Project description
and objectives:
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The proposed project is a private equity fund with a target size of EUR 40
million that will invest in small and medium-sized enterprises primarily
located in Bulgaria and Romania. The fund will target leading technology
companies having proprietary technologies and focusing on software and IT
services industry. The fund will make investments in cash generating middle
market companies with strong management.
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Transition impact:
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Transition impact will be the result of sound investments in growing privately
owned companies in the targeted countries. The fund manager is expected to
adopt a hands-on approach by taking board positions in portfolio companies and
transferring technical expertise and know-how. Through the significant
involvement of its local team, the fund is expected to contribute towards the
transfer of investment skills to local managers. The competitiveness of the
portfolio companies will increase, thus developing the local markets and
attracting strategic investors.
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The client:
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NEVEQ is a venture capital fund of a closed type, established and registered
in the Cayman Islands.
NEVEQ Capital Partners Limited, a British Virgin islands Business Company, is
the General Partner and will manage the Fund.
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EBRD finance:
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The EBRD commits to invest an amount equivalent to 20% of the total aggregate
capital commitments to the fund up to EUR 10 million.
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Total project cost:
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Expected target size of the fund is EUR 40 million.
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Environmental impact:
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NEVEQ will adopt and implement environmental due diligence procedures based on
the EBRD’s Environmental Procedures for Private Equity Funds. NEVEQ must
adhere to the requirements of the Bank's Environmental Exclusion and Referral
List and ensure that investee companies comply, at a minimum, with national
standards for environment, health and safety and labour and where NEVEQ is
investing in a start-up company, relevant EU environmental standards. NEVEQ
will provide the Bank with annual environmental reports.
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Technical
cooperation:
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None.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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Company contact:
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Mr Ivo Evgeniev or Mr Konstantin Petrov
NEVEQ Capital Partners Limited
23,
Kustendil Str.
Sofia, Bulgaria
Phone: +359 2 850 4000
Mobile: +359 898 600 617 or +359 888 922 360
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EBRD contact:
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Hrvoje Crnogorac, Operation Leader: crnogorh@ebrd.com
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Business opportunities:
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For business opportunities or procurement, contact the client company.
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General enquiries:
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EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com
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