Development finance institution
European Bank for Reconstruction and Development (EBRD)
The European Bank for Reconstruction and Development (EBRD) is a multilateral developmental investment bank established to foster the transition towards open market-oriented economies and to promote private and entrepreneurial initiative. Headquartered in London and owned by 77 countries, the European Union, and the European Investment Bank, the institution utilises a broad range of financing instruments, including loans, equity investments, and guarantees, to support projects across Central and Eastern Europe, Central Asia, and the Southern and Eastern Mediterranean. The Bank prioritises investments that advance the green economy transition, digital transformation, and economic inclusion, focusing on sectors such as financial institutions, energy, infrastructure, and corporate agribusiness.
Investment focus
- Sectors
- Financial servicesEnergy and powerAgriculture and foodManufacturing and industrialsTechnologyReal estate and housingMining and natural resourcesConsumerSMEs
- Stages and strategies
- GrowthBuyoutSeedFund investments
- Instruments
- EquityDebtMezzanine
- Regions
- Europe, Asia, Middle East, Pan-African, Northern Africa
- African markets named in public materials
- Nigeria
Fund commitments
- UFG Private Equity Fund I, L.P.
- V4C Poland Plus Fund
- Karma Ventures I, SICAV-SIF, SCS
- UCP private equity fund II
- Advent Central & Eastern Europe I, L.P.
- New Europe Venture Equity L.P.
- Eagle Kazakhstan Fund, L.P.
- DBG Eastern Europe II, L.P.
- Hines Poland Sustainable Income Fund
- Avia Capital 1
- Badia Impact Fund II
- Mediterra Capital Partners I, LP
- Aureos Central Asia Fund, L.P.
- Advent Central & Eastern Europe III
- Pera Capital Partners Fund I L.P.
- Maghreb Private Equity Fund III (MPEF III)
- Genesis Private Equity Fund
- Volga River Growth Fund II
- Romanian Post Privatization Fund
- Horizonte Slovene Enterprise Fund
- Turkven private equity Fund III
- Baltics Small Equity Fund
- Krokus Nova Polonia III LP
- Hines Russia & Poland Fund
- Capital North Africa Venture Fund I
- CapMan Russia II Fund
- Quadriga Central Russia Regional Venture Fund
- Euroventures Ukraine Fund II, L.P.
- Da Vinci Private Equity Fund II
- Avallon MBO II
- Troika Capital Partners Growth III
- The Currency Exchange Fund (TCX) N.V.
- Badia Impact Fund
- EMF New Europe Insurance Fund
- Southern Russia Regional Venture Fund
- ECM-Bulgarian Post-Privatisation Fund
- Polonia Property Fund L.P.
- Russia Partners III, L.P.
- Clean Energy Transition Fund, L.P.
- Baltic Investment Fund II, L.P.
- Emerging Technologies Fund, L.P.
- Centras Private Equity Fund
- Badia Impact Squared
- Advent Central & Eastern Europe IV, L.P.
- Avallon MBO Fund III
- Accession Mezzanine Capital III L.P.
- Ezdehar Egypt Mid-Cap Fund
- Royalton Capital Investors II
- Revo Capital Fund I B.V.
- North West and West Russia Regional Venture Fund II
- Balkan Accession Fund C.V.
- Darby Converging Europe Fund III (SCS) SICAR
- Abraaj North Africa Fund II (ANAF II)
- Barings Communications Equity
- Accession Mezzanine Capital Fund
- Polish Enterprise Fund VII
- Russia Partners II, LP
- South-Eastern Europe Fund
- Global Bulgaria and Romania Growth Fund
- North West and West Russia Regional Venture Fund I
- Algebra Ventures Fund I
- NCH Agribusiness Partners II, LP
- Maghreb Private Equity Fund IV (MPEF IV)
- Enterprise Innovation Fund
- Royalton Capital Investors
- CEE Special Situations Fund LP
- Baring Vostok Private Equity Fund V, L.P.
- Taiga Poland II SICAR
- Emerging Europe Growth Fund III L.P.
- Technologieholding Central and Eastern European Fund N.V.
