EIF seeks manager for Croatian fund-of-funds

Sofia Karadima
09 July 2018

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The European Investment Fund (EIF) has issued an expression of interest seeking a fund manager for the newly created ESIF Venture Capital Fund.

EIF along with the Ministry of Regional Development and EU Funds of Croatia (MRDEUF) have presented a signed agreement to establish a Croatian financial instrument.

The tender will be open until 13 August 2018, after which EIF will choose a fund manager, said Gabrijela Žalac, minister of regional development and EU Funds.

ESIF Venture Capital Fund will invest in risk capital vehicles targeting local small and medium-sized enterprises with high growth potential.

The selected fund managers will be expected to attract private capital to be co-invested alongside with the EU funds. Managers should also boost the availability of financing to promising high-growth ventures, along with business mentoring and development services for the investee companies.

EIF is part of the European Investment Bank group. MRDEUF is the managing authority of the Operational Programme Competitiveness and Cohesion 2014-2020.

ESIF Venture Capital Fund is the first Croatian fund-of-funds, managed by EIF, for equity investments benefiting from the European Structural and Investment Funds (ESIF).