An independent Investment Committee approves the use of the EU guarantee for financing and investment operations proposed by the implementing partners, taking its decision on the basis of the due diligence presented by the implementing partner in the so-called scoreboard and guarantee request form. In doing this, it verifies the compliance with the regulation and the investment guidelines, giving particular attention to the requirements of (i) additionality and (ii) crowding in private investment, as well with all the other relevant prerequisites.
The Investment Committee meets in four different configurations, corresponding to the four policy windows. The Investment Committee is fully independent. When participating in the activities of the Investment Committee, its members, who have experience in investment in sectors covered by the relevant policy window, perform their duties impartially and in the sole interest of the InvestEU Fund.
EU guarantee approvals
Aggregated maximum size of approved EU guarantee (EU compartment): €25.8 billion (as of September 2025)
27 OCTOBER 2025
Amendment for meeting in 2022- 2025: EU Guarantee approvals for projects previously subject to a confidentiality agreement, as of 30 September 2025
6 JUNE 2025
Amendment for meetings in 2022-2025: EU Guarantee approvals for projects previously subject to a confidentiality agreement, as of 31 March 2025
21 NOVEMBER 2024
Amendment for meetings in 2022-2024: EU Guarantee approvals previously subject to a confidentiality agreement, by 30 September 2024
21 MAY 2024
Amendment for meetings no 3, 6, 14, 16, 18, 20 and 21: EU Guarantee approvals previously subject to a confidentiality agreement, by 31 March 2024
19 DECEMBER 2025
Meeting no 48 – EU Guarantee approvals – 12 December 2025
18 DECEMBER 2025
Meeting no 47 – EU Guarantee approvals – 04-05 December 2025
Conclusions: RENFE SUBURBAN ROLLING STOCK CATALONIA
15 JANUARY 2026
Scoreboard: RENFE SUBURBAN ROLLING STOCK CATALONIA
Sustainable Infrastructure Window + Research, Innovation and Digitisation Window
21 OCTOBER 2025
Conclusions: Clean Energy Transition II
21 OCTOBER 2025
Scoreboard: Clean Energy Transition II
Research, Innovation and Digitisation Window
27 OCTOBER 2025
Conclusions: Biovet RDI Programme
27 OCTOBER 2025
Scoreboard: Biovet RDI Programme
26 MAY 2025
Investment Committee of the InvestEU Fund - Meeting no. 40 - 7 May 2025
Social Investment and Skills Window
15 JANUARY 2026
Conclusions – ICF ELDERLY AND VULNERABLE CARE RESIDENCES (ES)
15 JANUARY 2026
Scoreboard – ICF ELDERLY AND VULNERABLE CARE RESIDENCES (ES)
30 JUNE 2025
Investment Committee of the InvestEU Fund - Meeting no. 39, 3 April 2025
2 APRIL 2025
Meeting no 38 – EU Guarantee approval - 11-12 March 2025
19 FEBRUARY 2025
Meeting no 37 – EU Guarantee approvals – 30-31 January 2025
10 FEBRUARY 2025
Meeting no 36 - EU guarantee approvals - 16 December 2024
Research, Innovation and Digitisation Window
21 JANUARY 2025
Conclusions - GVM ADVANCED MEDICAL DEVICES RDI (IT)
21 JANUARY 2025
Scoreboard - GVM ADVANCED MEDICAL DEVICES RDI (IT)
Small and Medium Enterprises Window
3 JULY 2025
Conclusions: FRAMEWORK OPERATION #49 FOR SME COMPETITIVENESS GUARANTEE – SPAIN InvestEU MEMBER STATE COMPARTMENT (Capped Guarantee) (ES)
3 JULY 2025
