Venture Capital Investment Programme (VCIP) II

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 50118

Status Approved

Location

Countries of Operations

Project timeline

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

Project ID 50118

Status Approved

Location

Countries of Operations

Approval Date

06 Jun 2018

Disclosure date

24 Apr 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 versions of this PSD

Project Description

EBRD, through its Venture Capital Investment Programme II (VCIP II, which is a continuation of EBRD's existing programme, VCIP, and is a dedicated framework facility of €100 million), will aim to invest in early and growth stage technology companies via equity and equity-linked instruments (investment size up to €15 million) in the Bank's countries of operation alongside experienced venture capital co-investors. Investments target innovative and high growth small and medium sized companies largely under-serviced by the limited venture capital community to help fill the venture capital equity "gap" in the market.

Project Objectives

i) VCIP enables the Bank to foster knowledge economies in the Region, develop technology ecosystems and support innovation; ii) the Bank, through VCIP, plays an important role in bridging the venture capital funding gap that exists in the Region; iii) VCIP allows the Bank to maintain a portfolio approach to higher risk / higher return investment opportunities.

Transition Impact

The VCIP II Facility is expected to contribute to the Competitive and Resilient transition qualities as it will support the development of recently established highly innovative technology-based companies, as well as promote better access to venture capital which is still nascent in the EBRD Region. The VCIP II Facility will build on the success of the first VCIP I Facility and provide a key support for the development of the knowledge economy in the EBRD Region, in line with the EBRD's Knowledge Economy Initiative, in particular Stream 3 - Small Technology Based Companies.

Client Information

On a case by case basis.

EBRD Finance Summary

EUR 100,000,000.00

Total Project Cost

EUR 100,000,000.00

Environmental and Social Summary

The Facility itself is not categorised under the Bank's 2014 Environmental and Social Policy, however, each sub-project will be categorised on a case by case basis and will be subject to individual environmental and social due diligence (ESDD) and GET examination specific to the project and the client. Based on the sub-project's category, appropriate ESDD will verify that each sub-project is structured to comply with the Bank's PRs.

Technical Cooperation

None.

Company Contact Information

Bakhrom Ibragimov
02073386000

Transition impact

ETI Score:80

PSD last updated

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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