The West Regional Development Agency has launched its second regional venture capital fund, a $44 million instrument designed to support high-growth companies in Romania’s West region through the Regional Program West, marking a new phase in strengthening access to smart financing for innovative businesses.
Investment Structure and Management
The agency signed the fund’s management contract with a consortium led by Aster Capital Invest, a France-based firm with significant experience in European venture financing. Local partners Iceberg Plus and Venture Booster will support the implementation and operational management of the fund. The partnership combines international venture capital expertise with regional market knowledge to ensure effective capital deployment.
The fund totals approximately $44 million, with around $31 million allocated through the Regional Program West and roughly $13 million contributed from private sources, based on the February 9, 2026 exchange rate. This blended financing model reinforces collaboration between public and private stakeholders. The structure is designed to mobilize additional resources while ensuring professional and disciplined investment management.
Target Companies and Funding Scope
The instrument will focus on small and medium-sized enterprises that are already operating in the market and have validated business models. These companies must demonstrate strong growth and scaling potential but may face barriers in accessing traditional financing channels. At least 18 businesses from the region are expected to receive investments ranging from approximately $595,000 to $4.76 million, structured across one or more funding rounds.
Beyond capital injection, selected companies will receive strategic advisory support aimed at accelerating expansion into external markets. The combination of funding and expertise is intended to strengthen competitiveness and long-term sustainability. This approach reflects a broader shift toward intelligent capital deployment rather than purely financial assistance.
Completing the Regional Innovation Ecosystem
The venture capital fund complements the Business Acceleration Financial Instrument previously launched by ADR Vest, which supports entrepreneurs from the idea stage. Together, the two mechanisms create a comprehensive financing pathway that covers the full lifecycle of an innovative company. From early concept validation to scale-up and maturity, the region now offers structured financial support across development stages.
Sorin Maxim, Director General of ADR Vest, described venture capital financing as a natural step in the maturation of the regional entrepreneurial ecosystem. He emphasized that venture capital brings not only capital but also know-how, mentorship, and active involvement in company development. According to Maxim, modern financing instruments are essential for supporting companies capable of competing internationally and reaching significant valuation milestones.
The creation of the $44 million venture capital fund represents a strategic investment in the long-term competitiveness of Western Romania. By blending public and private capital and integrating advisory support, ADR Vest is reinforcing the region’s capacity to nurture scalable and innovative enterprises. The initiative underscores a clear ambition to build globally competitive companies and position the region as a strong contributor to Europe’s innovation economy.