- Russia New Growth Fund, L.P.
- CapMan Russia Fund, L.P.
- UFG Private Equity Fund II, L.P.
- The Russia Development Fund
- GED Eastern Fund II
- FCR
- Quadriga Capital Russia Private Equity Fund II
- Eagle Smolensk Fund, L.P.
- Baltic SME Fund C.V
- Foursan Capital Partners II
- Baring Vostok Private Equity Fund
- Caucasus Capital Fund
- Euroventures Danube BV
- Invera Private Equity Fund
- BaltCap Private Equity Fund III
- Enterprise Investors Fund IX, SCSp
- Syntaxis Mezzanine Fund II L.P.
- Alpha CEE II, L.P.
- Alpha Russia & CIS Secondary L.P.
- Abraaj Turkey Fund I
- Eurasia Capital Partners L.P.
- Syntaxis Mezzanine Fund I L.P.
- AIG Silk Road Fund, L.P.
- Almaz Capital Russia Fund II LP
- Meridiam Infrastructure European Fund III
- Polish Enterprise Fund IV
- Croatian Capital Partnership L.P.
- Lower Volga Regional Venture Fund
- Macquarie Russia & CIS Infrastructure Fund
- Evolving Europe Principal Investments II SCSp
- Avallon MBO Fund
- SEAF-Macedonia
- Tamir Fishman Ventures III
- Elbrus Capital Fund II
- Advent Central & Eastern Europe II, L.P.
- ADM Kazakhstan Capital Restructuring Fund
- Dexia-FondElec Energy Efficiency and Emissions Reduction Fund, L.P.
- Russia Partners Technology Fund L.P.
- BaltCap Private Equity Fund, L.P.
- GIMV Czech and Slovak SME I
- Taxim Capital Partners I LP
- ZPIFVI VTB Venture Capital Fund
- ADM Capital CEECAT Recovery Fund
- Kazakhstan Growth Fund L.P.
- Kosovo Reconstruction Equity Fund
- Revo Capital Fund II B.V.
- Emerging Europe Accession Fund CoÖPeratief Ua
- Central & East European Environmental Investment Fund (Environmental Investment)
- SEAF Caucasus Growth fund
- Poland Investment Fund L.P.
- 7L Capital Partners Emerging Europe L.P.
- Albania Reconstruction Equity Fund
- GapMinder Fund II Cooperatief UA
- EU-Armenia SME Fund
- Europe Virgin Fund L.P.
- Almaz Capital Russia Fund I, L.P
- Arx CEE III, L.P.
- Genesis Private Equity Fund IV (GPEF IV)
- The Askembla Growth Fund KB
- Revo Capital Fund III
- Accession Mezzanine Capital II
- Baltic Investment Fund III, L.P., C.V.
- Highland Private Equity and Mezzanine Fund L.P.
- Earlybird Digital East Fund 2012 SCA SICAR
- Mongolia Opportunities Fund I
- Ukraine Fund
- BaltCap Private Equity Fund II
- Baring Vostok Private Equity Fund IV, L.P.
- Algebra Ventures Fund II
- 3TS Central European Fund II, L.P.
- Bancroft 3, L.P.
- EnerCap Power Fund I L.P.
- Zubr Capital Fund 1 LP
- Horizonte Bosnia & Herzegovina Enterprise Fund
- Volga River Growth
- Mid Europa Fund IV
- Euroventures Ukraine Fund I, L.P.
- Tanmiya Capital Ventures (TCV) Fund II
- Hungarian Capital Fund
- Nova Polonia PEF
- Morphosis Capital Fund II Coöperatief U.A.
- SPE Private Equity Fund III (SPE PEF III)
- V4C Poland Plus Fund II S.C.A. SICAV-RAIF
- Livonia Partners Fund II
- Helios Investors V
- Ventures Platform Pan-African Fund II
- Horizon Capital Growth Fund IV
- Ibtikar Fund II, L.P.
