Enterprise Innovation Fund (ENIF)

9.1m €
invested in SMEs
supported companies
jobs supported

What is ENIF?

Active since 2016, the Enterprise Innovation Fund is a venture capital fund focusing on an investment portfolio consisting of innovative SMEs at various stages of business development, from the seed to expansion phase, in the Western Balkans. ENIF aims at reinforcing the financial structure of innovative SMEs resulting in a strong and bankable balance sheet.

Learn more about ENIF

ENIF focuses on highly specialised, innovative SMEs in the Western Balkans (Albania, Bosnia and Herzegovina, Croatia, Kosovo*, former Yugoslav Republic of Macedonia, Montenegro and Serbia).

ENIF provides equity and quasi-equity finance to stimulate and support commercially viable research in innovative SMEs

Investors into ENIF are the European Commission (EC), the European Investment Fund (EIF), the European Bank for Reconstruction and Development (EBRD), Kreditanstalt für Wiederaufbau (KfW) together with institutional and private investors from the Western Balkans. ENIF also includes investments from the beneficiary economies of the Western Balkans.

The fund is set up as an independent entity and is managed by South Central Ventures; a skilled and experienced professional team selected by EIF, which operates according to best industry practices, and complies with professional standards issued by Invest Europe (formerly the EVCA).

More details on ENIF’s portfolio can be found on South Central Ventures home page here

Key facts and features

  • for innovative SMEs from their early to development stage

  • target fund size € 40 million

  • provides equity and quasi equity financing

  • SMEs can obtain investments from € 100 000 up to € 1.5 million

  • 40-60 innovative SMEs in the region including approximately 25-30 companies within the dedicated seed compartment

The Enterprise Innovation Fund - Background

According to the 2014-2015 World Economic Forum Global Competitiveness Index, the Western Balkans regions have limited innovation and venture capital available, despite the relatively good quality of scientific research institutions and progress in the economy. Equity investment instruments can therefore address some of these shortcomings and aim to set the basis for further development of these companies. This is why an early stage fund was considered as an important element for the WB EDIF Platform in order to help SMEs which are just starting out in their venture.

Contact to apply:

For more information please visit www.sc-ventures.com.

To get in touch with the investment team please write to info@sc-ventures.com.

News & Events


Next year’s Berlin Process Summit to be held in the city of Poznań

Deputy Ambassador of Republic of Poland to Serbia, Mr Andrzej Kindziuk, announced that his country will host the next year’s Berlin Process Summit in the city of Poznań, due to its economic and historical significance. The announcement came during the event on the future of Berlin Process, organised by the European Western Balkans portal.


The fifth Berlin Process Summit got underway with a meeting of Economy Ministers in Vienna

The fifth Berlin Process Summit, hosted by the United Kingdom, got underway with a meeting of Economy Ministers in Vienna on 4 July.

Discussions in Vienna focused on how the Berlin Process could best support economic growth in the region, including through the implementation of the Western Balkans Multi-Annual Action Plan for a Regional Economic Area Plan – a proposal agreed at the 2017 Berlin Process Summit to allow for the unobstructed flow of goods, services, capital and highly-skilled labour across the region, so as to promote investment and trade.

See more news & events

Case studies


Serbia Case Study

Renting or buying real estate is a process which impacts everyone at some point in their lives and yet, it is perhaps one of the least modernised services in today’s world. Find out how WB EDIF’s early stage innovation fund, ENIF supported this Serbian company.

WBEDIF Succes Stories – CitiExpert

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