On 13 December 2023, the Croatian Private Equity and Venture Capital Association (CVCA) held the General Assembly Meeting of its members, followed by the Management Board meeting and Xmas Networking Drinks.
CVCA membership includes 18 regular members, fund managers of private equity, venture capital and mezzanine funds with headquarters or representative offices in Croatia who manage EUR 3.5 billion of assets under management. Besides regular members, CVCA members include associate members, individual members, honorary members (founders), and a total of 28 active members.
The Assembly meeting was attended by representatives of most (15) regular members, including Aymo Ventures, BlackPeak Capital, Blue Sea Capital, ECM Partners, Enterprise Investors, Feelsgood Capital, Fil Rouge Capital, Gyas, HMID, Inspire Investments, Integral Venture Partners, Invera Equity Partners, Mezzanine Partners, Prosperus Invest, Provectus Capital Partners. Three (3) regular members could not join: GreenArt Equity Partners, InterCapital Asset Management and Maverick. Two out of nine associate members attended the Assembly: Bradovica, Marić, Wahl, Cesarec (BMWC) law firm and VentureXchange, as well as an honorary member and founder Mirna Marovic. A total of 18 out of 28 active members were present at the Assembly, representing a valid quorum for taking all decisions, including amending the Articles of Association.
At the Assembly, Mirna Marovic, CVCA’s President, presented the President’s Report on the activities in 2023. Some of the activities included the flagship conference BestInvest Croatia, with an award ceremony for the best private equity and venture capital investments, which was a significant success held in its third annual edition (find out more). In 2023, CVCA organised the LP-GP Networking Event for the first time, bringing together fund managers (GPs) and end-investors (LPs) to Dubrovnik (find out more). CVCA also organised an ESG/sustainability webinar for best market practices in preparation for the EU sustainability regulation (SFDR, TR) with the Croatian financial market regulator (HANFA). CVCA established partnerships with many international and local institutions, including the Croatian Bank for Reconstruction and Development (HBOR), the European Investment Bank (EIB), the European Investment Fund (EIF), European Bank for Reconstruction and Development (EBRD), Croatian Chamber of Commerce (HGK)Croatian Banking Association (HUB), Zagreb Stock Exchange (ZSE), Progress Market, Croatian Exporters, CroStartUp, CroAI, Algebra, Bird Incubator, LeanStartup Croatia (now Smion), Poslovni dnevnik, and other conference organisers (Podim, InformaConnect) relevant for its industry. President’s Report for 2023 was supported unanimously by members present at the Assembly.
Mirna Marovic presented the plan for the activities for 2024, which would include the fourth edition of BestInvest.hr, SustainInvest dinner and workshop of the best market practices of integrating ESG/sustainability in managing private equity and venture capital funds, Croatian Success Stories publication on the economic impact of the industry on the Croatian economy and presentation of successful case studies, LP-GP Networking Event, and thematic breakfast events on the range of topics. The presented plan of activities for 2024 was supported and voted for unanimously by members present at the Assembly.
Mirna Marovic also presented preliminary financial results for 2023 and a plan for 2024. Going forward, CVCA will try to secure sponsorships for more than one event and activity, offering various year-long packages.
Finally, the Assembly held elections for the Management Board members. The Articles of Association, Article 27.1, limit the total number of Management Board members to 11. Among 14 candidates, 11 new Management Board members were elected. The new Management Board members include (in alphabetical order of surname): Renata Brkić (Feelsgood Capital), Julien Coustaury (Fil Rouge Capital), Mila Čiček (Blue Sea Capital), Marko Galić (Provectus Capital Partners), Krešimir Gjenero (Mezzanine Partners), Darko Horvatin (HMID), Slaven Kordić (Invera Equity Partners), Kornelija Lojo (Inspire Investments), Mirna Marović (CVCA Founder), Tomislav Tičić (Prosperus. Invest), Tomislav Tomljenović (Enterprise Investors).
The election of the Management Board concluded the Assembly meeting. The newly elected Management Board had an immediate meeting to elect the President. All Management Board members voted for Mirna Marovic to be re-elected as the President of CVCA.
Mirna Marovic expressed gratitude to all CVCA members present for their unanimous support. She stated that it is an honour to spearhead the private equity and venture capital market development in Croatia from its embryonic stages in 2004 to the heights of being the driving force transforming the Croatian economy and fuelling its growth.
Following the formal part of the Assembly and Management Board meetings, CVCA members held Xmas Networking Drinks attended by approximately 80 members and business partners, including end-investors (LPs), lawyers, advisors, and other market participants.
Explore our photo gallery to relive the memorable moments from the event and connect with the faces behind our thriving community.