Polish Enterprise Fund VII (F.Enterprise Fund 2012)

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 43138

Status Signed

Location

Regional

Business Sector

Equity Funds

Notice Type

Private

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Project ID 43138

Status Signed

Location

Regional

Business Sector

Equity Funds

Notice Type

Private

Environmental Category

Approval Date

09 May 2012

Disclosure date

23 Mar 2012

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

Project Description

The EBRD is considering a scalable equity investment of up to €80 million in Polish Enterprise Fund VII (the “Fund”), a private equity investment fund targeting €650 million in commitments.

The Fund will seek to achieve long term capital appreciation by making equity and equity-related investments in medium-sized companies which require capital to take advantage of growth opportunities and a hands-on partner to help them execute their business plans. The Fund will invest in companies established throughout Central and South Eastern Europe (“CSE”).

Transition Impact

By investing in the Fund, the EBRD will support a leading, locally based private equity group with a strong track record in the region. The transition impact will come from the following areas:

(i) supporting the growth and development of mid-market enterprises in CSE, to a stage where they can access strategic FDI or public markets capital through providing the equity investment combined with the Fund Manager’s know-how and expertise;

(ii) supporting the nascent asset class in CSE during a period of investor uncertainty over the Eurozone and over the impact of ongoing regulatory changes, and strengthening the number of fund managers actively investing in CSE during a challenging fund raising environment; and

(iii) demonstrating sound corporate governance standards and business conduct in the investee companies through influence on strategic decisions and best operational practices.

The Client

The Fund will be registered as a Cayman Islands limited partnership and will be managed by Enterprise Investors Corporation (“EIC”), based in Delaware.

Founded in 1990, EIC is an established private equity fund manager in CSE. It has led a number of prominent investments over the course including the first company listed on the WSE by a PE firm. It has contributed to setting industry standards by founding and leading numerous initiatives of the Polish Venture Capital Association, supporting the development of an equity culture in CSE.

EBRD Finance

Equity investment of up to €80 million to the Fund.

Project Cost

The Fund is targeting maximum commitments of €650 million.

Environmental Impact

Categorised FI.

The Fund shall comply with the EBRD Performance Requirements 2 (Labour and Working Conditions) and 9 (Financial Intermediaries), and implement the EBRD’s Environmental and Social Procedures for Active Equity Investments. The Fund shall ensure investee companies comply with national environmental, occupational health and safety standards, social and labour standards.

The Fund will be required submit annual environmental and social reports to the Bank

Technical Cooperation

None.

Company Contact

Jacek Siwicki
President, Enterprise Investors
Warsaw Financial Center
ul. Emilii Plater 53
00-113 Warsaw, Poland

Tel.: +48 22 458 85 00
Fax: +48 22 458 85 55
E-mail: jacek.siwicki@ei.com.pl

Transition impact

ETI Score:75

PSD last updated

01 Feb 2019

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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