Integral holds first close for debut fund

The fund was launched in November 2019 and is targeting a final close in 2020. It has a hard-cap set at €150m.

The GP did not use a placement agent. The vehicle will follow standard market terms and conditions, with a five-year investment period and a 10-year lifecycle.

Investors
The fund currently has 9 LPs and anticipates adding a further 10 - 15 by the final close. The LP base consists of institutional investors such as the European Investment Fund and the European Bank for Reconstruction and Development, as well as regional and international entrepreneurs.

The fund will target a standard rate of return for investors.

Investments
EEPI I will deploy equity tickets of up to €25m in technology, media, telecommunications, healthcare, consumer goods and services, B2B services, and niche manufacturing companies. It aims to invest in 10-15 companies, depending on the total capital raised after a second close. The vehicle will focus on investing in central and south-eastern Europe.

Integral is founded by Stefan Tzvetkov, who leads the firm alongside partners Barna Papay, Marko Hinic and Evtim Chesnovski. It is independently owned by its partners and operates out of hubs in London, Budapest and Belgrade.

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