Institution: European Bank for Reconstruction & Development
Headquarters: London, United Kingdom
AUM: €4.35 billion
European Bank for Reconstruction & Development (EBRD) has committed €5 million to the venture capital vehicle 500 Istanbul Fund II.
EBRD’s commitment was part of its Early-Stage Innovation Facility, a €100 million programme that invests in early-stage venture capital funds. Fund II, which has a €60 million target size, was launched in October 2020. It is aimed at investments in technology-focused, early-stage companies in Turkey and Central and Eastern Europe.
The fund is managed by 500 Global, a San Francisco-headquartered investment firm that targets seed to series A-stage technology-related companies. The predecessor fund, 500 Istanbul, closed with $6.3 million in 2015, according to Private Equity International data.
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