Fund profile / Croatia

Croatian Growth Investment Programme

Geography: Croatia
Stage: Growth
Fund size: €100M
Focus
Signals: Published

N°01 / About

About Croatian Growth Investment Programme

Fund-of-funds established by the European Investment Fund and HBOR, each committing EUR 50M, to back growth and expansion equity funds investing in Croatian SMEs and mid-caps. Launched at EUR 70M in 2019, raised to EUR 80M in 2020 and to EUR 100M in 2021 to add a technology-transfer fund. A second programme, CROGIP II, adds EUR 52M financed through the Recovery and Resilience Facility.

N°02 / Thesis

Investment Focus

Location / RegionCroatia

Funding StageGrowth

Industry Focus

Investor Signals Profile

active

Sweet Spot

Croatian growth SME/mid-cap or university deep-tech spinout

growth & expansion equity

SME & mid-cap Croatia

deep tech / tech transfer

mezzanine & quasi-equity

EIF-backed fund-of-funds

university spinouts commercialization

Bullish Signals

EUR 100M CROGIP programme fully committedexternal

EIF + HBOR + SID Bank trilateral platformexternal

Four funds selected and deployingexternal

Tech transfer fund adds EUR 40M regionallyexternal

Adriatic Structured Equity + Prosperus + Mezz funds activeexternal

EUR 15M minimum Croatia university/research deploymentexternal

Contrarian Signals

No early-stage startups outside tech transferexternal

Croatia-concentration limits diversificationexternal

No FinServices or Real Estate allowedexternal

Founder Do's

Be Croatian-established, majority ops in Croatia

Show growth/expansion stage traction

University spinouts welcome (Seed–Later Venture)

Target 70%+ Croatian portfolio deployment

Prove strong employee base in Croatia

Aim for SME/Mid-cap (up to 3,000 employees)

Tech transfer: PoC or early-stage university research

Founder Don'ts

No early-stage startups (except tech transfer fund)

No financial services or real estate

No non-Croatian majority operations

21 signals on Croatian Growth Investment Programme

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Facts

Fund Overview

Fund Size€100M

Saves0

Website

People

Key People

Tomislav TičićContact – Prosperus Growth Fund

Vesna Deep Tech VCFund Manager – Tech Transfer

Backers

Known LPs

European Investment Fund (EIF)Fund-of-Funds

HBOR (Croatian Bank for Reconstruction and Development)Public / State institution

N°04 / See also

Related Funds

Croatian Venture Capital Initiative (CVCi)

Fund size€80M

Location: Croatia
Stage: Seed
Focus

Seed

Provectus Capital Partners SEE Fund II

Fund size€162.5M

Location: Croatia
Stage: Growth
Focus: Digital Health, Consumer Commerce
Manager: Igor Čičak

Growth

Digital Health

Consumer Commerce

PCP SEE Fund II

Fund size€163M

Location: Croatia
Stage: Series B
Focus: Enterprise Software, Digital Health, Consumer Commerce
Manager: Igor Čičak

Series B

Enterprise Software

Digital Health

Consumer Commerce