Dimitrov, Petrov & Co has advised Neveq Management OOD on the registration of the company as an Alternative Investment Fund Manager.
According to DPC, the procedure is part of the realization of Neveq’s investment plans in the field of innovation and improvement of the entrepreneurial ecosystem in Bulgaria.
As a result of its registration, DPC reports, Neveq was awarded a public procurement contract by the Fund Manager of Financial Instrument in Bulgaria as a contracting authority. The project provides the establishment of an alternative investment fund (AIF) by Neveq and obtaining the necessary registration as an Alternative Investment Fund Manager (AIFM) before the Financial Supervision Commission.
Neveq will be managing funds in the amount of over BGN 50 million intended for supporting innovative start-up companies. The public funds amounting to over BGN 37 million are allocated as part of an acceleration and start-up fund — a type of a financial instrument for equity and quasi-equity investments and the remaining funds will be provided by private investors.
In addition, Neveq assigned DPC the legal work related to the structuring of the AIF in Bulgaria.
The Dimitrov, Petrov & Co. team consisted of Attorneys Bogdan Petrov and Dimitar Karabelov.