VCIP II Second Envelope (EBRD-51558)

Regions
  • Europe and Central Asia
  • Middle East and North Africa
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
U
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
Nov 27, 2019
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
Venture Capital Investment Programme II
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)
$ 55.40 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 50,000,000.00
Converted using 2019-10-25 exchange rate.
Project Cost (USD)
$ 55.40 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 50,000,000.00
Converted using 2019-10-25 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Nov 8, 2019

Disclosed by Bank Oct 25, 2019


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Project Description

According to bank documents, EBRD, through its Venture Capital Investment Programme II (VCIP II, which is a continuation of EBRD's existing programme, VCIP, and is a dedicated framework facility of EUR100 million), invests in early and growth stage technology companies via equity and equity-linked instruments (investment size up to EUR15 million) in the Bank's countries of operation alongside experienced venture capital co-investors. Investments target innovative and high growth small and medium sized companies largely under-serviced by the limited venture capital community to help fill the venture capital equity "gap" in the market. In order to continue to maintain the investment rate and meet the demand in the ongoing pipeline conversion, additional funds are sought to be allocated over the remainder of the VCIP II investment period.

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Contact Information

Bakhrom Ibragimov
02073386000

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.