Europe Virgin Fund

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The EBRD is considering investing up to USD30 million but not exceeding 25% of total aggregate commitments in Europe Virgin Fund (the “Fund”), a regional private equity fund sponsored by Dragon Capital. The Fund will provide private equity financing to a wide range of private sector businesses with primary operations in Ukraine, Moldova and Belarus. Its sector focus will include FMCG, retail, industrials, telecom, media, technology and pharmaceuticals. The transition impact of the proposed project would come from the following three areas: Europe Virgin Fund is sponsored by Dragon Capital (“the Sponsor”), the leading independent investment bank in Ukraine. The Sponsor will contribute at least USD20 million to the Fund as one of the Limited Partners. The Fund will be managed by Dragon Global Advisors Ltd an investment management company 100% owned by Dragon Capital. The Bank proposes to commit 25% of the total commitments of the Fund, up to an amount of USD30 million subject to certain conditions. The target size of the Fund is in excess of USD100 million for final closing. The project has been assigned a screening category of FI, as the EBRD financing is via a financial intermediary. The Fund shall comply with the EBRD's Performance Requirement 2 (Labour and Working Conditions) and Performance Requirement 9 (Financial Intermediaries). Investee companies, their activities and operations will be required to comply with national and EU environmental, health, safety and labour regulations and standards. The Fund will provide to EBRD annual reports on environmental & social matters and on the implementation of PRs 2 and 9. None. Alex Munteanu Co-Managing Partner Dragon Global Advisors 36D Saksahanskoho Kyiv 01033 Ukraine Tel. +380 44 490 71 20 E-mail: munteanu@dragon-capital.com Kamil Goca Co-Managing Partner Dragon Global Advisors 36D Saksahanskoho Kyiv 01033, Ukraine Tel. +380 44 490 71 20 E-mail: goca@dragon-capital.com