DGKV advised LaunchHub Advisors OOD and the European Investment Fund (EIF) on the structuring and negotiations for the setting up of two new seed stage venture capital funds to invest in early stage startups in Bulgaria and the wider Southeastern Europe region. The lead fund represented by LaunchHub Fund Coöperatief, U.A. will manage funds provided under the EU JEREMIE Initiative, while the second fund – Launch Hub Co-Invest KDA, will be one of the first funds in the country raising only private money. The newly established LAUNCHub Funds will have at its disposal a total of EUR 18 million to be relocated by the end of 2018.
DGKV’s work on the project included structuring of the funds, negotiating the principal terms and conditions for formation of a partnership for joint investments, private vehicle structuring, preparation of transaction and incorporation documents. The team has accrued significant experience after being instructed by the European Investment Bank to handle the negotiations over the operational agreement with the Republic of Bulgaria in connection with the management of JESSICA Holding Fund and the operational agreement with the financial intermediaries initiative as well as on the structuring of relationship between the management authorities of Republic of Bulgaria and the newly set up Funds of Funds entrusted with the management of all EU financial instruments resources to be made available to Republic Bulgaria during the 2014-2020 programing period.
DGKV’s team on this project lead by the Partner Georgi Tzvetkov and included Senior Associate Gergana Monovska and Associates Ivan Punev and Lora Aleksandrova.