Avia Capital increases fundraising target

The fund was launched in 2016 with a €50m target and held a first close in September 2016 on €25m.

It now expects to collect between €75-100m and anticipates holding a final close by the start of September.

The European Bank for Reconstruction and Development confirmed a commitment of €15m to the fund in April this year. The European Investment Fund approved an investment in June 2017.

The fund will invest between €5-10m in small and medium-sized businesses operating in the B2B sector in Poland that are planning expansion into foreign markets. It will specifically focus on co-operation with Polish family-owned businesses with enterprise values of up to €40m that are planning acquisitions or seek additional capital for development.

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