Open call for expressions of interest in SID Kapital’s participation in alternative investment funds (AIFs)

The call is intended for managers of alternative investment funds or teams that manage or plan to establish an alternative investment fund domiciled in the European Union and wish SID Kapital to consider investing in that fund.

Funds or fund management companies in the process of being established may also be considered, provided the applicant clearly presents the proposed fund structure, investment strategy, management team, stage of preparation, indicative timeline and expected impact in Slovenia. 

The following AIFs will be considered under the open call:

• venture capital funds,
• technology transfer funds,
• private equity funds, including growth, ownership succession and restructuring strategies,
• funds focused on preparing companies to access capital markets,
• infrastructure funds,
• funds with other investment strategies, where these are consistent with SID Kapital’s purpose and guidelines and can demonstrate a clear contribution to development objectives or impact in Slovenia.

The expected impact in Slovenia is a key element of SID Kapital’s investment assessment. It is demonstrated in particular through investments in Slovenian companies, investments in companies with demonstrable long-term links to the Slovenian market, the presence or development of a management team in the Slovenian market, knowledge transfer, the involvement of private capital, the development of the local investment ecosystem, the retention or attraction of talent, or other measurable development impacts in Slovenia.

Each AIF in which SID Kapital invests must make investments in Slovenian companies or foreign companies with demonstrable long-term economic links to Slovenia in an amount at least equal to SID Kapital’s entire commitment to the AIF.

The total size of the open call is up to EUR 100 million, with individual commitments by SID Kapital to an AIF ranging from EUR 1 million to EUR 30 million. SID Kapital’s participation in an individual AIF may be up to 25% of the fund’s size, or up to 50% where specifically justified by the identified market gap and the expected impact in Slovenia. For technology transfer funds, this participation may be up to 70% where there is a significant market gap, a substantial expected impact in Slovenia and limited scope to raise capital from other investors.

Investments take into account the principle of acting on market terms, State aid rules, the involvement of private capital, professional and independent fund management, risk diversification, transparent reporting, and applicable legal, regulatory, tax, environmental and social requirements.

To submit an expression of interest, download and complete the form with basic information about the manager, the fund or proposed fund, the investment strategy, the expected commitment from SID Kapital and the expected impact in Slovenia.

Email the completed form to: opencall@sid-up.si

Please use the following email subject line: SID Kapital AIF – expression of interest – [manager / fund name]

Upon receipt of an expression of interest, SID UP records the investment opportunity and conducts an initial internal review to determine whether it is suitable to proceed to preliminary assessment. Acknowledgement of receipt of an expression of interest does not confirm that the documentation is complete, that the preliminary assessment is positive, that negotiations have commenced or that SID Kapital has committed to making an investment.

If SID UP considers an investment opportunity suitable for preliminary assessment, it may request additional information, documentation or completion of a preliminary questionnaire from the applicant. If the opportunity is not suitable for further assessment, the procedure may be concluded following the initial review. If the opportunity is suitable for further assessment, it proceeds to due diligence.

If SID UP considers that an individual investment opportunity may also be of interest to other potential investors, it may propose to the applicant that the opportunity be presented to those investors or that related information and documentation be shared with them. Any such disclosure may take place only with the applicant’s prior express consent and with appropriate arrangements for protecting confidential information. Any other potential investor considers and assesses the investment opportunity independently of SID UP and SID Kapital and decides, in its own name and for its own account, whether to invest and enter into contractual documentation with the manager.

The published call does not constitute a public procurement procedure, a binding offer, a prospectus, investment advice, an invitation to submit offers or a commitment by SID Kapital to make any investment.

Submission of an expression of interest, application, questionnaire or other documentation does not confer an entitlement to financing, the commencement of negotiations or a favourable assessment, nor does it create an obligation for SID Kapital to make an investment.