14.10.2020

BGN 42 million additionally from the Fund of Funds for the companies affected by the Covid crisis

BGN 42 million additional anti-crisis resource from the Fund of Funds is already on the market. The funds are intended for liquid support of small and medium-sized enterprises affected by the COVID crisis. They will reach them through three private equity funds on easy terms, without the need to raise private capital outside the participation of the fund manager. The Acceleration and Initial Financing Funds Innovation Capital Fund and Vitosha Venture Partners - Fund I received an additional BGN 10.4 million and BGN 13.6 million, respectively. The available capital of each of them increased to BGN 41 million, respectively BGN 50.7 million. The two funds invest up to BGN 100,000 in companies in the acceleration phase and up to BGN 2 million in companies in the initial stage of development. The Morningside Hill Venture Capital Fund added an additional BGN 18 million to its investment resource and now has a total of BGN 75.3 million. It invests up to BGN 7 million in start-ups at an early stage of development, as well as in advanced companies with high risk profile. An agreement is to be signed with the fourth financial intermediary - New Vision 3, for the fund of which an additional BGN 14.3 million is provided.