Innova/6

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 49349

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 49349

Status Signed

Location

Regional

Business Sector

Equity Funds

Notice Type

Private

Environmental Category

Approval Date

27 Feb 2018

Disclosure date

19 Dec 2017

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

An equity investment of up to EUR 40 million in Innova/6 (the "Fund").

Project Objectives

The Fund will seek to generate long-term capital gains from equity and quasi-equity buyout investments in a diversified portfolio of mid-cap companies in Poland and Central and South Eastern Europe ("CSE") with a primary focus on Poland.

Transition Impact

The Bank's participation in the Fund will contribute to the development of alternative funding sources for companies in CSE which can help promote private and entrepreneurial initiatives. Additionally, the Fund is expected to increase the overall competitiveness of portfolio companies and develop
alternative funding sources for the corporate sector in the region.

Client Information

INNOVA CAPITAL

The Fund will be managed by Innova/6 GP S.a.r.l. and advised by Innova Capital Sp. z o. o. Sp. K (Poland).

EBRD Finance Summary

EUR 40,000,000.00

An equity commitment of up to EUR 40 million.

Total Project Cost

EUR 300,000,000.00

The target size of the Fund is EUR 300 million.

Environmental and Social Summary

Categorised FI: (ESP 2014). The Fund Manager is well known to the Bank and has been satisfactorily applying the EBRD's E&S requirements under existing exposures. Innova Capital has a Responsible Investment Policy which considers ESG factors for each individual portfolio company has an Environment Policy and Environmental and Social Management System (ESMS). Innova Capital will be required to continue 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

Katarzyna Kaczmarek
ir@innovacap.com
+48 22 544 94 00
+48 22 544 94 03
www.innovacap.com
Innova Capital Limited, Rondo ONZ 1, 35th Floor, 00-124, Warsaw, Poland

Transition impact

ETI Score:61

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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