An equity investment of up to USD 10 million in favour of the venture capital fund Badia Impact Squared (the "fund") targeting early stage technology companies in the SEMED region. 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.
The fund will make equity, quasi-equity and equity related investments predominantly in early-stage technology companies in Jordan, Egypt, Tunisia, Morocco and Lebanon, with a principal focus on Jordan and Egypt. The fund will have a core early-stage investment focus predominantly targeting investment tickets at Series A.
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 innovation MSMEs.
BADIA IMPACT SQUARED CV
The fund is managed by Badia Impact Squared Capital Partners GP B.V. (the "fund manager").
EBRD Finance Summary
An equity commitment of up to USD 10 million.
Total Project Cost
The target size of the fund is USD 50 million.
The lack of availability of capital for private equity and venture capital in the region means that IFIs such as the EBRD continue to play a key role in supporting successful fundraisings.
Environmental and Social Summary
Categorised FI (2014). This is a repeat client and the Fund Manager will be required to continue to comply with EBRD Performance Requirements 2, 4 and 9; continue to implement the EBRD's E&S Procedures for Active Equity Investments and submit Annual Environmental and Social Reports to the Bank. The Fund intends to invest in the technology sector and the investments are expected to present low environmental and social risks.
Technical Cooperation and Grant Financing
Company Contact Information
123 Zahran Street 4th Circle Amman 11183, Jordan
PSD last updated
29 Apr 2020
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Independent Project Accountability Mechanism (IPAM)
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