13 Mar 2024

Gecić Law Supports Strategic EBRD and ENEF II Investment in Vega IT’s Expansion

Gecić Law proudly announces its pivotal role in supporting a significant financial transaction between the European Bank for Reconstruction and Development (EBRD), Enterprise Expansion Fund II (ENEF II) as lenders, and Vega IT.

The EBRD and ENEF II have committed to a senior secured loan to support the expansion of Vega IT.  Vega IT is a premier Serbian software development company.

As the local counsel for the EBRD and ENEF II in this transaction, Gecić Law provided comprehensive legal advice.   The team’s involvement spanned the due diligence preparation and negotiation.  We also secured the completion of critical finance and security documents and the successful closing of the transaction.  This partnership underscores Gecić Law’s commitment to facilitating economic growth and development within the Western Balkans through strategic legal guidance.

The loan agreement was officially signed during the official presentation of the ENEF II in Belgrade.  ENEF II is a fund to support the expansion of small and medium-sized enterprises (SMEs) in the region.  ENEF II, through its co-investment arrangement with the EBRD and funded by the European Union, CDP (Cassa Depositi e Prestiti), KfW (Kreditanstalt fur Wiederaufbau), and Banca Intesa, aims to finance SMEs, providing them with the capital and advising necessary for scaling their operations and achieving sustainable growth.

About Vega IT

Vega IT is at the forefront of digital product development, boasting a team of over 750 engineers and a diverse global client base of more than 200.  This financial injection from the EBRD and ENEF II will enable Vega IT to expand into new markets.  The transaction will help the firm open new business development offices and hire additional sales talent.  The deal further solidifies its position as a leader in the digital technology sector.

Gecić Law was proud to contribute to this transformative project.  The deal indeed reinforces our dedication to supporting our clients through legal excellence and strategic advice.  We consequently look forward to continuing our work to drive the economic development of the Western Balkans and contribute to the success of enterprises like Vega IT.