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Jan 04, 2023 10:28 EEST
January 4 (SeeNews) - Bulgaria's MFG Invest said that it invested 100,000 euro ($106,660) in its portfolio firm Eleven Fund III Cooperatief U.A. last week.
MFG has put 400,000 euro into the equity fund to date, with plans to invest a total of 1 million euro over three years, the company said in a bourse filing on Tuesday.
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Last month, MFG raised some 2 million euro in an initial public offering and plans to use the proceeds to fund new companies and increase investments in its portfolio companies. Shares in MFG will start trading on the BEAM market of the Bulgarian Stock Exchange on January 6.
Eleven Fund III is an early-stage equity fund, managed by Eleven Ventures, which targets Southeast European technology companies.
($ = 0.9483 euro)
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