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

Suspects remanded in custody in corruption probe at Croatian pipeline operator Janaf

The mayors of two Croatian towns, who are also sitting MPs, were the latest suspects to be remanded in custody as part of a corruption probe initiated on Croatian state-controlled oil pipeline ... more

Croatian government in talks to keep BAT investment

The Croatian government is in talks with British American Tobacco (BAT) in an attempt to keep the company in Croatia, Prime Minister Andrej Plenkovic said on September 8, cited in a government ... more

Coronacrisis a further blow for Croatia’s struggling meat industry

The coronavirus (COVID-19) crisis is putting further pressure on companies in Croatia’s slaughterhouse and meat processing industry, which was already struggling in the face of cheap imports, the ... more

Dismiss