Polish Enterprise Fund VII (F.Enterprise Fund 2012)

Location:

Regional

Project number:

43138

Business sector:

Equity funds

Notice type:

Private

Environmental category:

FI

Target board date:

09 May 2012

Status:

Signed

PSD disclosed:

23 Mar 2012

Project Description

The EBRD is considering a scalable equity investment of up to €80 million in Polish Enterprise Fund VII (the “Fund”), a private equity investment fund targeting €650 million in commitments.

The Fund will seek to achieve long term capital appreciation by making equity and equity-related investments in medium-sized companies which require capital to take advantage of growth opportunities and a hands-on partner to help them execute their business plans. The Fund will invest in companies established throughout Central and South Eastern Europe (“CSE”).

Transition Impact

By investing in the Fund, the EBRD will support a leading, locally based private equity group with a strong track record in the region. The transition impact will come from the following areas:

(i) supporting the growth and development of mid-market enterprises in CSE, to a stage where they can access strategic FDI or public markets capital through providing the equity investment combined with the Fund Manager’s know-how and expertise;

(ii) supporting the nascent asset class in CSE during a period of investor uncertainty over the Eurozone and over the impact of ongoing regulatory changes, and strengthening the number of fund managers actively investing in CSE during a challenging fund raising environment; and

(iii) demonstrating sound corporate governance standards and business conduct in the investee companies through influence on strategic decisions and best operational practices.

The Client

The Fund will be registered as a Cayman Islands limited partnership and will be managed by Enterprise Investors Corporation (“EIC”), based in Delaware.

Founded in 1990, EIC is an established private equity fund manager in CSE. It has led a number of prominent investments over the course including the first company listed on the WSE by a PE firm. It has contributed to setting industry standards by founding and leading numerous initiatives of the Polish Venture Capital Association, supporting the development of an equity culture in CSE.

EBRD Finance

Equity investment of up to €80 million to the Fund.

Project Cost

The Fund is targeting maximum commitments of €650 million.

Environmental Impact

Categorised FI.

The Fund shall comply with the EBRD Performance Requirements 2 (Labour and Working Conditions) and 9 (Financial Intermediaries), and implement the EBRD’s Environmental and Social Procedures for Active Equity Investments. The Fund shall ensure investee companies comply with national environmental, occupational health and safety standards, social and labour standards.

The Fund will be required submit annual environmental and social reports to the Bank

Technical Cooperation

None.

Company Contact

Jacek Siwicki
President, Enterprise Investors
Warsaw Financial Center
ul. Emilii Plater 53
00-113 Warsaw, Poland

Tel.: +48 22 458 85 00
Fax: +48 22 458 85 55
E-mail: jacek.siwicki@ei.com.pl

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)

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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.