EBRD Allocates €10 Million to Boost Romanian Tech Startups via GapMinder Fund II, The European Bank for Reconstruction and Development (EBRD) has allocated €10 million to GapMinder Fund II, an investment fund operated by the Romanian venture capital entity, GapMinder. This funding is aimed at supporting one of the pioneering institutional local venture capital managers in Romania. Its objective is to cultivate a diverse portfolio and inject capital into early-stage tech companies, fostering the expansion of the Romanian tech and venture capital sector.

GapMinder Fund II is set to channel investments into equity and quasi-equity for early-stage, technology-oriented firms primarily within Romania, extending its reach to include Bulgaria, Croatia, Moldova, Serbia, and Slovenia within the EBRD's areas of operation.

The challenge of obtaining long-term risk capital and the underdevelopment of a robust venture capital ecosystem are significant hurdles for the growth of innovative startups in regions where the EBRD operates. Consequently, bolstering venture capital availability and funding at the regional level is deemed essential for the flourishing of early-stage businesses, enabling them to launch new technologies and business strategies across EBRD's markets.