📋 Tender Overview
Project ID: 56510
Status: Passed Final Review, Pending Approval
Location: Regional
Business Sector: Equity Funds
Notice Type: Private
Environmental Category: FI
Approval Date: 24 Oct 2025
Disclosure date: 24 Oct 2025
Project Description
An equity investment of up to €15 million in the Fund, which is seeking to raise €100 million in total capital. The Fund will make pre-seed and seed-stage equity and quasi-equity investments in early-stage technology companies in Türkiye as well as selected countries in Central and Eastern Europe ("CEE"), expected to be Poland, Hungary, Croatia, Slovenia, Estonia, Lithuania, Latvia, Bulgaria, Romania, Serbia, Moldova, Ukraine, Slovakia, Czechia, Albania, Montenegro, Bosnia & Herzegovina and Greece (collectively, the "Target Region").
Transition Impact
ETI score: 69
Resilient: through developing the venture capital market in the Target Region. Competitive: through supporting innovative early-stage companies.
Client Information
E2VC FUND III CV
E2VC Fund III C.V. (the "Fund"), a limited partnership to be established under the laws of the Netherlands.
EBRD Finance Summary
EUR 15,000,000.00
Total Project Cost
EUR 100,000,000.00
Additionality
The Bank's commitment will enable the Fund to achieve its target closing size, allowing the Fund Manager to build a diversified portfolio and provide capital to support the expansion of the Fund's early-stage technology portfolio companies. The project will also be Gender Additional.
Environmental and Social Summary
Categorised FI (ESP 2024). Environmental and Social (E&S) Due Diligence, conducted via questionnaire, reviews of the indicative pipeline and publicly available information, demonstrated that the Fund Manager complies with EBRD's Environmental and Social Requirements (ESRs) 2, 4 and 9. Appropriate information of the Environmental and Social management system has been disclosed. The Fund Manager will be required to apply the EBRD E&S exclusion list and to implement environmental and social risk management procedures commensurate to the level of risks of the contemplated portfolio. The Fund will not invest in Category A projects. The Fund Manager will provide annual E&S reporting to the EBRD on compliance with applicable ESRs and any other E&S matters arising during the year.
The project is determined aligned with mitigation and adaptation goals of the Paris Agreement based on the application of the EBRD's Paris alignment approach for Equity Funds. The project is determined aligned as the client does not have activities that are high-emitting or climate vulnerable.
