EBRD targets Greek SMEs with latest investment

The €10m investment will go into the Southbridge Mezzanine European Fund which invests in both equity and mezzanine debt.

The European Board for Reconstruction and Development has invested €10 million in a fund operating with a mandate of investing in Greek small and medium-sized enterprises.

The investment in the Southbridge European Mezzanine fund, managed by the Luxembourg-based SouthBridge, was announced yesterday, 22 August, and is subject to regulatory approval. The fund provides both equity and mezzanine financing to SMEs based in Greece.

According to the EBRD, the investment will “contribute to an improved availability of growth capital to the underserved SME segment in Greece in an environment where little growth financing is available”.

A representative from Southbridge was not available to comment before press time. Established in 2014, the firm provides financing for lower-mid market companies in Greece and has attracted investments from the European Investment Fund.

Last month, the EBRD announced it was considering investing €40 million in Mezzanine Management’s soon to be launched fourth fund. Titled Accession Mezzanine Capital IV, the fund targets investments in the Central and Eastern European region and would be the third time the organisation has committed capital to a fund managed by Mezzanine Management.