EBRD investing in fund to support tech companies in Caucasus, Central Asia, Türkiye

The European Bank for Reconstruction and Development (EBRD) intends to invest up to 25 million euros in the equity capital of Molten East Fund I SCSp, which has a target fundraising volume of 200 million euros, Report informs referring to the EBRD.

The fund's capital will be used for equity and quasi-equity investments in technology companies operating in their early development and active growth phases.

The geographic mandate of the fund covers Türkiye, Central and Eastern European countries, the Caucasus region, and Central Asian states.

This project is being implemented under the EBRD's specialized Early-Stage Innovation Facility II (ESIF II), a 200-million-euro program established to invest in venture capital funds focused on early-stage company development.

According to the bank, the EBRD's involvement plays a key role in the successful completion of the fund's first capital-raising round. This backing will allow the pan-European venture structure to launch a dedicated division for the target region, assemble a professional team, and facilitate the transfer of best practices to emerging markets.