Latvia, EIF Selects Imprimatur Capital Baltics as Intermediary for Jeremie Holding Fund
Published On September 30, 2009 |
The European Investment Fund Board selected Imprimatur Capital Baltics as second financial intermediary under the JEREMIE initiative’s call for expressions of interest in Latvia.
Imprimatur Capital Baltics will establish and manage new seed and start-up capital funds with a planned total capital of €20.4m (€14.7m public and €5.7m private) focused on investing in micro, small and medium enterprises (MSMEs) in the country.
The funds will provide early-stage financing for innovative technology companies with international growth potential.
The seed fund will provide proof-of-concept financing of up to €100,000 per qualifying company, and the start-up fund will invest up to €1m per company, with the target of creating a portfolio of 14-16 technology growth companies in Latvia in the medium and long term.
The call for expression of interest for Latvia’s JEREMIE Holding Fund attracted 10 applicant companies from Latvia and 1 from Italy.
Subject to the raising by the fund manager of private sector investor commitments, the funds are expected to be operational by the end of 2009.