Two new private equity funds - Evolving Europe Principal Investments Fund II and Finance in Motion Renewables Growth Fund - will receive up to EUR 27.5 million under the national implementation of the Resilience Facility (PNRR) to invest in Romanian companies, the Romanian Ministry of Investments and European Projects (MIPE) announced.

The Investment Committee appointed by the Government of Romania for the Recovery Equity Fund (REF) approved the financing of the two new investment funds that will receive allocations under the PNRR. 

The PNRR venture capital initiative is administered by the European Investment Fund (EIF), but in the process, the private equity and VC funds must receive approval from both the EIF and the Investment Committee designated by the Romanian Government.

Evolving Europe Principal Investments Fund II is the second fund of Integral Venture Partners, which bets especially on Central and Eastern Europe.

"The Evolving Europe Principal Investments Fund II will invest in companies from Romania and Bulgaria (20% each), as well as in the Western Balkans and Central and Eastern Europe. The fund will support companies from sectors such as consumer, health, industry, technology, and business services, targeting between 10 and 12 companies, with an average ticket of EUR 12.5mn," reads the MIPE press release.

(Photo: Designer491/ Dreamstime)

iulian@romania-insider.com