Five applications have been received by the Fund of Funds for the management of €32.17 million euros to support the start-up ecosystem through the Enterprise Innovation Fund, funded by the Program “Competitiveness and Innovation in Enterprises” (CIE) 2021-2027, co-financed by the European Union through the European Regional Development Fund (ERDF).

This is the second procedure for the selection of a fund manager with a CIE 2021-2027 funding, and the selected candidate will have the task of securing additional co-financing from private investors. 

Candidates who submitted applications within the deadline are:

1. Morningside Hill II Union;
2. Planet 9 Ventures Union;
3. Invention Capital II Union;
4. Vitosha Venture Partners Fund II Union;
5. Compound Capital Union.

The main objective of the financial instrument is to encourage the creation and use of innovation by enterprises.

The investment period is until 31.12.2029 and the term of the fund will be 10 years, with the possibility of extension up to 1+1 years.

After the opening of the applications, the candidates will be checked for compliance with the set selection criteria. Those admitted to the next stage in the selection process will be invited to submit initial offers. 

In the selection of a fund manager, the experience of the proposed team with equity investments will be evaluated with primary weight.

More information is available on the Company's profile on the CAIS website at the following link: https://app.eop.bg/today/414657