Croatia’s €30mn Feelsgood Fund launches with EIF backing

Croatia’s €30mn Feelsgood Fund launches with EIF backing
By bne IntelliNews October 3, 2019

Croatia’s first social impact fund, the Feelsgood Fund, was launched in Zagreb on October 3. 

The €30mn fund is a venture capital fund that will finance Croatian start-ups with environmental and social impact, said the European Investment Fund (EIF), which contributed €15mn to the new fund. 

The EIF’s investment was almost entirely covered by the European Fund for Strategic Investments (EFSI), which is the central part of the Investment Plan for Europe, or Juncker Plan.

According to a statement from the EIF, the Feelsgood Fund is the the first Croatian venture capital fund managed by a fully Croatian team, which signals “the maturing and development of the local financial market”. Two of the three existing venture capital funds operating in Croatia were set up with EIF support.

It will invest into Croatian and Slovenian early- to growth-stage startups in the areas of financial inclusion, agriculture and farming, circular economy, education and healthcare.

“The launch of the new Feelsgood Fund in Croatia - which is being financially backed by the European Investment Fund and the Juncker Plan – is good news. Not only are key sectors, such as  the circular economy and healthcare, to receive a financial boost, but those companies will make a positive social impact,” said European Commission Vice-President Valdis Dombrovskis, responsible for the Euro and Social Dialogue on the launch of the fund. 

“With support for Feelsgood Fund, the EIF is making yet another positive mark on Croatian economy. This time we are enabling new investment opportunities for country’s startups with environmental and social impact to make sure we achieve sustainable development of Croatian economy and make sure Croatia is able to respond to major social and environmental challenges of today,” said Uli Grabenwarter, head of equity investments – ITI of the EIF. 

Related Articles

Telekom Srbija places highest bid of €155mn for Kosovo’s IPKO

Pristina mayor Shpend Ahmeti said on June 25 that Serbian state-owned telco Telekom Srbija has placed the highest bid worth €155mn to acquire its Kosovan peer IPKO Telecommunications, but that ... more

Iran’s face of the news ‘out of a job after revealing devotion to pre-revolution pop star’

Mohammad Reza Hayati, for more than three decades the face of the news on Iran’s state-controlled television, is ... more

Turkish fintech Figopara raises $1mn in second financing round with IFC and angel investor participation

Turkish fintech Figopara, established in 2017, has raised a million dollars in its second financing ... more

Dismiss