What stage does EBRD Venture Capital Investment Programme invest at?

EBRD Venture Capital Investment Programme invests at the Seed, Series A, Series B, Series C, Growth, Late Stage stages.

What is EBRD Venture Capital Investment Programme's typical check size?

EBRD Venture Capital Investment Programme typically writes checks of $2.2M – $27M.

Where is EBRD Venture Capital Investment Programme located?

EBRD Venture Capital Investment Programme is headquartered in London, GB.

EBRD Venture Capital Investment Programme

Government fund

London · Seed–Late Stage · 12 people tracked

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Investment thesis

The programme backs technology companies with development or engineering teams based in Central and Eastern Europe, the Middle East, North Africa, and Central Asia. It invests across early to late stages with ticket sizes ranging from EUR 2m to EUR 25m over the life of an investment. It targets teams ambitious to build world-class market leaders, leveraging the institution's direct technology experience, advisor networks, and balance-sheet strength to support portfolio growth. Since 2012 it has deployed two funds, with a third fund of USD 300m, supporting 43 companies across 36 countries and achieving 14 exits.

Invests inAgTech Consumer Data & Infrastructure Deep Tech Media & Entertainment Mobility & Transportation Retail Tech SaaS Sector AgnosticAsia-PacificEgyptEstoniaEuropeLondonMiddle East & North AfricaPolandTurkey

Source: firm website, verified Aug 3, 2026.

Stage

Seed–Late Stage

Check

$2.2M – $27M

London, GB

Instruments

Equity

Founded

2012

AUM

$270M

Tracked investments

Team · 12 people

from the firm's website & public directories

Ervin Luga· Head of Venture Capital Investments· London, England, United Kingdomin

Head of Venture Capital Investments at EBRD, previously leading the bank's risk management unit covering direct equity and venture capital. Began his career investing in equity and debt deals across sectors and holds BA degrees in Computer Science and Business Administration.

e•••@ebrd.comreveal

Amine Chabane· Principal, Venture Capital team· Londonin

Principal in EBRD's Venture Capital team, previously a VP at Arma Partners and earlier at PwC and RSM US in North America. Holds an MBA from INSEAD and a BBA from HEC Montreal.

a•••@ebrd.comreveal

Aziza Zakhidova· Senior member, Venture Capital team· Londonin

Senior member of EBRD's Venture Capital team, formerly a strategy consultant advising TMT clients in the US and an investment banker at UBS in London. Holds MSc degrees from Oxford's Said Business School and LSE and a BSc from Wharton.

a•••@ebrd.comreveal

Bruno Lusic· Senior member, Venture Capital team· Londonin

Senior member of EBRD's Venture Capital team, previously a Director at Ship2B Ventures and earlier at AnaCap in London, having started in investment banking at Nomura. Holds an MSc from Imperial College London.

Yalcin Gungoren· Senior member, Venture Capital team· Londonin

Senior member of EBRD's Venture Capital team, previously a Director at Arma Partners and earlier at Rothschild in London and Los Angeles. Holds an MBA from Chicago Booth and a BA from Koç University.

y•••@ebrd.comreveal

Eddie Anderson· External Advisor· United Kingdomin 𝕏

Founding partner of Pentech leading the firm's fundraising, with interests in machine learning, enterprise infrastructure, blockchain and SaaS business models. Previously co-founded and led Objective Software Technology to an exit to Wind River Systems, and holds a B.Sc in Applied Physics from the University of Strathclyde.

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Graham O'Keeffe· External Advisor· Greater London, England, United Kingdomin

External advisor to EBRD's Venture Capital team, Managing Partner at Joy Capital and Executive Chairman of DisplayLink, formerly a Partner at Atlas.

Marina Lirintzi· Investor, Venture Capital team· Londonin

Investor in EBRD's Venture Capital team, previously with EQT Life Sciences supporting science and technology founders. Holds a PhD in Genetics and an MPhil in Genomic Medicine from Cambridge.

Peter Hjelt· Advisor and Senior Banker at EBRD· United Kingdomin

Advisor to EBRD's Venture Capital team and a Senior Banker at EBRD, previously a Partner at UBS Capital, the private equity arm of UBS AG. Holds an MBA from the Stockholm School of Economics.

Shay Garvey· External Advisor· Irelandin

External advisor to EBRD's venture capital team and founder of Frontline Ventures, previously a Partner at Delta Partners and a consultant at McKinsey. Holds an MBA from Harvard Business School.

