Cogito Fund II (EBRD-55167)

Countries
  • Bulgaria
  • Croatia
  • Czech Republic
  • Estonia
  • Hungary
  • Latvia
  • Lithuania
  • Poland
  • Romania
  • Slovakia
  • Slovenia
Geographic location 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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Apr 26, 2024
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
COGITO FUND II SCA SICAR-RAIF
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 16.04 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 15
Converted using 2024-04-26 exchange rate.
Project Cost (USD)
$ 133.68 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 125
Converted using 2024-04-26 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jul 19, 2024

Disclosed by Bank May 10, 2024

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the project consists of An equity investment of up to EUR 15 million in Cogito Fund II SCA SICAR-RAIF (the "Fund").

The Fund will make equity and quasi-equity investments in innovative technology companies in Poland, Bulgaria, Croatia, Czech Republic, Estonia, Latvia, Lithuania, Hungary, Romania, Slovenia and Slovak Republic (collectively the "Target Region").

The Fund may invest up to 20% of its capital in companies with primary operations in Western Europe and the United States of America which are expected to strategically expand or establish operations in the Target Region. In accordance with the ESIF II eligibility criteria, the Bank will participate in such investments.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

Categorised FI (ESP 2019). 

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

An equity investment of up to EUR 15 million.

The Fund's target size is EUR 125 million.

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Cogito Fund II SCA SICAR-RAIF (the "Fund"), a corporate partnership limited by shares to be established in Luxembourg. Cogito II General Partner S.A.R.L, a limited liability company to be incorporated in Luxembourg, will act as the general partner of the Fund (the "General Partner"). The General Partner will be advised by Cogito Capital Partners Sp. z o.o. sp. K (the "Investment Adviser"), a limited liability company incorporated in Poland. The General Partner and Investment Adviser will be collectively referred to as the "Fund Manager".

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Cogito Capital Partners Sp. z o.o. sp. K Undisclosed -
- - - - Cogito II General Partner S.A.R.L Undisclosed -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

COMPANY CONTACT INFORMATION

Martin Jasinski
martin.jasinski@cogitocap.com
https://cogitocap.com/

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

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 at: 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

How it works

How it works