The Japanese Bank for International Cooperation (JBIC) will co-finance the Resilience Venture Capital Fund (Recovery Equity Fund or REF) in Romania through one of its subsidiaries in Poland, Romanian authorities announced, quoted by Economica.net.

"The representatives of JBIC stated that they are interested in the co-financing of [REF], an instrument for financing startups worth EUR 400 million managed by the government of Romania together with the European Investment Fund," said the president of the Agency for the Monitoring and Evaluation of the Performance of Public Enterprises (AMEPIP), Mihai Precup, during a visit paid to Tokyo.

This source of financing addresses several categories of funds, Precup said, outlining among the potential targets infrastructure funds, development capital funds (private equity), risk capital funds (venture capital), and crowdfunding platforms.

In December 2021, the government of Romania and the European Investment Fund signed a contract for the establishment of the Fund of Venture Capital Funds for Recovery, an investment financed by a contribution of EUR 400 million from Component 9 of the National Resilience Facility (PNRR)  - "Support for the private sector, research, development and innovation."

By 2026, approximately twenty investment funds are anticipated to obtain resources to invest in Romanian companies. 

iulian@romania-insider.com

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