"We are planning to establish an investment fund in Georgia", - Davit Tsirdava, the first vice-president of the "Business Chamber of Asia and Persian Gulf Countries" (BCAGC), told TV -program Business Course.
According to him, they are working with the National Bank to obtain the necessary license for the fund's activities at this stage.
"We have already started the process for the registration of the Investment Fund. The "Europe-Asia Investment Fund" will have up to 20 investors and will start operating with a capital of USD 50 million at the initial stage. This will be an open fund and will be one of the important steps for the Georgian economy. We have very good communication with the National Bank and our team is actively working on the preparation of the necessary documentation. We think that the registration of the fund will be completed at the end of February or at the beginning of March," says Davit Tsirdava.
According to the first vice-president of BCAGC, the fund wants to invest in renewable energy, development and hospitality sectors.
In the last 10 months, the number of investment funds has increased from 5 to 12.
The total amount of assets under management of the existing 12 investment funds is not yet known. According to the NBG, the updated information for 2023 will be available at the end of February 2024.
As for the data of 2022, the total volume of assets under the management of Investment Funds amounted to GEL 92 million.
