The European Bank for Reconstruction and Development (EBRD) announced on Thursday a 10
million euro ($10.85 million) investment in GapMinder Fund II, a venture capital fund run by
Romanian venture capital firm GapMinder.
This partnership aims to bolster the technology sector by providing critical capital to early-stage
tech companies in Romania, but also in Bulgaria, Croatia, Moldova, Serbia and Slovenia, the
EBRD said in a press release.
The lack of ready availability of long-term financing remains a barrier to start-ups in the regions
where the EBRD invests, the bank noted, adding that the partnership with GapMinder Fund II
addresses this challenge by providing start-up companies with necessary capital, enabling them to thrive and introduce new technologies and business models, the lender said.
GapMinder Ventures targets seed and Series A stage business-to-business (B2B) IT software and
digital product start-ups in the areas of fintech, cybersecurity, enterprise automation, and data and analytics. It invests up to 2 million euro in seed funding and up to 6 million euro in follow-up
fundraising rounds, according to its website.
Source: https://seenews.com/news/ebrd-backs-romanias-vc-firm-gapminder-to-invest-in-see-849283
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