Bulgaria – Corporate finance and venture capital services – "Изпълнение на финансов инструмент „Фонд за стратегически технологии и отбрана“, финансиран със средства по Програма „Конкурентоспособност и иновации в предприятията“ 2021-2027"

Through this procedure, FMFIB entrusts the Financial Intermediary with the implementation of the financial instrument Strategic Technologies and Defence Fund (STDF). The Financial Intermediary shall prepare and carry out actions for the establishment of an Alternative Investment Fund (AIF) in a jurisdiction of its choice within the EU, in which investors, including FMFIB, will invest an amount to be invested through Eligible Instruments in Eligible Final Beneficiaries. An integral part of the service is also the implementation and management of the investment activity of the Fund. The Fund Manager will perform services, the scope of which is defined below, in compliance with the applicable Standards and their subsequent changes and updates: - Preparation and carrying out of actions for the establishment of an AIF in a jurisdiction of its choice in an EU country, in which Investors will invest; - Management of the established AIF; - Raising of commitments and funds from Independent Private Investors, at the Fund level and/or at the Final Beneficiary level, depending on the nature of their proposal; - Identification of Eligible Final Beneficiaries, analysis of the viability of the investment, as well as structuring, negotiating and disbursing financing from STDF in accordance with the concluded Operational Agreement; - Carrying out monitoring and control over the performance of the enterprises in which investment is made, including: assisting the Final Beneficiaries in their activities, making Follow-up Investments (if applicable), managing investments whose development is below expectations and others; - Achieving Exits from the made investments, in accordance with the Investment Strategy, the exit strategy, the Operational Agreement and the present Documentation; - Ensuring the relevant distributions to the Fund Manager and to the Investors; - Organising the liquidation of STDF after the expiry of its defined term, with the care of a good merchant (i.e. in an organised and responsible manner), in accordance with the requirements of the Operational Agreement. In addition, in the implementation of the financial instrument, the Fund Manager will: - Apply the rules of the chosen State aid or de minimis regime for each Equity and quasi-Equity investment, including the criteria for operator in market economy conditions, in accordance with Section 4.2 of the Notice, when applicable; - Apply the Eligibility Requirements to the Final Beneficiaries and investments; - Ensure timely and accurate reporting, in accordance with the requirements of the Operational Agreement; - Ensure compliance with other applicable conditions agreed in the Operational Agreement; - Ensure compliance with other acts applicable to EFSI at European and national level.