The EBRD is considering an equity investment of up to USD 8 million in Badia Impact Fund C.V (the “Fund”), an early-stage venture capital fund established as a limited partnership in The Netherlands.
The Fund will make equity and equity related investments predominantly in early-stage technology companies primarily active in Jordan and the Southern and Eastern Mediterranean region.
The EBRD’s proposed investment is expected to contribute to the expansion of the venture capital industry in Jordan, Egypt, Tunisia and Morocco, thereby providing the much needed long term equity financing to innovative technology oriented micro, small and medium-sized companies. Furthermore, the Bank’s investment is expected to have a positive impact on the implementation of standards for governance both at the level of the regional venture capital industry and on the Fund’s portfolio companies.
Badia Impact Capital Partners, B.V. (the “General Partner”), a limited liability company incorporated in The Netherlands is the general partner and Badia Management Company B.V., (the “Investment Manager”), a limited liability company incorporated in The Netherlands, is the manager of the Fund.
The EBRD is proposing to make an equity investment of up to USD 8 million.
The target size of the Fund is USD 30 million.
Categorised FI: The Fund will be required to comply with the EBRD's Performance Requirement 2 (Labour and Working Conditions) and Performance Requirement 9 (Financial Intermediaries). The Fund will be required to adopt and implement the Bank’s E&S Procedures for Active Equity Investments, adhere to the EBRD's Environmental and Social Exclusion and Referral lists, and submit Annual Environmental and Social reports to the EBRD.
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