Earlybird Digital East Fund II

Location:

Regional

Project number:

50444

Business sector:

Equity funds

Notice type:

Private

Target board date:

30 Oct 2019

Status:

Exploratory

PSD disclosed:

09 Sep 2019

Project Description

The proposed transaction is an equity commitment of up to EUR 30 million in favour of Earlybird Digital East Fund II (the "Fund").

Project Objectives

The Fund will make equity and equity related investments in technology based early and growthstage micro, small and medium-sized enterprises in Central and South Eastern Europe, Turkey and Jordan, with the objective of achieving long-term capital appreciation.

Transition Impact

The Bank's investment will provide long-term financing to technology based early and growth-stage micro, small and medium-sized enterprises in Central and South Eastern Europe, Turkey and Jordan, thereby increasing the competitiveness of investee companies and strengthening the resilience of the domestic financial sector by developing alternative sources of funding and expanding venture capital as an asset class.

Client Information

DIGITAL EAST FUND II SCSP

EBRD Finance Summary

EUR 30,000,000.00

Total Project Cost

EUR 150,000,000.00

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's Environmental and Social Risk Management Procedures for Active Equity Funds and submit Annual Environmental and Social Reports to the Bank.

Technical Cooperation

None.

Company Contact Information

Cem Sertoglu
sertoglu@earlybird.com
+90 212 257 24 14
http://www.earlybird.com
Kucuk Bebek Caddesi, No:1 D:1 Bebek 34342, Besiktas/Istanbul

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