Axxess launches new fund covering Romania and region.

By bne IntelliNews October 4, 2010
Axxess Capital, the manager of Romanian American Enterprise Fund and Balkan Accession Fund, announced plans to launch a third private equity fund with a target invested value of EUR 150mn (of which EUR 94mn were already raised, according to Ziarul Financiar daily) to operate in the region, mainly Romania, Bulgaria and Turkey. The fund, named EEAF, will invest in private firms operating in B2B services, production, logistic, distribution, financial services, healthcare and IT&C with some EUR 5mn-20mn per project. The main investors in the fund so far are the EBRD, the European Investment Fund, Swiss institutional investor Acquina Partners, Black Sea Trade and Development Bank and German investment fund DEG; individual US investors also contributed.

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