Bulgaria's ImPulse I very near to closing new investment deal - founder

The transaction is international and will be announced by December 5 at the latest, Manev said during an online meeting with investors last week.

Additionally, ImPulse I is at a very advanced stage of striking two more deals, with closing possible by the end of 2022, Manev added.

Looking ahead, ImPulse I plans to raise its capital in 2023, expecting to conduct the increase after the beginning of March. In parallel, the company will set up a new investment instrument, ImVenture III. It will be similar to its existing fund ImVenture II and will be focused on export-oriented, innovative growing Bulgarian companies. ImPulse I expects to launch the new fund at the beginning of March.

Most recently, ImPulse I’s fund ImVenture II invested 100,000 euro ($103,750) in Bulgarian cosmetics company Noesis as part of a 235,000 euro funding round.

The company also participated in the capital increase of Bulgarian ReBeneFit, injecting 307,000 euro in the cloud-based employee benefits management platform.

($ = 0.9638 euro)