April 1 (SeeNews) - Romanian entrepreneurial group Impetum is launching a 25 million euro ($27.6 million) investment fund focused on developing local small and medium sized enterprises (SMEs) through capital market instruments, the Bucharest Stock Exchange, BVB, said.
Through the Agista investment fund, Impetum Group plans to invest in 20 SMEs in the following two years, out of 150 to be analysed, the bourse said in a press release on Thursday.
The fund will be focused on the BVB's AeRO market, helping SMEs to get listed, financing and accelerating their increase through the capital market. Its core business will consist of pre-IPO investments, as well as listed shares of companies showing potential. Agista capitalisation of 25 million euro equals nearly half of the entire capital raised by the AeRO market companies in 2021, according to the press release.
"Agista will act as an anchor investor, with an aim to hold minority packages in companies with a turnover of 3-15 million euro. The investment ticket will be 500,000 - 2.5 million euro, and Agista will act from a strategic place, at board level, in terms of company development," Agista CEO Nicolae Kovacs said.
Agista was registered as an alternative investment fund manager in March, and is currently undergoing authorization by Romania's financial regulator ASF.
The Agista fund is a brand of Impetum Group, which also includes insolvency administrator CITR, investment platform ROCA Investments and startups venture capital fund ROCA X.
($=0.9051 euro)