Innovation Capital JSC - Sofia - Short Company profile

Bulgarian Stock Exchange (BSE) and the Fund of Funds signed a memorandum for encouraging the investments in prosperous Bulgarian companies. The memorandum comprises initiatives for popularisation, training and stimulation of dynamic and ambitious Bulgarian companies to raise capital for their growth. The document was signed today during the first round table with venture and equity funds as part of the joint initiatives launched by Bulgarian Stock Exchange and the Fund of Funds. The forum opened the deputy minister of finances, Ms Marinela Petrova, as a representative of the principal of both institutions. "Our efforts are concentrated in two directions. On the one hand, we are developing new forms of financing, suitable for start-up and innovative Bulgarian companies that would not receive a loan from commercial banks due to higher risk. On the other hand, we want to increase the financial culture of the entrepreneurs by offering them these new instruments. We are convinced that in this way we give Bulgarian business knowledge and the opportunity to choose the most appropriate way of financing, which is, after all, an important factor for sustainability.", commented Mr Aleksandar Georgiev, executive director of the Fund of Funds. "We believe in the potential of Bulgarian companies, which have a unique capacity for innovation, job creation and ultimately stimulating Bulgaria's economic prosperity, especially in the current global crisis situation. This common understanding made us join forces and together with the Fund of Funds to open new horizons for the successful business development of these companies.", added Assoc. Prof. Manyu Moravenov, executive director of Bulgarian Stock Exchange. During the round table, the Fund of Funds made the participants acquainted with the innovative financial instruments of interest to investors. The BSE presented the opportunities that the BEAM growth market offers to the venture and private equity funds. Representatives of the institutions and participants in the forum discussed different models to finance growth, funding opportunities from public and private capital markets, strategic thinking behind the choice of funding opportunities, how to use digital financial innovations to link the companies with the available capital, and they got acquainted with the leading practical experience of the technology company Biodit, which is to be listed on the BEAM market of BSE. The funds taking part in the round table were BlackPeak Capital, Capital Investments Fund, CEO Angels Club Endeavor Bulgaria, Impetus Capital, Innovation Accelerator Bulgaria, Innovation Starter Accelerator, Neo Ventures, Vitosha Venture Partners etc.