The European Investment Fund (EIF) is a specialist provider of risk finance for small and medium-sized enterprises (SME) across Europe. It is part of the EIB Group, and its shareholders are the European Investment Bank (EIB), the European Union, represented by the European Commission, and a wide range of public and private banks and financial institutions.

The EIF uses its own resources or those provided by the European Investment Bank, the European Commission, EU Member States or other third parties to develop and offer targeted financial products to intermediaries, such as banks, guarantee and leasing companies, micro-credit providers and private equity funds. It does not lend or give money directly to beneificaries. The goal is to enhance SMEs' access to finance.

The EIF is backed partly by the InvestEU fund which supports sustainable investment, innovation and job creation across Europe and promotes recovery, green growth, employment and well-being. The EIF is therefore able to mobilise EUR 25.9bn for the SME market by providing debt and equity financing to eligible financial intermediaries across Europe, such as equity funds, debt funds, infrastructure funds banks and microfinance institutions.

InvestEU's target areas include circular economy infrastructure and the bioeconomy.