Building Romania’s entrepreneurship ecosystem through equity financial instruments

This fi-compass case study explores the implementation of three equity financial instruments in Romania, each supported by different financing sources: the European Regional Development Fund (ERDF) 2014-2020 Regional Fund-of-Funds, the JEREMIE Romania Reflows Equity Instrument, and the Recovery Equity Fund of Funds (REF) using Recovery and Resilience Facility (RRF) resources.

Managed by the European Investment Fund (EIF), these instruments have contributed to strengthening Romania’s entrepreneurship ecosystem over the last decade. As market gaps in venture capital (VC) and private equity (PE) persist in Romania, the case study also provides an outlook on continued support with equity financial instruments with ERDF 2021-2027 resources.