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The European Investment Fund (EIF) and the Croatian bank for reconstruction and renewal (HBOR) will invest over EUR70m in three risky capital funds in Croatia – Prosperus, the Growth Fund, the Adriatic Structured Equity Fund and Croatian Mezzazine Debt Fund, which will start in the fall.
According to a joint statement by HBOR and EIF on Sept.1, these funds will facilitate access to capital and create alternative sources of financing and flexible transactional structures for SMEs and MidCaps, SeeBiz has reported.
At the same time, Croatian businesses can contact the funds as of the fall and they will independently decide on individual investments, while the average investment is expected to range from EUR2m to EUR8m.
The origin of the joint investments is the EUR80m Croatian program for growth and investment (CROGIP), which was launched in 2019 jointly by the EIF and HBOR, to provide Croatian SMEs and MidCaps with a new source of financing.
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