EARLY-STAGE INNOVATION FACILITY

Location:

Regional

Project number:

45486

Business sector:

Equity funds

Notice type:

Private

Environmental category:

FI

Target board date:

10 Dec 2014

Status:

Board Approved

PSD disclosed:

27 Oct 2014

Project Description



The Early-Innovation Facility (“ESIF”) is a dedicated EUR 100 million facility through which the EBRD will selectively invest in commercially-oriented early-stage venture capital funds.

Transition Impact

Transition impact will be derived from: (i) expansion of the early-stage financing market for innovation based enterprises in the EBRD countries of operation, (ii) institutionalisation and setting standards for corporate governance of early-stage investment vehicles, and (iii) accelerating the development of the early-stage venture financing ecosystem by facilitating knowledge sharing and skills transfer between the early-stage ecosystem participants.

The Client

Through ESIF the EBRD will support selected best-in-class early-stage investment vehicles.

EBRD Finance

EUR 100 million framework. Maximum of EUR 10 million EBRD finance per sub-project.

Project Cost

Each sub-project will be required to raise 3rd party capital.

Environmental Impact

The individual sub-projects will all involve providing financing to financial intermediaries. Each sub-project will be required to comply with the EBRD Environmental and Social Policy requirements.

Technical Cooperation

TC funding may be sought in the future.

Company Contact

Troy A. Weeks: weekst@ebrd.com

Michael Parry: parrym@ebrd.com

Business opportunities

For business opportunities or procurement, contact the client company.

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com

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.
Text of the PIP

Project Complaint Mechanism (PCM)

The EBRD has established the Project Complaint Mechanism (PCM) to provide an opportunity for an independent review of complaints from one or more individuals or from organisations concerning projects financed by the Bank which are alleged to have caused, or likely to cause, harm. The Rules of Procedure governing the PCM can be found at www.ebrd.com/downloads/integrity/pcmrules.pdf, the Russian version can be accessed at http://www.ebrd.com/downloads/integrity/pcmrulesr.pdf

Any complaint under the PCM must be filed no later than 12 months after the last distribution of EBRD funds. You may contact the PCM officer (at pcm@ebrd.com) or the relevant EBRD Resident Office for assistance if you are uncertain as to the period within which a complaint must be filed.

Project Summary Documents are created before consideration by the EBRD Board of Directors. Details of a project may change following disclosure of a Project Summary Document. Project Summary Documents cannot be considered to represent official EBRD policy.

Last updated 24 October 2014

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

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

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.