Bulgaria’s Invenio Partners in advanced talks for deals in Romania, Serbia

Preferred sectors for the new Invenio Partners Fund II are the manufacturing and industry, healthcare, fast-moving consumer goods and education. The target companies in Romania and Serbia operate within these sectors, Dyankov said in an email, adding further details cannot be disclosed at this stage.

The new fund, which is backed by the European Investment Fund (EIF), was created to invest in small and medium enterprises (SMEs) in Bulgaria, Romania and Serbia, Invenio said in November. The fund will target equity and quasi-equity investments in the range between 3 million euro and 10 million euro.

Also in November, the company rebranded from Empower Capital. The move reflects the firm’s expansion outside Bulgaria.

“We are expanding our efforts to support the fastest growing SMEs in Romania and Serbia, while Bulgaria remains our core market,” CEO Elvin Guri commented in the statement in November.

Invenio completed two investments in Bulgaria in 2022. The first supports alloy bicycle frames manufacturer Cycle Gets. In addition, Invenio injected 3 million euro in SAT Health, a firm which provides technology solutions to support the healthcare sector.

Invenio was founded as Empower Capital in 2014 to manage Empower Capital Fund I – a 21 million euro co-investment fund financed by the EIF. The fund invested in and exited several successful transactions, including companies like City Clinic, Cremio and Fidelis Research.

($ = 0.9508 euro)