The Croatian Bank for Reconstruction and Development (HBOR) and the European Investment Fund (EIF) have jointly launched the Croatian Growth Investment Programme II (CROGIP II). The main goal of this program is deeply rooted in encouraging the development and strengthening of private equity fund management companies, which direct a significant part of their investments to support fast-growing Croatian small and medium-sized enterprises, smaller medium-sized enterprises and medium-sized enterprises. The total value of this program is an impressive EUR 52 million. Interested fund managers can apply by clicking on the link here.
The main goal of this program is deeply rooted in encouraging the development and strengthening of private equity fund management companies, which direct a significant part of their investments to support fast-growing Croatian small and medium-sized enterprises, smaller medium-sized enterprises and medium-sized enterprises.
The total value of this program is an impressive EUR 52 million. This amount is divided between the Croatian Bank for Reconstruction and Development (HBOR) and the European Investment Fund (EIF), each providing EUR 26 million. Furthermore, this initiative is expected to attract additional funds from private investors who will invest in growth capital funds. Together with funds from the program, these funds will stimulate financial support for innovative and ambitious projects.
HBOR’s funds for EUR 26 million are financed from the Recovery and Resilience Facility under “Next Generation EU”, which clearly shows the connection of this project with European efforts to stimulate recovery and growth.
On the other hand, the European Investment Fund (EIF) published a Call for Expressions of Interest intending to select financial intermediaries, i.e. growth capital fund management companies, that meet all the necessary conditions for access to funds available within CROGIP II.
The deadline for submission of expressions of interest is set for 31st December 2023, providing an opportunity for all relevant stakeholders to get involved in this significant project aimed at stimulating economic growth and development in Croatia.