Badia Impact Squared (EBRD-51388)

Countries
  • Egypt
  • Jordan
  • Morocco
  • Tunisia
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
Approved
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.
Voting Date
Mar 31, 2020
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Badia Impact Squared
The holder of the loan, grant, or other investment.
Sectors
  • Industry and Trade
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)
$ 10.00 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)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ EBRD website

Updated in EWS May 7, 2020

Disclosed by Bank Apr 29, 2020


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Project Description

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.

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Private Actors

The fund is managed by Badia Impact Squared Capital Partners GP B.V. (the "fund manager")

Contact Information

Emile Cubeisy
emile@siliconbadia.com
+96265939094
www.siliconbadia.com 
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 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.