Summary of Proposed Investment
Project Number
7622
Company Name
Horizonte Bosnia and Herzegovina Enterprise Fund
Date SPI Disclosed
Aug 19, 1996
Country
Bosnia and Herzegovina
Industry
other
Status
Completed
Sector
Private Equity/Venture Cap Fund - Country
Department
Equity Portfolio Management
Environmental Category
FI
Previous Events
Approved : Sep 19, 1996
Signed : Dec 12, 1997
Invested : Aug 6, 1998
Project Description
Summary Of Project Information (SPI)
| Project Name | Bosnia and Herzegovina-Horizonte Bosnia and Herzegovina Enterprise Fund | |
| Region | Europe |
| Sector |
Projected Board DateSeptember 17, 1996
Company NameHorizonte Bosnia and Herzegovina Enterprise Fund
Technical Partner and/or Major Shareholders
The Fund will be managed by Horizonte Venture Management, Vienna, Austria. Besides IFC, investors in the Fund include B-H Banka, a private BH bank, the Austrian Kärtner Landes- und Hypothekenbank, EBRD and USAID. Austrian, Turkish and Middle-Eastern investors are also being approached as potential investors in the Fund.
Project Cost Including proposed IFC investment
Project Cost: US$17 - 20 million.
IFC Investment: US$2 million equity.
Location of Project and Description of site
Sarajevo, Bosnia and Herzegovina
Description of Company and Purpose of Project
IFC will invest in a venture capital fund which will provide badly needed equity capital for private sector projects, or for companies in the process of privatizing, with a special emphasis on small businesses. The Fund would also assist small and medium sized enterprises with the marketing, finance and technical assistance they need. The Fund--which will have a ten year life--is expected to be capitalized at US$20 million, though a closing for a smaller amount could be envisaged. The project--IFC’s first in BH--consists of an equity investment of up to US$2.0 million in the Horizonte Bosnia and Herzegovina Enterprise Fund. The Fund is the first vehicle of its kind dedicated to investment in BH and will serve as an important source of equity capital for BH’s emerging private sector.
Environmental Category and Issues
IFC’s Environmental Division has classified the project as a Category FI according to IFC’s environmental review procedure. The Fund will be required to undertake an environmental review of eligible investee companies’ operations.
Date SPI send to PIC: August 19, 1996
For additional information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 676-0365
Sponsor / Cost / Location
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