EBRD approves €8m commitment

The London-based development bank has backed a venture capital fund.

Institution: European Bank for Reconstruction & Development
Headquarters: London, United Kingdon
Bitesize: £10-50m

European Bank of Reconstruction & Development has confirmed an €8 million ($8.7 million) commitment to Change Ventures Fund II, according to recent project summary documents released by the bank.

The venture capital fund is managed by Change Ventures, and will be investing in early-stage TMT enterprises in the Baltic countries of Estonia, Latvia and Lithuania. Additionally, the fund will also be supporting early-stage startups during the period of COVID-19 related economic challenges.

As illustrated below, EBRD’s recent private equity commitments have primarily been to funds focused on investing in TMT companies within the CEE, Asia-Pacific and Middle East regions.

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