||The EBRD, through its Venture Capital Investment Programme III (VCIP III), which is a continuation of the venture capital investment programme of the Bank through two previous frameworks, VCIP I and VCIP II, will aim to invest in early and growth-stage technology companies via equity and equity-linked instruments (investment size up to €25 million) in the Banks countries of operation alongside with experienced venture capital co-investors. Investments target innovative and high growth small and medium-sized companies largely under-serviced by the limited venture capital community to help fill the venture capital equity gap in the market.
The overarching objective of VCIP III is the development and commercialisation of innovative technologies and attracting top venture capital funds to the Banks countries of operation where the availability of venture capital is still very low and the venture capital ecosystems are still nascent.
Other key objectives: (i) the VCIP Frameworks enable the Bank to foster knowledge economies in the EBRD region, develop technology ecosystems and support innovation; (ii) the Bank, through the VCIP Frameworks, plays an important role in bridging the venture capital funding gap that exists in the EBRD region (iii) the VCIP Frameworks allow the Bank to maintain a specialised portfolio approach to higher risk / higher return investment opportunities.
ETI score: 80
VCIP III is expected to contribute to the Competitive and Resilient transition qualities as it will support the development of recently established highly innovative technology-based companies, as well as promote better access to venture capital which is still nascent in the EBRD region.
By investing in digital-first companies that offer technology-based solutions to the market, VCIP III will directly contribute to the EBRDs Strategic Capital Framework priority of accelerating digital transition. Further expansion of VCIP activity in the EBRD region, where venture capital markets are still at nascent stages, is also expected to contribute to ongoing demonstration effect of successful entrepreneurship and venture capital as an asset class.