HBOR Economic Co-operation Funds (ECFs)
ECFs are open-ended alternative investment funds with private offering that are established and operate in accordance with the Alternative Investment Funds Act. The aim of their establishment is to promote the development of the economy, to preserve the current and create new jobs, to strengthen the existing and start-up new business entities by means of ownership restructuring through the investment of additional capital.

HBOR, as a qualified investor appointed by the Government of the Republic of Croatia, participated in the implementation of ECFs’ activities together with private investors. 5 ECFs have been established. ECFs’ Quaestus Private Equity Kapital II, Inspirio FGS, Honestas FGS and Prosperus FGS II are closed. Prosperus FGS is in a process of liquidation.

To whom the funds were intended?

Companies having their headquarters in the Republic of Croatia that are active exclusively or predominantly in the Republic of Croatia and having:
• products and services with high growth potential
• advantage over their competitors
• good management
• sound and transparent operation and sound business plan
• acceptable rate of return on funds invested by ECFs


For additional information, please contact: HBOR, Strossmayerov trg 9, Zagreb, e-mail: