Instruments for equity and quasi-equity investments are envisaged in Operational Programme Innovations and Competitiveness 2014-2020 (OPIC), with a total budget of BGN 293.4 million.
The investment strategy of OPIC 2014-2020 envisages four instruments in that regard, allocated to the riskier stages in the typical investment process:
- Technology Transfer Fund;
- Seed/Acceleration and Start-up Fund;
- Venture Capital Fund;
- Mezzanine /Growth Fund.
The purpose is to facilitate access to financing for the target groups of final recipients, in accordance with the goals of OPIC 2014-2020, which include improving the prospects of survival of start-ups and SMEs, support for entrepreneurship and sustainable and knowledge-based business models, commercialisation and internationalisation of R&D, promotion of innovation.
It is envisaged to establish one or more funds within each instrument as a closed-ended investment vehicle/s, with the FMFIB having the standard functions of a limited partner.
The investment funds are expected to raise additional private financing at a minimum amount defined for each instrument in the respective applicable regulations and in the investment strategy of OPIC 2014-2020.