The Fund of Funds Joins the Vienna Economic Forum
Investment Promotion Activity in the Framework of Cooperation with the VEF Kicks Off
In a further development of the cooperation between the Fund of Funds (FoF) and the Vienna Economic Forum (VEF), the VEF Board of Directors has formally approved the FoF's application for membership of the prestigious regional platform. The meeting was held in Vienna on 13 February 2023 and, in addition to welcoming new members, an overview of planned initiatives and priorities for the current year was presented.
The foundations of the partnership between the two institutions were laid when they signed a Memorandum in the autumn of 2022. Acquiring membership status in the Vienna Economic Forum is yet another step in the synergy between the FoF and the VEF in their dedicated support for the development of the region from the Adriatic to the Black Sea. In addition, theVEF membership provides unlimited access to the entire VEF partner network, including prominent representatives of business, politics and diplomatic circles, an invitation to the organisation's General Assembly and other strategic events, active positioning and brand presence packages at high-profile events in Austria and other countries through corporate information materials, own booth, etc.
During the meeting in Vienna, the FoF and the VEF mapped out a plan to implement the main goals and objectives set out in the Memorandum, which corespond fully to the missions of both organisations: for the FoF, to promote and foster the growth of small and medium-sized enterprises in Bulgaria, and for the VEF, to promote inter-institutional regional cooperation and public-private partnerships. The FoF and the Vienna Economic Forum committed to setting up a schedule for follow-up meetings with representatives of private equity and venture capital associations in Austria and in the SEE Forum member countries. Through those private equity associations and through institutions in the region that allocate public funds, access to new investment opportunities abroad for the FoF final recipients will be facilitated. On the other hand, VEF members will be able to identify attractive prospective investees among Bulgarian companies. Some of the Forum partners expressed their willingness to consider engaging in cooperation with FoF intermediaries with a view of adopting Bulgarian innovations and fintech business solutions.
As a platform for the exchange of experiences at regional level, the Vienna Economic Forum will facilitate communication between the Fund of Funds and similar or peer structures in other countries with a view to sharing best practices.