Scoreboard: FRAMEWORK OPERATION #49 FOR SME COMPETITIVENESS GUARANTEE – SPAIN InvestEU MEMBER STATE COMPARTMENT (Capped Guarantee) (ES)
3 JULY 2025
Conclusions: FRAMEWORK OPERATION #50 FOR THE INNOVATION AND DIGITALISATION GUARANTEE – SPAIN InvestEU MEMBER STATE COMPARTMENT (Capped and/or Uncapped Guarantee) (ES)
3 JULY 2025
Scoreboard: FRAMEWORK OPERATION #50 FOR THE INNOVATION AND DIGITALISATION GUARANTEE – SPAIN InvestEU MEMBER STATE COMPARTMENT (Capped and/or Uncapped Guarantee) (ES)
Sustainable Infrastructure Window and Small and Medium Enterprises Window
3 JULY 2025
Conclusions: FRAMEWORK OPERATION #48 FOR THE SUSTAINABILITY GUARANTEE PRODUCT – SPAIN InvestEU MEMBER STATE COMPARTMENT (Capped and/or Uncapped Guarantee)
3 JULY 2025
Scoreboard: FRAMEWORK OPERATION #48 FOR THE SUSTAINABILITY GUARANTEE PRODUCT – SPAIN InvestEU MEMBER STATE COMPARTMENT (Capped and/or Uncapped Guarantee)
8 SEPTEMBER 2025
Meeting no 35 – EU Guarantee approvals – 5-6 December 2024
Sustainable Infrastructure Window
13 JANUARY 2025
Conclusions – PPCR Solar PV Batteries FL (EL)
13 JANUARY 2025
Scoreboard – PPCR Solar PV Batteries FL (EL)
3 JULY 2025
Conclusions: Caixabank Pan-EU Power Package (Multi-country)
3 JULY 2025
Scoreboard: Caixabank Pan-EU Power Package (Multi-country)
5 JUNE 2025
Conclusions - BALTYK II & BALTYK III OFFSHORE
5 JUNE 2025
Scoreboard - BALTYK II & BALTYK III OFFSHORE
14 JANUARY 2026
Conclusions – ZERO CARBON LITHIUM (DE)
14 JANUARY 2026
Scoreboard – ZERO CARBON LITHIUM (DE)
Research, Innovation and Digitisation Window
13 JANUARY 2025
Scoreboard: Electrolux Energy Efficient White Goods RDI
13 JANUARY 2025
Conclusions: Electrolux Energy Efficient White Goods RDI
Social Investment and Skill Windows
12 FEBRUARY 2025
Conclusions - KU LEUVEN HEALTH SCIENCES CAMPUSES
12 FEBRUARY 2025
Scoreboard - KU LEUVEN HEALTH SCIENCES CAMPUSES
30 SEPTEMBER 2025
Conclusions: Qredits loan For Micro & SMEs (NL)
30 SEPTEMBER 2025
Scoreboard: Qredits loan For Micro & SMEs (NL)
10 NOVEMBER 2025
Conclusions: FRAMEWORK OPERATION #46 FOR THE CAPACITY BUILIDING INVESTMENT PRODUCT (“CBI” OR “CBI PRODUCT”) (MULTI-COUNTRY)
10 NOVEMBER 2025
Scoreboard: FRAMEWORK OPERATION #46 FOR THE CAPACITY BUILIDING INVESTMENT PRODUCT (“CBI” OR “CBI PRODUCT”) (MULTI-COUNTRY)
16 JANUARY 2026
Conclusions - (4th) FRAMEWORK OPERATION #47 FOR MICROFINANCE, SOCIAL AND SKILLS GUARANTEE PRODUCT (Microfinance and Social Enterprises) (CAPPED GUARANTEE)(MULTI-COUNTRY)
16 JANUARY 2026
Scoreboard - (4th) FRAMEWORK OPERATION #47 FOR MICROFINANCE, SOCIAL AND SKILLS GUARANTEE PRODUCT (Microfinance and Social Enterprises) (CAPPED GUARANTEE) (MULTI-COUNTRY)
19 FEBRUARY 2025
Meeting no 34.2 – EU Guarantee approvals – 26 November 2024
Social Investment and Skills Window
8 APRIL 2025
Conclusions - UNIVERSITY OF CRETE - STUDENT ACCOMMODATION PP
8 APRIL 2025
Scoreboard - UNIVERSITY OF CRETE - STUDENT ACCOMMODATION PP
19 FEBRUARY 2025
Meeting no 34.1 – EU Guarantee approvals – 25 November 2024
17 JULY 2025
Meeting no 34 – EU Guarantee approvals – 14-15 November 2024
Sustainable Infrastructure Window
13 MARCH 2025
Conclusions – Valoo
18 SEPTEMBER 2025
Scoreboard - Valoo
Research, Innovation and Digitisation Window
17 JULY 2025
Scoreboard: Quix Quantum B.V.
17 JULY 2025
Conclusions: Quix Quantum B.V.
