- Reference
- Not verified
- Implementing authority
- Fund Manager of Financial Instruments in Bulgaria (Fund of Funds)
- Programme
- PKIP 2021–2027 - Fund of Funds financial instrument
- Deadline
- 31 Dec 2029
- Days left
- 1153 days
- Total programme budget
- €32,170,000 sourcePublic resource; €36.08m in total with private co-investment.
- Per beneficiary
- Not verified
- Max. funding intensity
- Not verified
- Own contribution
- Not verified
- Funding type
- Equity
Total budget is not the amount one applicant can receive.
Overview
Equity and quasi-equity investment in early-stage innovative companies, managed by the Innovation Capital II consortium. Investment period to 31 December 2029.
Summary written by YARD Law (AI-assisted) from the official sources. Not an official text.
Status: Upcoming. The operational agreement with the Innovation Capital II consortium was signed on 2 April 2026 and the conditions for the fund's first closing are being met. We found no confirmation that the fund is investing yet. source
| Window | Opens | Deadline | Status |
|---|---|---|---|
| After the fund's first closing | - | 31 Dec 2029End of the investment period. source | Upcoming |
Who can apply?
0 of 11 conditions confirmed
Early-stage companies with innovative products (details not verified).
| Requirement | Our record | source |
|---|---|---|
| Bulgarian or EU legal entity | Not verified | |
| SME, micro or large-enterprise eligibility | Not verified | |
| Startup or established business | Not verified | |
| Minimum operating history | Not verified | |
| Minimum turnover | Not verified | |
| Eligible sectors and NACE codes | Not verified | |
| Geographic eligibility | Not verified | |
| Linked and partner enterprise rules | Not verified | |
| Financial standing and outstanding public debts | Not verified | |
| Consortium or partnership requirements | Not verified | |
| Other programme-specific restrictions | Not verified |
Eligible investments
0 eligible · 0 conditional · 11 not verified
| Investment | Status | Our record |
|---|---|---|
| AI software development | Not verified | Not yet verified from the call documents. |
| AI integration and automation | Not verified | Not yet verified from the call documents. |
| Commercial software and licences | Not verified | Not yet verified from the call documents. |
| GPU servers, computing equipment and storage | Not verified | Not yet verified from the call documents. |
| Data-centre infrastructure | Not verified | Not yet verified from the call documents. |
| Cloud subscriptions and computing services | Not verified | Not yet verified from the call documents. |
| Staff and R&D expenditure | Not verified | Not yet verified from the call documents. |
| Machinery and industrial equipment | Not verified | Not yet verified from the call documents. |
| Energy-efficiency systems | Not verified | Not yet verified from the call documents. |
| Consulting and other professional services | Not verified | Not yet verified from the call documents. |
| Construction or renovation | Not verified | Not yet verified from the call documents. |
Financial requirements
1 of 7 confirmed
| Minimum and maximum project value | Not verified |
|---|---|
| Grant percentage | Not verified |
| Required own contribution | Not verified |
| Advance payments | Not verified |
| Payment and reimbursement rules | Equity and quasi-equity, negotiated with the fund manager. source |
| State-aid limitations | Not verified |
| Eligible and ineligible costs | Not verified |
Application process
10 steps
A practical outline. The call documents prevail wherever they differ.
Check eligibility
Check the instrument's target stage and sector on the FMFIB page, then the fund manager's own investment criteria.
Gather supporting documents
Prepare a pitch deck, business plan, financial statements or projections and the current shareholder structure.
Prepare the proposal
Approach the selected fund manager directly. There is no ISUN application for equity instruments.
Prepare the budget
Prepare a financial model and the amount you are raising, with its use of funds.
Use the official channel
Apply through the fund manager's own intake. FMFIB lists the selected intermediaries.
Sign the documents
Investment documents are signed by the company's legal representatives. A capital increase or share transfer must also be registered in the Commercial Register.
Timing
Equity funds invest on a rolling basis during their investment period, so there is no call deadline. 31 Dec 2029.
Due diligence and decision
The fund manager runs due diligence and its investment committee decides.
Sign the investment agreement
The parties sign an investment or shareholders' agreement setting the terms.
Reporting
The fund becomes a shareholder: expect regular reporting and the governance rights agreed.
Required documents
list not extracted yet
No document list recorded yet.
Requirements are set by the fund manager.
Official sources
4 official links
- Official programme announcement
- Фонд Иновации в предприятията - ФМФИБ
- Application portal
- Not linked yet
- Guidelines for applicants
- Not linked yet
- Application templates
- Not linked yet
- Eligible-cost rules
- Not linked yet
- Official clarifications and amendments
- Not linked yet
- Managing authority contact
- ФМФИБ - Финансови посредници
Managing authority contact: Fund manager: Innovation Capital II consortium; FMFIB. fmfib.bg/posrednici
Questions and answers
4 questions
- Can a Bulgarian company apply for Innovation in Enterprises Fund?
- Yes, Innovation in Enterprises Fund is open to applicants from Bulgaria. Eligible applicants: Early-stage companies with innovative products (details not verified). Bulgaria.
- What is the deadline for Innovation in Enterprises Fund?
- The next window for Innovation in Enterprises Fund is upcoming and closes on 31 Dec 2029. Checked on 3 Nov 2026.
- How much funding can one company get from Innovation in Enterprises Fund?
- The amount per company under Innovation in Enterprises Fund is not verified. The total budget of €32.2m is the whole programme envelope, not the amount one company can get.
- How do I apply for Innovation in Enterprises Fund?
- There is no application deadline or ISUN form: companies approach the selected fund manager directly with a pitch deck and business plan. Official announcement: https://www.fmfib.bg/bg/fi/21/26
Summary written by YARD Law (AI-assisted) from the official sources. Not an official text.
Record history
Research draft · Last checked: 3 Nov 2026 · Automated check · 4 Nov 2026 · source unchanged
No changes recorded since this record was created.
Bulgaria Funding Intelligence is an information service of YARD Law Co. It is not legal advice and not an official source. YARD Law does not administer public funds and has no official affiliation with any funding authority.