Serbia Ventures – a new program of the Innovation Fund

The program is designed to encourage private investors, high net worth individuals and institutions to engage in financing startups with high growth potential by establishing venture capital funds in Serbia.

Through the Serbia Ventures program, the Innovation Fund will invest in newly established venture capital funds in Serbia in the role of a limited partner and help these funds to create a significant market effect on the innovation ecosystem in Serbia.

The applicant may receive funds from the Fund only after it becomes fully registered and licensed by the Securities Commission of the Republic of Serbia and APR as a legal entity registered separately for the management of alternative investment funds (alternative investment fund management company) and then registers the Entrepreneurial Capital Fund (alternative investment fund) in Serbia and obtains the appropriate license in accordance with the requirements prescribed by the Securities Commission of the Republic of Serbia and other applicable legal requirements.

Funding amount:
  • Up to EUR 5,000,000 per individual venture capital fund, with the mandatory precondition that the selected venture capital fund has already raised or obtained the intentions of its limited partners / investors to raise at least the same amount of capital within 12 months of the first closing round of financing
Eligibility conditions:
  • Limited liability company duly established in Serbia and registered in APR, mostly privately owned

What is important to note is that applications can come from any field of science and technology and can belong to any industrial sector. The duration of the investment of the Innovation Fund is not predetermined – it will be directly agreed between the Fund and the recipient of funding, and can in principle range between 96 and 144 months.

All additional information related to the applications themselves, as well as the necessary documentation, can be found at this link.