Global Finance, manager of the Black Sea Fund venture capital fund, is planning to invest $15 million this year in the capital of three companies dealing in telecommunications and food industry, with two of those investments standing real chances of completion by the end of June.
"Whereas Global Finance has invested only along with Greek partners so far, starting this year, the company will also invest together with successful Romanian entrepreneurs. We want to support outstanding entrepreneurs and managerial teams that got remarkable results and are ready to undergo an expansion process, turning the companies they now run into regional market leaders.
At the same time, we will support those foreign companies planning to enter the Romanian market, both financially and with the experience we have gained over the years we spent here," Aurelian Trifa, Global Finance investment manager, told Mediafax.
Global Finance is to invest some two to nine million dollars, with the possibility of attracting higher amounts of money by syndication.
The average period for such an investment to be run ranges between three and six years on the average. "We will clearly focus on companies with a genuine growth potential, no matter if they were established before or after 1989.
The transition of Romanian economy should boost the entrepreneurial spirit as it happened in the other CEE countries.
This is why our company is trying to back those companies operating in Romania, which need both the capital and the managerial support to upgrade and expand their activities by introducing new technologies and for buying companies on the local or regional market.
The target companies are those capable of absorbing two to nine million dollars in capital, therefore we focus on medium-sized and large companies."
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