According to bank provided information, the investment is an equity investment of up to USD 10 million in favour of the venture capital fund Badia Impact Squared (the "fund") targeting early stage technology companies in the SEMED region. The project will form part of the Bank's Early-Stage Innovation Facility, a EUR 100 million facility through which the EBRD selectively invests in commercially-oriented early-stage venture capital funds.
The fund will make equity, quasi-equity and equity related investments predominantly in early-stage technology companies in Jordan, Egypt, Tunisia, Morocco and Lebanon, with a principal focus on Jordan and Egypt. The fund will have a core early-stage investment focus predominantly targeting investment tickets at Series A.
The fund is managed by Badia Impact Squared Capital Partners GP B.V. (the "fund manager")
123 Zahran Street 4th Circle Amman 11183, Jordan
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 firstname.lastname@example.org 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.