Innova/6

Location:

Regional

Project number:

49349

Business sector:

Equity funds

Notice type:

Private

Environmental category:

FI

Approval date:

27 Feb 2018

Status:

Board Approved

PSD disclosed:

19 Dec 2017

Project Description

An equity investment of up to EUR 40 million in Innova/6 (the "Fund").

Project Objectives

The Fund will seek to generate long-term capital gains from equity and quasi-equity buyout investments in a diversified portfolio of mid-cap companies in Poland and Central and South Eastern Europe ("CSE") with a primary focus on Poland.

Transition Impact

The Bank's participation in the Fund will contribute to the development of alternative funding sources for companies in CSE which can help promote private and entrepreneurial initiatives. Additionally, the Fund is expected to increase the overall competitiveness of portfolio companies and develop
alternative funding sources for the corporate sector in the region.

Client Information

INNOVA CAPITAL

The Fund will be managed by Innova/6 GP S.a.r.l. and advised by Innova Capital Sp. z o. o. Sp. K (Poland).

EBRD Finance Summary

EUR 40,000,000.00

An equity commitment of up to EUR 40 million.

Total Project Cost

EUR 300,000,000.00

The target size of the Fund is EUR 300 million.

Environmental and Social Summary

Categorised FI: (ESP 2014). The Fund Manager is well known to the Bank and has been satisfactorily applying the EBRD's E&S requirements under existing exposures. Innova Capital has a Responsible Investment Policy which considers ESG factors for each individual portfolio company has an Environment Policy and Environmental and Social Management System (ESMS). Innova Capital will be required to continue 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

Katarzyna Kaczmarek
ir@innovacap.com
+48 22 544 94 00
+48 22 544 94 03
www.innovacap.com
Innova Capital Limited, Rondo ONZ 1, 35th Floor, 00-124, Warsaw, Poland

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

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.

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