Romanian Foundations Fund I

signed

Translated version of this PSD: Romanian 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). 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 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. The Bank is proposing to make an equity investment of up to €15 million. The Fund is targeting €50 million at final closing. 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. None. Sorin Panturu, Managing Partner E-mail: sorin.panturu@mackenzie.ro