PROJECT

Projects

Summary of Investment Information

Project Number

45240

Company Name

ELEVEN VENTURES

Date SPI Disclosed

Sep 22, 2021

Country

Eastern Europe Subregion

Region

Europe

Projected Board Date

Sep 1, 2021

Environmental Category

FI-3 - No Impact

Status

Pending Signing

Last Updated Date

Sep 30, 2022

Department

Equity Portfolio Management

Industry

Funds

Previous Events

Approved : Apr 4, 2017

Sector

Venture Capital Fund

Project Description

 IFC is considering an equity investment of up to EUR 3 million in Eleven Fund III (“Eleven” or the “Fund”) a Bulgaria based seed fund that is focused on opportunities across South-eastern Europe (SEE) with a primary focus on Bulgaria, Romania, Serbia, and Croatia. The Fund Manager is currently raising a EUR 55 million target Fund III with a target first close of 25 million.  The fund will be managed by  Daniel Tomov, Ivalylo Simov, Martin Ouzounov, Vassil Terziev and Valeri Petrov who possess strong operational and entrepreneurial experience 

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation