Fund of Funds Presented The Opportunities for Innovative Investment Solutions for the Bulgarian Business

Fund Manager of Financial Instruments in Bulgaria (a.k.a. Fund of Funds) presented today, June 16, 2023, the investment solutions opportunities for investments and joint investments that are available for a sustainable growth for the Bulgarian enterprises. That happened at a joint event, co-organized by AmCham Bulgaria and UniCredit Bulbank. Over 60 representatives of Chamber’s mambers at senior and C-level positions gathered at the International Center of UniCredit, downtown Sofia, to learn more about these opportunities and to expand their contacts and relationships with the organizers.

Fund of Funds structure and maange financial instruments of various EU programs. Today we will present in detail what we have achieved so far, as well as with the new products with which we are encouraging the upgraded development of the business in the country. In the new program period we will manage BGN 2 bn public resource with which we will continue building sustainable entrepreneurship environment in a winding spectrum of directions such as innovation, high technologies, circular economy, green financing, resources and energy efficiency, technological transfer, Industry 4.0., and digital transformation. As of now we have supported over 2,700 companies and we continue building-up – some of the most success stories you will hear today from our fund-manager, and for the others – I do hope – you will take part in,” said during his opening remarks Nikolay Genchev, Chairman of the Supervisory Board of FMFIB

“Among the main priorities of AmCham Bulgaria is the sustainable development of the investment climate and the business environment in Bulgaria. Its practical application goes through encouraging innovation and digitalization of the SMEs. The available resource in EU programs that is available via the Fund of Funds is among the engines for implementing such projects. With this resource the Bulgarian business can sustain and upgrade its market shares. For our organizations it is vitaly important to have such partnerships with the Fund of Funds and with our patron member UniCredit Bulbank. This is our formula for benefits to our members, thus those business opportunities to have their continuation in future, in which I am certain,” addressed the audience Ivan Mihaylov, CEO, AmCham Bulgaria.

“UniCredit Bulbank creates opportunities for growth in each sectors of the national economy. We have the expertise and we know our client’s needs. We develop long-term relationships and as of now we are the bank with the largest market share of the corporate financing. Over 70% of the international companies in the country are our clients. Each minute we execute over 100 payments,” shared before the guests Borislav Bangeev, Corporate Banking Director and Member of the Managing Board of UniCredit Bulbank.

“Our clients consider the opportunity to use more of our products via our digital channels, and our online banking is transforming itself into a virtual ecosytem for the business needs.” – he pointed also.

Event overview

In the first invormative panel the FMFIB members of the Managing Board – Viktoriya Hristova, Pavel Lissev, and Biser Petkov – made a concise overview of the financial instruments of the previous Program Period 2014 – 2020 and they outlined the products framework, that are planned for execution in the current period 2021-2027. Some of the accents of their presentation focused on the provided so far support via share or quasi-share investments under OPIC 2014-2020, sector portfolio of the implemented investments, the remaining resource from the past period, the framework of the new mandates and the future instruments targeted towards business growth in various areas and stages.

Fund’s experts Kalin Brankov, Head of Debt Financing Instruments and Konstantina Voynova, Head of Equity Financial Instruments, presented in detail the specifics of the opportunities that the Fund can provide to the Bulgarian business with a time span of 2021-2027.

At the event participated as well as Kalin Marinov, Deputy Director of the Chief Directorate “EU Competition Funds”, at the Ministry of Innovation and Growth.

The last panel contained evidence and success stories from the five fund managers for risk investments. Participants were Stoyan Nedin from Vitosha Venture PartnersPavel Velkov, CFA from Morningside Hill Capital ManagementYavor Gochev from Innovation Capital, Aleksandar Terzyski from New Vision 3 Fund and Evgeny Angelov from Silverline Capital .


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