EBRD backs growth in central and eastern Europe and Türkiye with CEECAT Fund III investment

• EBRD invests up to €40 million in CEECAT Fund III
• Fund will support growth of SMEs and mid-cap companies across central and eastern Europe and Türkiye
• Investment will also strengthen regional private equity markets and promote cross-border business expansion

The European Bank for Reconstruction and Development (EBRD) is investing up to €40 million in CEECAT Fund III, a private equity fund that will provide growth capital to small and medium-sized enterprises (SMEs) and mid-cap companies across central and eastern Europe and Türkiye.

The fund has reached a first close of €135 million and is targeting total commitments of €200 million, with a hard cap of €250 million. The first close was anchored by cornerstone investors including the EBRD and the European Investment Fund, alongside commitments from new and existing investors.

The investment will support the development of private equity markets across the EBRD regions, providing an alternative source of long-term financing for growing businesses at a time when fundraising conditions remain challenging. By mobilising institutional capital and supporting local enterprises, the fund is expected to strengthen and strengthen financial markets.

CEECAT Fund III will focus primarily on companies in Bulgaria, Croatia, Romania, Serbia, Slovenia and Türkiye. It will invest in businesses with strong growth potential, helping them to expand operations, increase their competitiveness and pursue cross-border opportunities.

The fund manager, CEECAT Capital, is a longstanding EBRD partner with a track record of investing in small and mid-market companies across central and eastern Europe and Türkiye since 2005. Fund III continues the strategy pursued under CEECAT Fund II, focusing on value creation, operational improvements and regional growth.

In addition to supporting business expansion, CEECAT Fund III will promote high standards of corporate governance and responsible business conduct across its portfolio. The fund will also seek opportunities in green investments and apply a gender-inclusive approach aimed at broadening economic opportunities and supporting more inclusive growth.

The EBRD has been supporting the development of private equity and venture capital markets across its economies for more than three decades, helping businesses access growth capital, strengthen corporate governance and attract private investment.