Innovation Nest Fund II (EBRD-50014)

Regions
  • Europe and Central Asia
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
Innovation Nest Fund II SCSp
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 8.96 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 8 million
Converted using 2019-04-01 exchange rate.
Loan Amount (USD)
$ 8.96 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 56.03 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported EUR 50 million
Converted using 2019-04-01 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Apr 14, 2019

Disclosed by Bank Apr 1, 2019


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Project Description

According to EBRD website, the fund aims to make equity, quasi-equity, and equity related investments predominantly in early-stage cloud based B2B software companies in Central and South-Eastern Europe, with the objective of achieving long-term capital appreciation. It will contribute towards the overall transition goals of the Early-Stage Innovation Facility, specifically seeking to enhance the resilience of financial markets by expanding the local venture capital asset class and increasing the competitiveness of innovation MSMEs.

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Private Actors
  • INNOVATION NEST II SCSP -- Financial Intermediary
Contact Information

Chris Kobylecki, COO
Email Address: chris@innovationnest.com 
+48 502 403 637
https://www.innovationnest.co/
Ludwinowska 7/8, Krakow

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.