28.03.2025.
To enable better access to capital for entrepreneurs and encourage the development of alternative sources of finance, HBOR has launched the Alternative Investment Funds Investment Programme.
HBOR has provided its own funds for the implementation of the Programme, which it invests in its own name and for its own account.
HBOR’s investments will be made exclusively through financial intermediaries, i.e. alternative investment funds (hereinafter referred to as: AIFs) that will be selected under the Call for the Selection of Financial Intermediaries.
Each AIF, in which HBOR will invest, must meet the basic investment conditions, whereby HBOR’s commitment to make a payment into such an AIF may amount to between 7.5% and 25% of the total size of the AIF, but not more than EUR 25 million in an absolute amount. If the AIF, in addition to the basic ones, also meets certain additional conditions, HBOR’s share may be increased to up to 50% of the total size of the AIF. The largest possible share of HBOR’s investment is planned for technology transfer funds, where it can amount to up to 70% of the total size of the AIF.
👉 More details on the terms and conditions of HBOR’s investment in alternative investment funds can be found in the Programme.
Investment strategy of each AIF, in which HBOR will invest, must include investments in Final Beneficiaries who, at the time the AIF makes an investment in them, are established in the Republic of Croatia and conduct the majority of their business in the Republic of Croatia or will start long-term business in the Republic of Croatia through investing. The amount of investment in such Final Beneficiaries must meet one of the following two criteria:
More detailed guidelines on the content of Investment Opportunity form can be found in Schedule 2.
Together with the description of Investment Opportunity, the teams should submit a completed and signed Application Form (Schedule 1).
An Investment Opportunity form can be submitted in Croatian or English.
Teams can submit their Investment Opportunity forms to the following email address: equity@hbor.hr.
👉 More information on investment terms and conditions and selection criteria can be found in the Call.
To enable better access to capital for entrepreneurs and encourage the development of alternative sources of finance, HBOR has launched the Alternative Investment Funds Investment Programme.
HBOR has provided its own funds for the implementation of the Programme, which it invests in its own name and for its own account.
HBOR’s investments will be made exclusively through financial intermediaries, i.e. alternative investment funds (hereinafter referred to as: AIFs) that will be selected under the Call for the Selection of Financial Intermediaries.
HBOR’s Investment Amount
HBOR’s investment amount in an AIF is limited to a maximum of EUR 25 million.Each AIF, in which HBOR will invest, must meet the basic investment conditions, whereby HBOR’s commitment to make a payment into such an AIF may amount to between 7.5% and 25% of the total size of the AIF, but not more than EUR 25 million in an absolute amount. If the AIF, in addition to the basic ones, also meets certain additional conditions, HBOR’s share may be increased to up to 50% of the total size of the AIF. The largest possible share of HBOR’s investment is planned for technology transfer funds, where it can amount to up to 70% of the total size of the AIF.
👉 More details on the terms and conditions of HBOR’s investment in alternative investment funds can be found in the Programme.
For whom are the funds intended?
The Programme is aimed at financing innovative projects of start-ups, SMEs and Mid-Cap companies with high growth potential. The emphasis is on investments that contribute to economic and social development in line with the goals of sustainability and the promotion of balanced and sustainable regional development of the Republic of Croatia.Investment strategy of each AIF, in which HBOR will invest, must include investments in Final Beneficiaries who, at the time the AIF makes an investment in them, are established in the Republic of Croatia and conduct the majority of their business in the Republic of Croatia or will start long-term business in the Republic of Croatia through investing. The amount of investment in such Final Beneficiaries must meet one of the following two criteria:
- At least 70% of the total size of the AIF, or
- At least double the amount of HBOR’s payment commitment to the AIF (for every euro of HBOR’s payment commitment, the AIF must invest an additional minimum of one euro).
application method
Teams decide on the method of presenting their Investment Opportunity forms independently. Although the content is not strictly defined, a description of Investment Opportunity should contain key information about the market, investment strategy, management company and other relevant aspects of importance for making an investment decision.More detailed guidelines on the content of Investment Opportunity form can be found in Schedule 2.
Together with the description of Investment Opportunity, the teams should submit a completed and signed Application Form (Schedule 1).
An Investment Opportunity form can be submitted in Croatian or English.
Teams can submit their Investment Opportunity forms to the following email address: equity@hbor.hr.
👉 More information on investment terms and conditions and selection criteria can be found in the Call.