Romanian Foundations Fund I

Location:

Romania

Project number:

44498

Business sector:

Equity funds

Notice type:

Private

Environmental category:

FI

Approval date:

17 Dec 2013

Status:

Signed

PSD disclosed:

29 Apr 2013

Translated version of this PSD: Romanian

Project Description

The EBRD is considering an equity investment of up to €15 million in the fund The Foundations 1.0 SEE SCA (the “Fund”), a corporate partnership limited by shares to be established in Luxembourg.

The Fund is a first-generation investment fund with the objective of making multi-sector growth capital equity investments predominantly into small and medium sized enterprises in the services sector in Romania but potentially also in selected neighbouring countries in South Eastern Europe (Moldova, Bulgaria and Serbia).

Transition Impact

EBRD’s potential investment will support a new entrant to the private equity market in Romania and thus the expansion of the private equity market in South Eastern Europe.

The Fund will provide long term equity capital to SMEs, a particularly underserved segment in the wake of the financial crisis.

It is also expected to contribute to the promotion of best practice in corporate governance within investee companies.

The Client

The Foundations 1.0 SEE SCA, a corporate partnership limited by shares to be established in Luxembourg.

The Fund will be managed by The Foundations S.a r.l., a limited liability company incorporated in Luxembourg.

EBRD Finance

The Bank is proposing to make an equity investment of up to €15 million.

Project Cost

The Fund is targeting €50 million at final closing.

Environmental Impact

The project has been assigned a screening category of FI, as the EBRD financing is via a financial intermediary.

The Fund will be required to comply with the EBRD's Performance Requirement 2 (Labour and Working Conditions) and Performance Requirement 9 (Financial Intermediaries).

The Fund will be required to adhere to the EBRD's Environmental and Social Exclusion and Referral lists, and submit annual environmental and social reports to the EBRD.

Technical Cooperation

None.

Company Contact

Sorin Panturu, Managing Partner
E-mail: sorin.panturu@mackenzie.ro

 

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.