Marco Caputo· Investor, Venture Capital team· Londonin

Investor in EBRD's Venture Capital team, previously a strategy consultant at Oliver Wyman and EY-Parthenon focused on technology transactions. Holds an MSc from London Business School and a BSc from Bocconi.

m•••@ebrd.comreveal

Nikolay Silaev· Investor, Venture Capital team· Londonin

Investor in EBRD's Venture Capital team, formerly an investment banker at Credit Suisse and a private equity investor at a leading CEE technology fund. Holds an MBA from INSEAD, an MA from University of St. Gallen and is a CFA charterholder.

n•••@ebrd.comreveal

What they invest in

from 6 of 40 portfolio companies

AI & Machine Learning ×2B2B Marketplaces ×2Mobility & Transportation ×2Climate Tech ×1Creator Economy ×1EdTech ×1Fintech ×1GovTech ×1

HQs:United States×3Egypt×2Lithuania×1Türkiye×1

Investments · 40 tracked

founders shown can be your intro path

Martimarti.techinNYSE: MRT

Marti is a Turkish mobility platform offering ride hailing and shared micromobility services (e-mopeds, e-bikes, e-scooters) powered by proprietary software and IoT infrastructure.

B2B MarketplacesIoTMobility & TransportationIstanbul, TR

Alcatraz

Allset

Amenliamenli.comin 𝕏

An online insurance broker operating in Egypt that sells insurance policies to customers significantly faster than traditional insurers.

FintechInsurTechCairo, EG

Shady El Tohfa(Founder)inAdham Nauman(Founder)in

Axoflow

Basharsoftbasharsoft.com

BasharSoft builds employment marketplaces and ecosystems that connect job seekers with career opportunities and employers with talent, primarily serving emerging markets with a focus on Egypt.

B2B MarketplacesEdTechHR TechEgypt, EG

Binalyzebinalyze.comin 𝕏

Causalycausaly.comin

London

Artur Saudabayev(Executive Officer, Director)Georgios Tziralis(Director)Joannis Kiahopoulos(Executive Officer, Director)

BoardMarc Moens(Director)Carlos Gonzalez-Cadenas(Director)

Circeus

AI-native holding company that received backing from the EBRD

Craft

Depositphotosdepositphotos.comin 𝕏

DepositPhotos is a creative content platform offering over 332 million royalty-free images, videos, and music files, plus AI tools for generating and customizing visuals.

AI & Machine LearningCreator EconomyMarketplacesMedia & EntertainmentNew York, US

Dmitry Sergeev

Dgpays

Docplannerdocplanner.com

Explain Everything in 𝕏Dec 2016

New York, US

Reshan Richards(Director)Bartosz Gonczarek(President)Piotr Sliwinski(Director)

Goopti

Hazelcast

Infermedica

Manta

Miros

Modanisamodanisa.com

Nomagicnomagic.aiin 𝕏

Nomagic develops robots and automation systems to assist warehouse operators and managers with repetitive manual tasks.

AI & Machine LearningLogistics & Supply ChainRobotics

Kacper Nowicki(Founder & CEO)in

Obilet

Onedio

Pandadoc

Paymobpaymob.com

Photoneophotoneo.comin 𝕏

Picsart

Plum

Pollfish in

Wilmington, US

Ioannis Papadakis(Executive Officer, Director)

Remotepassremotepass.comin 𝕏

Saltz

Scalarr

Seetreeseetree.ai

End-to-end AI/ML and IoT platform using drone imagery to help farmers optimize management of permanent crops.

Shapr3D

Targetprocess

Trafitrafi.cominacquired by Enghouse Systems

Trafi develops a Mobility-as-a-Service (MaaS) platform that provides multi-modal journey planning and ticketing for cities across Europe.

Climate TechGovTechMobility & TransportationSaaS

AlgimantasJurgisMantasMartynas

Trendyol

Vidoc Security Lab

Webinar

Zoovuzoovu.comin

Exits · 2

IPOs and acquisitions across the tracked portfolio

MartiNYSE: MRTTrafiacq. by Enghouse Systems

Portfolio news

latest coverage across their companies

Marti spends $618K buying back shares as repurchase program runs to Oct. 26

Marti · stocktitan.net · Jun 29, 2026

Egypt's Amenli is the only African startup on the global top 50 insurtechs list

Amenli · insnerds.com · Oct 22, 2025

Frequently asked questions

What stage does EBRD Venture Capital Investment Programme invest at?: EBRD Venture Capital Investment Programme invests at the Seed, Series A, Series B, Series C, Growth, Late Stage stages.
What is EBRD Venture Capital Investment Programme's typical check size?: EBRD Venture Capital Investment Programme typically writes checks of $2.2M – $27M.
What sectors does EBRD Venture Capital Investment Programme focus on?: EBRD Venture Capital Investment Programme focuses on AgTech, Consumer, Data & Infrastructure, Deep Tech, Media & Entertainment, Mobility & Transportation, Retail Tech, SaaS, Sector Agnostic.
Where is EBRD Venture Capital Investment Programme located?: EBRD Venture Capital Investment Programme is headquartered in London, GB.

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