BSTDB Invests in SMERemediumCap II Fund
Unlocking growth, accelerating sector consolidation and fostering resilience of Greek small and mid-market corporates
The Black Sea Trade and Development Bank (BSTDB) has committed EUR 10 million to the SMERemediumCap II Fund (“SMERCap II” or “the Fund”), a private equity fund established to boost the growth and competitiveness of Greek small and medium-sized enterprises (SMEs).
BSTDB invests alongside the EBRD, Hellenic Development Bank of Investments, Greek banks and other prominent corporate and individual investors.
Established in Luxembourg, SMERemediumCap II will support Greek SMEs and help them gain access to type and structure of finance they need, promote development of real economy, support regional trade and investment, including cross border investments in the neighboring countries.
The Fund will promote green initiatives, digitalization, inclusivity, increase resource efficiency and enhance resilience. Sustainability and ESG policies are an integral part of its business model. The Fund will ensure investing in a socially responsible way, facilitating green economy transition and supporting social equality.
Building on the successful performance and solid corporate turnaround and consolidation track record of SMERemediumCap I, the Fund, will contribute to the availability of private equity capital to small and medium sized enterprises in various sectors including light manufacturing, food and beverage, health, hospitality, and business services, to implement their development and investment plans, scale operations and consolidate their international presence.
BSTDB President Dr. Serhat Köksal stated: “BSTDB investment in SMERemediumCap Fund fits well a number of strategic priorities of BSTDB to support resilience, competitiveness, and institutional capacity of Greek SMEs, facilitate new employment, promote cooperation among BSTDB countries, and prioritize climate financing. Our funds will create added value for the real Greek economy and local communities, while also fostering opportunities for additional bilateral investments in Greece and BSTDB member-countries, fully aligned with the Bank’s core mandate.”
The executive chairman of SMERemediumCap Mr. Nikolaos Karamouzis stated the following: “We are pleased and grateful to the Board of Directors and the Management Team of the Black Sea Trade and Development Bank (BSTDB) for their trust and equity participation in SMERemediumCap II, a private equity fund focused on actively investing in the Greek SME sector, supporting growth prospects and transformative initiatives. BSTDB's support and strong institutional reputation have clearly accelerated our fundraising efforts.”
The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. The BSTDB headquarters are in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is EUR 3.45 billion. For information on BSTDB, visit www.bstdb.org.
Contact: Haroula Christodoulou
