Translated version of this PSD: Hungarian
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.
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.
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.
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
EBRD is considering an equity investment of up to EUR 10 million.
Total Project Cost
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.
Company Contact Information
+36 1 309 7900
H-1124 Budapest, Mártonhegyi út 61/A
For business opportunities or procurement, contact the client company.
EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
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
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).
IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.
Please visit the Independent Project Accountability Mechanism webpage to find out how to submit a Request for review through our confidential online form, by email, mail or telephone. IPAM is available to discuss your concerns and answer any questions you may have about the submission or handling of Requests, which follow the Project Accountability Policy and Guidance. Requestors’ identities may be kept confidential, upon request.