New BSTDB Investment of EUR 5 Million in EOS Hellenic Renaissance Fund II

New BSTDB Investment of EUR 5 Million in EOS Hellenic Renaissance Fund II

Press Release | 02-Jul-2024

Investment to Boost Growth of Greek SMEs Across Key Sectors

The Black Sea Trade and Development Bank (BSTDB) is investing EUR 5 million to the EOS Hellenic Renaissance Fund II (EHRF II). This investment aims to provide growth capital for Greek SMEs and Small Mid-Caps active in various sectors including food & beverage, hospitality services, pharmaceuticals, fintech, retail, and industrials.

BSTDB will invest in the Fund along with the Hellenic Development Bank of Investments S.A. (HDBI), Greek banks, insurance companies, pension funds, listed companies and prominent Greek entrepreneurs.

Established in Luxembourg, EHRF II aims to invest in high-growth potential Greek companies, building on the success of EOS Hellenic Renaissance Fund (EHRF). In 2018, BSTDB invested EUR 3 million in EHRF alongside other investors, including the European Investment Fund (EIF), and other European Institutional Investors. The investments from EHRF created more than 1,500 new jobs and increased investees' total sales and EBITDA by 108% and 74%, respectively, up to FY 2023. Leveraging the Fund Manager's extensive experience, EHRF II will create a diversified portfolio of 10-12 investments in Greek SMEs and Small Mid-Caps, driving significant growth and value creation for the Greek economy and local communities.

"We are excited to support EOS Hellenic Renaissance Fund II with our investment. The Greek economy has demonstrated impressive resilience in recent years. This Fund represents a crucial opportunity to empower Greek SMEs, enabling them to grow and thrive in their respective sectors. Our participation in EHRF II aligns perfectly with our strategic objectives and commitment to fostering economic development in Greece. Additionally, it supports the international engagement and competitiveness of the Greek economy. We look forward to witnessing this investment's positive impact on the Greek economy." said Dr. Serhat Köksal, BSTDB President.

"EOS is delighted to develop its relationship based on mutual trust and confidence with BSTDB through the latter's second investment in our Funds. Our goal is to continue to expand our investor base with high-quality partners as we unfold our strategy across verticals. We remain fully focused on supporting SMEs and Small Midcaps in becoming the corporates of the future and reinforcing the Greek Economy.", said Apostolos Tamvakakis, Managing Partner of EOS Capital Partners.

This investment reaffirms BSTDB's dedication to offering alternative sources of funding and promoting sustainable economic development in its member countries by partnering with reputable funds and institutions to stimulate growth and innovation in the region.

EOS Hellenic Renaissance Fund II is a private equity fund which provides growth capital to high growth SMEs and Small Mid-Caps, enhancing their entrepreneurial activities in Greece. The Fund's management company is EOS Capital Partners AIFM, Greece ("EOS Capital Partners"). The Fund is incorporated as a Luxembourg RAIF SCA. The Black Sea Trade and Development Bank (BSTDB)is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. The BSTDB headquarters are in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is EUR 3.45 billion. For information on BSTDB, visit www.bstdb.org.

Contact:

Haroula Christodoulou

Phone: +30 2310 290533

: @BSTDB

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