Sustainable Infrastructure Window and Small and Medium Enterprises Window
Meeting no 33 – EU Guarantee approvals - 29 October 2024
Social Investment and Skill Windows
18 DECEMBER 2024
Conclusions - Nouvel Hopital De Tours
18 DECEMBER 2024
Scoreboard - Nouvel Hopital De Tours
8 SEPTEMBER 2025
Meeting no 32 – EU Guarantee approvals – 10-11 October 2024
Sustainable Infrastructure Window
2 DECEMBER 2024
Conclusions - Betica PV Portfolio
2 DECEMBER 2024
Scoreboard- Betica PV Portfolio
18 NOVEMBER 2024
Conclusions: Inbank Climate Action for Private Individuals
18 NOVEMBER 2024
Scoreboard: Inbank Climate Action for Private Individuals
8 SEPTEMBER 2025
Conclusions: Balticovo
8 SEPTEMBER 2025
Scoreboard: Balticovo
Sustainable Infrastructure Window and Small and Medium Enterprises Window
10 FEBRUARY 2025
Increase of Framework Operation #37 for Sustainability Guarantee Product (Multi-country)
Sustainable Infrastructure Window and Social Investment and Skills Window
8 APRIL 2025
Conclusions - Sub-project (iGeneration) of Investment Platform for social infrastructure with CDP Real Asset SGR S.p.A. (CDP RA) (IEU – CDP Social Infrastructure)
Sustainable Infrastructure Window
8 JANUARY 2025
Conclusions - Santander Pan-Eu Wind Power Package Rs (Multi-Country)
8 JANUARY 2025
Scoreboard - Santander Pan-Eu Wind Power Package Rs (Multi-Country)
Sustainable Infrastructure Window
28 JULY 2025
Conclusions: Valle Umbra Servizi
Sustainable Infrastructure Window
14 JANUARY 2025
Conclusions – SG PAN EU Wind Package Risk Sharing
14 JANUARY 2025
Scoreboard: SG PAN EU Wind Package Risk Sharing
31 JULY 2024
Meeting no 30 – EU Guarantee approvals – 11-12 July 2024
Conclusions - Framework operation #12 for Innovation & Digitalisation Guarantee
24 JANUARY 2023
Scoreboard - Framework operation #12 for Innovation & Digitalisation Guarantee
24 JANUARY 2023
Conclusions - Framework operation #4 for SME Competitiveness Guarantee
24 JANUARY 2023
Scoreboard - Framework operation #4 for SME Competitiveness Guarantee
22 DECEMBER 2022
Conclusions - Framework operation #2 for Cultural and Creative Sector Guarantee
22 DECEMBER 2022
Scoreboard - Framework operation #2 for Cultural and Creative Sector Guarantee
Sustainable infrastructure & Research, innovation and digitisation windows
22 DECEMBER 2022
Conclusions - Thematic green transition (InvestEU VD) debt PL
22 DECEMBER 2022
Scoreboard - Thematic green transition (InvestEU VD) debt PL
SME & Sustainable infrastructure windows
22 DECEMBER 2022
Conclusions - Framework operation #14 for Sustainability guarantee product
22 DECEMBER 2022
Scoreboard - Framework operation #14 for Sustainability guarantee product
17 OCTOBER 2022
Amendment for meetings no 3 - 5: EU Guarantee approvals previously subject to a confidentiality agreement, by 30 September 2022
29 JUNE 2022
InvestEU Investment Committee meeting no 5 (7-8 June 2022) – EU Guarantee Approvals
Sustainable infrastructure window
Mirova Energy Transition V Fund (EIF)
Infrastructure fund focusing on sustainable investments in the renewable energy sector primarily in the European Economic Area, with a certain focus on France.
Venture capital fund focusing on early stage investments in the Business and Industrial Products and Services sector primarily in the Netherlands
SME window
Innova/ 7 (EIF)
Generalist private equity fund focusing on lower mid-market investments, particularly tech driven companies, primarily in Poland and, to a lesser extent, other Central and Eastern European countries.
9 NOVEMBER 2022
Scoreboard – Innova 7
9 NOVEMBER 2022
Conclusions – Innova 7
Usaldusfond Trind Ventures Fund II (EIF)
Venture capital fund focusing on early stage ICT investments primarily in Finland, Estonia, Latvia and Lithuania.
9 NOVEMBER 2022
Scoreboard – Usaldusfond Trind Ventures Fund II
9 NOVEMBER 2022
Conclusions – Usaldusfond Trind Ventures Fund II
Shift4Good Fund I (EIF)
Pan-European venture capital impact fund focusing on early stage energy and environment-related investments, particularly in the mobility and transport sectors, primarily in EU-27 and EFTA countries, with a certain focus on France.
9 NOVEMBER 2022
Scoreboard – Shift4Good Fund I
9 NOVEMBER 2022
Conclusions – Shift4Good Fund I
Pureterra Ventures I (EIF)
Venture capital fund focusing on early stage energy and environment-related investments, with a focus on the water technology sector, primarily in the Netherlands, Germany and France.
9 NOVEMBER 2022
Scoreboard – Pureterra Ventures I
9 NOVEMBER 2022
Conclusions – Pureterra Ventures I
Green Generation Fund (EIF)
Venture capital fund focusing on early stage investments in the resource efficiency sector primarily in Europe, with a certain focus on the DACH and Nordic regions and the UK.
9 NOVEMBER 2022
Scoreboard – Green Generation Fund
9 NOVEMBER 2022
Conclusions – Green Generation Fund
Social investment and skills window
Educapital II, FPCI (EIF)
Pan-European education technology impact fund focusing on early stage investments, with a particular focus on France
22 DECEMBER 2022
Conclusions - Educapital II
22 DECEMBER 2022
Scoreboard - Educapital II
Research, Innovations and Digitation & SME Windows
4 JANUARY 2023
Conclusions - Forward.One Fund II
4 JANUARY 2023
Scoreboard - Forward.One Fund II
16 JUNE 2022
InvestEU Investment Committee meeting no 3 (31 March-1 April 2022) – EU Guarantee Approvals