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Penta is opening a Venture Fund07. 10. 2009 | Penta is opening a Venture Fund
07. 10. 2009, Prague
Today Penta Investments is calling upon people with interesting business ideas. Business projects will be supported through a newly founded Venture Fund in which Penta has allocated EUR 300,000.
Projects should meet the following requirements. They should involve innovations and new ideas, and in the future they should be sustainable and self financed. The projects are expected to show potential for a wider positive impact, i.e. perspective technologies, environmental solutions, and social benefits. The minimal amount of financial support for an individual project is EUR 30,000.
"We want to support start-up entrepreneurs who have courage and new ideas, but who lack funding. Because we see enterprise as one of our main values, a Venture Fund is a genuine form of support. Beyond our financial support we will provide our know-how and experiences for promising projects," Jaroslav Haščák, Penta Managing Partner said.
The Venture fund is primarily aimed at perspective entrepreneurs in countries where Penta actively works - Czech Republic, Slovak Republic, and Poland. An investment committee composed of Penta personnel will choose from the received applications. Submitters of perspective projects will be consequently invited to advocate their projects.
Detailed information about the competition available at www.pentainvestments.com/venture-fund.html.
Penta is a Central European investment group established in 1994. It operates in the private equity and real estate sectors. In private equity, it manages an evergreen fund of its five partners, the company's only shareholders. Its portfolio companies provide jobs to more than 25,000 people and in 2008 reported consolidated revenues of EUR 1.9 billion. Penta invests mostly in the retail, health care, mechanical engineering, aerospace, energy, telecommunications and private banking sectors. Since 2005, Penta has started investments in the real estate and is currently executing 9 projects in Slovakia. It concentrates on office space, retail and leisure segments, as well as land development. Penta operates in more than ten countries of Europe and has offices in Prague, Bratislava, Warsaw, Limassol and Amsterdam.