Bayena Ventures AD was given the contract to implement the Entrepreneurship Growth Fund by the Fund Manager of Financial Instruments in Bulgaria (FMFIB), which is a major step to support corporate financing and venture capital development. Part of the Competitiveness and Innovation in Enterprises Program 2021-2027, the decision was formally announced on September 18, 2025, and involves EUR 40 million in public funds.
Details and Scope of the Contract
The granted contract, which focuses on the creation and administration of an Alternative Investment Fund (AIF), is classified as corporate finance and venture capital services (CPV 66122000). As the financial intermediary, Bayena Ventures AD will be in charge of creating and carrying out investment plans to transfer money to final beneficiaries via suitable instruments. The contract, which is part of the larger EUR 40 million fund, is scheduled for 156 months and is anticipated to be worth EUR 6 million (VAT excluded) for the intermediary services.
Organisations Taking Part
A negotiated procurement process with prior publication was carried out by the procuring body, the FMFIB, a public law organisation devoted to economic matters. A competitive review based on experience, managerial strategy, and financial analysis precedes the award. Ten electronic tenders were submitted for the contract, and the highest-ranked bidder was Bayena Ventures AD. Aspects of evaluation and compliance were supervised by the Competition Protection Commission.
Importance of the Agreement
By offering early-stage and growth-orientated businesses structured financial support, this programme seeks to improve Bulgaria's entrepreneurial ecosystem. Along with the Early Stage Fund and Venture Capital Fund, the Entrepreneurship Growth Fund is a component of a three-fund system that aims to boost innovation, encourage investment, and increase the nation's competitiveness in the corporate finance and venture capital industries.
Technical Specifications and Contract Implementation
The agreement states that Bayena Ventures will create an AIF in a jurisdiction of its choosing while guaranteeing adherence to EU Green Public Procurement standards. Three indicators – experience, management plan, and financial assessment – were given a maximum of 100 points each as part of the evaluation approach, which used a quality-price ratio.
Conclusion
In Bulgaria's continuous efforts to improve its entrepreneurial financial environment, the contract award is a calculated move. The fund is anticipated to boost investor trust, assist creative businesses nationwide, and maybe open the door for further fundraising rounds under the Competitiveness and Innovation in Enterprises Program 2021-2027 as Bayena Ventures gets started.
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# Bulgaria, #Bayena Ventures AD, #Entrepreneurship Growth Fund, #corporate finance, #venture capital, #government contracts, #public procurement, #EU funds, #awarded tenders, #FMFIB, #business news, #investment funds
