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, participates in the implementation of ECFs’ activities together with private investors. 5 ECFs have been established altogether and only Prosperus FGS II is still active.


ECFs have finished their investment phase and further investments are not expected. ECFs’ Quaestus Private Equity Kapital II, Inspirio FGS and Prosperus FGS are in a process of liquidation, and Honestas FGS is closed.

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:


Or one of the ECFs management companies:
FIMA INVEST d.o.o., Gradišćanska ulica 34, Zagreb, e-mail:,
PROSPERUS-INVEST d.o.o., Ulica grada Vukovara 269 G, Zagreb, e-mail:,
QUAESTUS PRIVATE EQUITY d.o.o., Ulica grada Vukovara 269 D, Zagreb, e-mail:,
Inspire Investments d.o.o., Ulica Andrije Hebranga 34, Zagreb, e-mail:,