An equity investment of up to EUR 10 million in favour of the venture capital fund SCV Technology Fund III (the "Fund" or "ENIF II"), targeting early stage technology companies in the Western Balkans, Croatia and Slovenia.
The fund will make equity, quasi-equity and equity related investments predominantly in early-stage technology companies in the Western Balkans, Croatia and Slovenia. The fund will have a core early-stage investment focus predominantly targeting investments at late seed/series A funding rounds.
ETI score: 69
The project is in line with the "resilient" transition quality by increasing the availability of venture capital as an alternative source of funds and the "competitive" transition quality by supporting innovation and the development of the fund's portfolio companies.
SCV TECHNOLOGY FUND III CV
The fund is managed by SCV Fund Management B.V.
EBRD Finance Summary
An equity commitment of up to EUR 10 million.
Total Project Cost
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 (ESP 2019). The Fund will be required to comply with EBRD's Performance Requirements 2, 4 and 9, adopt, implement EBRD's Environmental and Social Risk Management Procedures for Active Equity Funds, 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
Tatjana Zabasu Mikuz
PSD last updated
03 Aug 2021
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Environmental and Social Policy (ESP)
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More information on the EBRD’s practices in this regard is set out in the ESP.
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Access to Information Policy (AIP)
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Independent Project Accountability Mechanism (IPAM)
If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).
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