- RMBV North Africa Fund III
- Mediterrania Capital Partners III
- EBRD Venture Capital Investment Programme II
- EBRD Venture Capital Investment Programme III
- CEECAT Fund II
- Mediterrania Capital IV
- Cogito Fund II SCA SICAR-RAIF
- Amethis MENA Fund II
- Alcazar Energy Partners II (AEP II)
- Practica Venture Capital III KŪB
- BlackPeak Southeast Europe Growth Equity Fund
- MidEuropa Fund VI
- Baring Vostok Private Equity Fund III, L.P.
- Mediterrania Capital Partners II
- 21 Concordia L.P.
- Genesis Private Equity Fund II
- Emerging Europe Convergence Fund II, L.P.
- Mediterra Capital Partners II L.P.
- Meridiam Infrastructure Europe II (SCA) SICAR
- 3TS Central European Fund III, L.P.
- Mid Europa Fund V
- Euroventures Hungary III, L.P.
- The Enterprise Expansion Fund SICAV-SIF
- Southeast Europe Equity Fund
- SPE Africa Industrialisation Fund I
- Central Poland Fund L.P.
- Argus Capital Partners II
- Southeast Europe Equity Fund II, L.P.
- Baltic Post Privatisation Fund
- Nova Polonia II LP
- Innovation Nest II
- Baring Vostok Fund IV Supplemental Fund L.P.
- Emerging Europe Capital Partners I
- EuroMerchant Balkan Fund
- Lorax Capital Partners Fund II
- Technology in Central and Eastern Europe S.C.A SICAR
- Amethis MENA Fund I
- Marathon Venture Capital Fund II
- Evolving Europe Principal Investments I
- Mediterra Capital Partners III LP
- Ezdehar Mid-Cap Fund II
- The Czech and Slovak Private Equity Fund
- 3TS TCEE Fond III
- Movens Fund 2
- Resource Eastern European Equity Partners I, LP
- Resource Eastern European Equity Partners II LP
- Bolshoy Fund
- Polish Enterprise Fund V
- V4C Eastern Europe II
- Black Sea Fund
- SigmaBleyzer Southeast European Fund IV, L.P.
- BPM Mezzanine Fund SICAV-SIF, SCA
- Diorama Investments Sicar, S.A.
- PineBridge New Europe Partners II, L.P.
- SouthBridge Europe Mezzanine GP, Sarl
Selected portfolio and direct investments
- Advans Tunisie S.A.
- Agua Services d’Assainissement
- Alumil Misr for Trade & Industry S.A.E
- Amen Bank Société anonyme
- AXIAN Telecom Holding and Management PLC
- Bank of Alexandria S.A.E
- Dandara Solar Power S.A.E.
- DeFacto Egypt for Trade L.L.C
- EFG Holding S.A.E.
- GB Logistics S.A.E.
- Hassan Allam Holding S.A.E.
- Hassan Allam Utilities
- Ibn Sina Pharma Company S.A.E.
- Kenya Commercial Bank Kenya (KCBK) Limited
- Nefer Menya for Renewable Energy S.A.E.
- Noble Eagle Industries Limited, Johnvents Foods Limited
- Orchidia Pharmaceutical Industries S.A.E.
- Paymob Solutions S.A.E
- Port Autonome de Cotonou
- Tunisie Telecom
- U Consumer Finance Company S.A.E.
- Union Bancaire pour le Commerce et l’Industrie
Recent investments and transactions
Sources
- Partner Researchers, accessed 14 November 2026
- Partner Researchers, accessed 14 November 2026
- https://techcabal.com/2026/08/26/ventures-platform-second-fund/, techcabal.com. Accessed 14 November 2026.
- https://www.ebrd.com/home/work-with-us/projects/psd/55839.project-summary-document.html#Project-overview, www.ebrd.com. Accessed 14 November 2026.
- https://www.mcapitalp.com/mediterrania-capital-partners-reaches-e600-million-final-close-of-its-fourth-fund-mediterrania-capital-iv-mid-cap/, www.mcapitalp.com. Accessed 14 November 2026.
- https://www.ebrd.com/home/news-and-events/news/2024/ebrd-commits-us-40-million-to-spe-pef-iii.html, www.ebrd.com. Accessed 14 November 2026.