Euroventures Technology and Growth Fund

Location:

Hungary

Project number:

49017

Business sector:

Equity funds

Notice type:

Private

Environmental category:

FI

Target board date:

31 Oct 2018

Status:

Signed

PSD disclosed:

31 May 2018

Translated version of this PSD: Hungarian

Project Description

An equity investment in favour of Euroventures V Technology and Growth Fund Cooperatief UA (the "Fund"). 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.

Project Objectives

The Fund will make equity and equity related investments in technology based early and growthstage MSMEs primarily in Hungary, but also across central and eastern Europe, with the objective of achieving long-term capital appreciation.

Transition Impact

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 innovative MSMEs.

Client Information

EUROVENTURES TECHNOLOGY AND GROWTH FUND

The Fund will be managed by Euroventures, one of the longest-established private equity and venture capital firms in Hungary.

EBRD Finance Summary

EUR 10,000,000.00

EBRD is considering an equity investment of up to EUR 10 million.

Total Project Cost

EUR 50,000,000.00

The Fund is targeting total commitments of EUR 50 million.

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 Environmental and Social Procedures for Active Equity Funds and submit Annual Environmental and Social Reports to the Bank.

Technical Cooperation

None.

Company Contact Information

Péter Tánczos
office@euroventures.hu
+36 1 309 7900
www.euroventures.hu
H-1124 Budapest, Mártonhegyi út 61/A

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