On Monday, 29 November 2010, the Slovenian Minister of Economy Darja Radič signed a contract pledging a capital investment in the venture capital fund Prvi sklad. By investing 9 million EUR, the Republic of Slovenia has gained a 49% share in the fund, and Prvi sklad has increased its investment capacity to 18.5 million EUR.
The state will gain a seat on the supervisory board of Prvi sklad.
Its representative will also be on the investment committee, an
independent body providing a more objective and independent operation of
RSG Capital and Prvi sklad.
With the aim of further developing
the venture capital market in Slovenia, the government decided to
establish a holding fund (a so-called fund of funds) at the end of last
year, and initiated cooperation with private investors by issuing a
public tender for capital investments in March 2010. 35 million EUR were
made available to private venture capital investors (currently 7.2
million EUR). Aside from meeting the criteria of the tender, private
investors had to provide the same amount of private capital as they
wanted to receive from the State, in order to gain capital from the
fund. Prvi sklad was the first Slovenian venture capital fund to sign
the contract with the state, and by having thus increased its investment
capacity, it continues to be the biggest venture capital fund in
Slovenia.
Prvi sklad will keep to its investment strategy and
continue to invest in high-tech companies in the early stages of
development, with investments ranging between 0.5 and 1.5 million EUR in
size. Prvi sklad does not, however, specialize in any particular
industry. Its investment focus is on Central and South-East Europe.