NEVEQ - New Europe Venture Equity Fund

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The proposed project is a private equity fund with a target size of EUR 40 million that will invest in small and medium-sized enterprises primarily located in Bulgaria and Romania. The fund will target leading technology companies having proprietary technologies and focusing on software and IT services industry. The fund will make investments in cash generating middle market companies with strong management. Transition impact will be the result of sound investments in growing privately owned companies in the targeted countries. The fund manager is expected to adopt a hands-on approach by taking board positions in portfolio companies and transferring technical expertise and know-how. Through the significant involvement of its local team, the fund is expected to contribute towards the transfer of investment skills to local managers. The competitiveness of the portfolio companies will increase, thus developing the local markets and attracting strategic investors. NEVEQ is a venture capital fund of a closed type, established and registered in the Cayman Islands. NEVEQ Capital Partners Limited, a British Virgin islands Business Company, is the General Partner and will manage the Fund. The EBRD commits to invest an amount equivalent to 20% of the total aggregate capital commitments to the fund up to EUR 10 million. Expected target size of the fund is EUR 40 million. NEVEQ will adopt and implement environmental due diligence procedures based on the EBRD’s Environmental Procedures for Private Equity Funds. NEVEQ must adhere to the requirements of the Bank's Environmental Exclusion and Referral List and ensure that investee companies comply, at a minimum, with national standards for environment, health and safety and labour and where NEVEQ is investing in a start-up company, relevant EU environmental standards. NEVEQ will provide the Bank with annual environmental reports. None. Mr Ivo Evgeniev or Mr Konstantin Petrov NEVEQ Capital Partners Limited 23, Kustendil Str. Sofia, Bulgaria Phone: +359 2 850 4000 Mobile: +359 898 600 617 or +359 888 922 360