The main goal of the meeting was to summarize the development of the already signed transactions as well as the pipeline of potential projects. Besides that, the Advisory Board discussed the Fund´s current status in general and the plans for the continuation of this initiative in the following years. Such discussion is highly relevant as the CEFoF is one of the first equity financial instruments implemented in the Czech Republic through the NRB. “At the end of 2021, the total value of the Fund was higher than financial resources already contributed by investors. We can conclude that economic rationality of the Fund is obvious,” said Pavel Křivonožka, Member of the Board of Directors of the NRB, in his introductory speech.
According to the first quarterly report (1Q/2022), 35 companies and 9 funds were supported so far. “The Fund is very beneficial for the Czech Republic, due to the fact that the CEFoF has already invested in 3 Czech venture capital and private equity funds (Enern, Genesis, Espira) and 13 companies based in Czechia. This represents the biggest part of the support among all participating countries, with more than one third of the total volume of the Fund being invested in Czechia”, confirms Martin Potůček, Chairman of the Board of Directors of the National Development Investments, the subsidiary company of the NRB dealing with equity investments.
The NDB stands ready to be actively involved in further continuation of this initiative, in case the Czech Government approves the country´s participation in the CEFoF II. Mr Pavel Košina (EIF) serving as the Chairman of the Advisory Board and moderating the Prague discussion, warmly welcomed this position of the NRB.
For more detailed information about the CEFoF see its official page on the European Investment Fund website.