May 10 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said on Friday it is considering a 15 million euro ($16.2 million) equity investment in Cogito Fund II SCA SICAR-RAIF, a corporate partnership to be established in Luxembourg for investments in central and eastern Europe, including Bulgaria, Croatia, Romania, and Slovenia.
The fund will make equity and quasi-equity investments in innovative technology companies in these countries, as well as in Poland, Czech Republic, Estonia, Latvia, Lithuania, Hungary, and Slovak Republic, EBRD said in a statement.
The new fund will be managed jointly by Cogito II General Partner S.A.R.L, a limited liability company to be incorporated in Luxembourg and Polish Cogito Capital Partners.
The bank's commitment will enable the fund to achieve a final close at or above 125 million euro, allowing the fund manager to build a diversified portfolio and support the expansion of the fund's portfolio companies, it added.
The fund may invest up to 20% of its capital in companies with primary operations in Western Europe and the US which are expected to strategically expand or establish operations in the target region.
($ = 0.927 euro)