European Investment Fund is an EU-backed institutional investor that primarily functions as an LP/fund allocator, investing into venture capital, private equity, and SME financing vehicles across Europe. The EIF generally does not invest directly into startups; instead, it funds VC managers and financing programs. For founders, the EIF is not actionable for direct fundraising, but it is important context because EIF-backed funds often have more capital and longer runway to support European startups.