The Government of Romania's Recovery Equity Fund (Recovery Equity Fund) has approved funding for five new investment funds in the fourth quarter of 2025.
Managed by the European Investment Fund (EIF), the Recovery Equity Fund finances funds investing in small and medium-sized enterprises, mid-cap companies and renewable energy projects. Once the investor approval procedures and contract negotiations have been finalized, the five funds, with different strategies, will contribute to the development of the investment ecosystem in Romania.
Thus, the Committee approved a significant allocation to Altamira I, a fund with a generalist strategy dedicated to growth companies. It is the first fund with institutional investors managed by a Romanian investor. The fund intends to invest mainly in Romania and Poland.
The contribution for CEECAT Capital III, which continues the strategy of the previous fund by investing venture capital in SMEs and mid-cap companies in Romania and the wider region, was also approved.
The committee also endorsed the participation in the Taaleri SolarWind III fund, which will invest for the first time in Romania, targeting renewable energy infrastructure projects such as photovoltaics, onshore wind and storage solutions. Contributions have also been approved for the Eleven IV and LAUNCHub III funds, both geared towards investments in technology start-ups, with Romania among the main target markets.
„With these new allocations we are strengthening Romania's role as a regional hub for investment in innovation, technology and green energy. The funds approved today will directly contribute to the modernization of the economy, supporting growing companies and projects with long-term strategic impact. We want to accelerate Romania's transformation into a competitive, resilient and forward-looking economy through digitalization and smart investments”, said Alina Gîrbea, Secretary of State in the Ministry of European Investments and Projects, which coordinates the Directorate General for Digitization, Regional Development and Innovation.
These approvals are an important step in the implementation of the risk capital initiative under the NRRP and support the achievement of the next relevant target in the plan. With the five recent contributions, the Committee has so far approved 18 allocations totaling €337.5 million. The funds have already invested around €120 million in some 20 Romanian companies. Over the entire investment cycle of each fund, estimated to be at least 10 years, total investments in the Romanian economy are expected to be at least 1.5 times the allocations.
The submission period for REF investment proposals ends on December 31, 2025.