The Fund Manager of Financial Instruments extended the market test procedure for its Technology Transfer Fund

The Fund Manager of Financial Instruments Bulgaria (FMFIB) extended the market test procedure for its Technology Transfer Fund until 10 March’17, due to the high interest towards the financial instrument. Please recall that the government-set FMFIB announced the market test for the considered fund in end-2016. The fund would have EUR 30m contribution from OPIC with a requirement for at least 10% additional private investors participation for small R&D companies and 30% for large ones. The Technology Transfer Fund would provide financing to already existing firms or R&D spin-offs with proven concept and business strategy, where the maximum amount, which would be investable in a single entity is EUR 9.7m. Eligible investments would include IT, pharmaceutical and biotechnologies, mechatronics, nanotechnology, and other creative industries and technologies. The procedure for selection of fund manager(s) will follow after the extended deadline.