelia Tsolova
EIBG Press
t.tsolova@ext.eib.org
+359 888 311 435
www.eib.org/press

Press Office

press@eib.org
+352 4379 21000
www.eib.org/press

Victor Milev
Ministry of Innovation and Growth
press@mig.government.bg
+359 884 701 873
www.mig.government.bg

SOURCE: European Investment Fund