High-technology export companies missing investor that would invest half a million to a few of their expansion.
We have begun discussions with the World Bank on the establishment of the first Croatian venture capital (VC) fund worth 40 million euros, said Boris Guina , Vice President Hamag-Bicroa.
The project in question for almost two years and which aims to support a larger number of prospective domestic startup in the rapid expansion into international markets. Guina declined to detail the discussions with the World Bank which states that at an early stage and to involve and attract potential private investors. Earlier this week , Goran Becker , Member of the Board Hamag Invest. speaking in front of Croatian exporters, announced that the State of the World Bank wants to take a loan of 20 million euros for the VC fund. He said that the remaining 20 million to try to raise from interested investors, among others, pension funds, EBRD, EIB, corporate investors and international institutions.
Becker when it is not stated what would be the model of governance, Finnish or Bulgarian, but only to the World Bank directly negotiate the Ministry of Finance. Potential large corporate investors such as Agrokor, Croatian Telecom and Vipnet had no comment. For HT they sent a message that for some time participating in the development of Croatian startup ecosystem and provides maximum support through a hub Rauma, a startup incubator Deutsche Telekom Group. In addition, support and Zagreb entrepreneurship incubator (ZIP) .In two Zagreb startup incubator zip-in and CORE Incubator say they are interested in cooperating with the first Croatian VC fund. The Impact Hub are even wary of comments.
Among business angels we learn that there is a great interest in the realization of this project, but as the main question was to be a model of management with respect to VC funds do not typically managed by the state. Slightly larger investors stated that they would like to see the program of the new fund with respect to the locally establishment or announce something smaller, so-called. seed funds, such as those made of ZIP and one that announces City Zagreb.Navode that the consultations that Croatia had with the World Bank the past month have shown that the establishment of a domestic VC fund high priority due to a lack of investors to support high-tech export company with investments from half to several million.
Source: poslovni.hr