VCIP II Second Envelope

Location:

Regional

Project number:

51558

Business sector:

Information and Communication Technologies

Notice type:

Private

Environmental category:

FW

Target board date:

27 Nov 2019

Status:

Passed Final Review, Pending Board Approval

PSD disclosed:

25 Oct 2019

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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), invests 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. In order to continue to maintain the investment rate and meet the demand in the ongoing pipeline conversion, additional funds are sought to be allocated over the remainder of the VCIP II investment period. 

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 50,000,000.00

Total Project Cost

EUR 50,000,000.00

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

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

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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

Project Complaint Mechanism (PCM)

The Project Complaint Mechanism (PCM) is the EBRD's accountability mechanism. It provides an opportunity for an independent review of complaints from individuals and organisations concerning EBRD-financed projects which are alleged to have caused, or are likely to cause, environmental and/or social harm.

Please visit the Project Complaint Mechanism page to find information about how to submit a complaint. The PCM Officer (pcm@ebrd.com) is available to answer any questions you may have regarding the submission of a complaint and criteria for registration and eligibility, in accordance with the PCM Rules of Procedure.