Euroventures Technology and Growth Fund

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 49017

Status Signed

Location

Hungary

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 49017

Status Signed

Location

Hungary

Business Sector

Equity Funds

Notice Type

Private

Environmental Category

Approval Date

31 Oct 2018

Disclosure date

31 May 2018

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."

Translated version of this PSD: Hungarian

Project Description

An equity investment in favour of Euroventures V Technology and Growth Fund Cooperatief UA (the "Fund"). The project will form part of the Bank's Early-Stage Innovation Facility, a EUR 100 million facility through which the EBRD selectively invests in commercially-oriented early-stage venture capital funds.

Project Objectives

The Fund will make equity and equity related investments in technology based early and growthstage MSMEs primarily in Hungary, but also across central and eastern Europe, with the objective of achieving long-term capital appreciation.

Transition Impact

The project will contribute towards the overall transition goals of the Early-Stage Innovation Facility, specifically seeking to enhance the resilience of financial markets by expanding the local venture capital asset class and increasing the competitiveness of innovative MSMEs.

Client Information

EUROVENTURES TECHNOLOGY AND GROWTH FUND

The Fund will be managed by Euroventures, one of the longest-established private equity and venture capital firms in Hungary.

EBRD Finance Summary

EUR 10,000,000.00

EBRD is considering an equity investment of up to EUR 10 million.

Total Project Cost

EUR 50,000,000.00

The Fund is targeting total commitments of EUR 50 million.

Environmental and Social Summary

Categorised FI (ESP 2014). The Fund will be required to comply with EBRD's Performance Requirements 2, 4 and 9, adopt and implement EBRD Environmental and Social Procedures for Active Equity Funds and submit Annual Environmental and Social Reports to the Bank.

Technical Cooperation

None.

Company Contact Information

Péter Tánczos
office@euroventures.hu
+36 1 309 7900
www.euroventures.hu
H-1124 Budapest, Mártonhegyi út 61/A

PSD last updated

01 Feb 2019

Business opportunities

For business opportunities or procurement, contact the client company.

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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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