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ZAGREB (Croatia), September 10 (SeeNews) - The European Bank for Reconstruction and Development is considering an equity investment of up to 30 million euro ($33 million) in Earlybird Digital East Fund II focused on Central and Southestern Europe, Turkey and Jordan, the bank said.
The total value of the project is 150 million euro, the EBRD said in a statement on Monday, adding the decision on its participation is pending a board approval on October 15.
Earlybird Digital East Fund II is designed to make equity and equity-related investments in technology-based early and growth stage micro, small and medium-sized companies in Central and Southeastern Europe, Turkey and Jordan, the bank said.
The objective of the fund is to help those companies achieve long-term capital appreciation.
The fund is managed by Berlin-based venture capital firm Earlybird founded in 1997.