Public funds for BGN 75.3 million to be invested in potentially growing small and middle enterprises at a mature phase of development
Fund of funds has selected the intermediary for the first Mezzanine fund, directed extremely towards Bulgaria
The Fund of funds has selected a fund manager for the Mezzanine/ Growth fund with public investments supplied through the EU Operational programme “Innovations and competitiveness” 2014 – 2020, co-financed by the European Regional Development Fund.
The Mezz financing is an alternative of the traditional ways of attracting finances from the economic enterprises in the country, e.g. bank loans, capital financing and own profit.
Based on the evaluation of the participants’ proposals, as intermediary has been approved Bulgarian Mezzanine Partners DZZD. Partners in the team are Ivan Hristanov, Evgeni Angelov, Diana Aladzhova and Lloyd Schultz. Other than the above-mentioned members of the association are River Styxx Capital JSC (with single shareholder Elvin Guri) and Eleonora Sarbova. The team consists of professionals with a long-term experience in fund management for equity investments both in Bulgaria and abroad. The partners have acquired their professional experience in leading organisations in the field of investment management.
Bulgarian Mezzanine Partners will manage BGN 75.3 million public resources and is expected to additionally attract private funds of at least BGN 28.5 million.
The fund’s investments will lead to the increase of productivity and the export potential of the Bulgarian business. The instrument will support the development of SME competitiveness at a mature stage of business development. It will also provide access to alternative financing for companies with plans to expand and improve operations, including entry into new markets.
The amount of investments in each enterprise will range from BGN 4.9 million to BGN 13.7 million.
The investment period of the instrument will continue until the end of 2023.