TLDR:
– EBRD invests €10 million in GapMinder Fund II to support early-stage technology-driven companies in Romania and other EBRD economies.
– The investment aims to develop the venture capital ecosystem and accelerate digital transition in the region.
Article Summary:
The European Bank for Reconstruction and Development (EBRD) has made a €10 million investment in GapMinder Fund II, managed by Romanian venture capital firm GapMinder. This investment is intended to support early-stage technology-driven companies in countries like Romania, Bulgaria, Croatia, Moldova, Serbia, and Slovenia. The goal is to address the lack of long-term risk financing and underdeveloped venture capital ecosystems in these economies.
By partnering with GapMinder, the EBRD aims to contribute to the growth of high-potential technology companies in the region and facilitate their digital transition. GapMinder Fund II will make equity and quasi-equity investments in these companies to help them thrive and introduce innovative technologies and business models to the market.
Dan Mihaescu, Founding Partner of GapMinder, expressed excitement about continuing to develop the start-up ecosystem in Romania and Southeastern European countries. The commitment and trust of long-term investors, including the EBRD, have been instrumental in raising the successor fund during a challenging period in 2023.
Overall, the EBRD’s investment in GapMinder Fund II reflects its dedication to supporting the growth of venture capital markets and accelerating digital transformation in the economies where it operates, particularly in Romania. The Bank has a strong track record of investing in projects in Romania, totaling over €10.9 billion across various sectors.
