The Fund of Funds went back to a two-tier form of governance.
Pursuant to a decision of the Council of Ministers to change the Articles of Association of the Company, on 16 November 2022, the Minister of Innovation and Growth, Alexander Pulev, appointed a Supervisory Board (SB) consisting of Ventsislav Avramov, Nikolay Genchev and Nikolay Markov, all of whom are leading experts in debt and equity management.
The current members of the Board of Directors Martin Gikov and Kamen Slavov were re-elected as members of the Management Board. They are joined by Pavel Lisev, who has extensive experience in structuring and managing large investment projects and private equity investments.
The appointments to the Fund's management and control bodies are effective until such time when a competitive recruitment procedure has been held.
Professional experience
Ventseslav Avramov
He has over 17 years of experience in audit, transaction consulting and private equity management. Representative of leading international investment funds for Bulgaria and the region. Since 2014 he has been a member of Management and Supervisory Boards of a range of companies in Bulgaria, Greece and North Macedonia. Partner in a real estate management company. He is a graduate of the American University in Blagoevgrad, holding degrees in Economics and Business Administration.
Nikolay Genchev
He has many years of experience in the consulting business and in all areas of finance. For nearly 20 years he has held senior management positions in management and supervisory bodies of financial institutions, as well as industry associations and non-profit organizations. A finance professional, with experience gained nationally and throughout the region. In addition to being an investor, Nikolay Genchev is a mentor to young entrepreneurs. He has significant experience in building successful, market trend setting teams, business restructuring and redevelopment, implementing significant strategic changes and structuring financial and investment products. His experience is mainly in the area of digital transformation in finance, including fintech and sponsoring proprietary innovation. Genchev holds an MBA from Sofia University. He has added a number of professional trainings and specialization courses to his qualifications, including at the Harvard Business School.
Nikolay Markov
He has over 20 years of experience, including in management, valuations, business modelling, financial and economic analysis, project finance, transactions, due diligence and regulatory compliance. He has worked with global auditor and other companies, for clients in Bulgaria, Europe, America and Asia. His portfolio includes a number of projects for financial institutions, incl. His portfolio includes a number of projects for the World Bank, EU-funded institutional funds, private European funds, European and Asian banks, and global fintech companies. He is a member of the board of the Chamber of Professional Appraisers in Bulgaria. He graduated in finance and bank management from the University of Piraeus in Greece. He is a Certified Financial Analyst (CFA) and an independent appraiser.
Pavel Lisev
He is a professional experienced in developing valuations, business models, marketing materials related to the structuring and management of large investment projects and private equity investments. He has been a financial analyst at a Swedish start-up, a senior investment banking expert at a pan-European financial institution, and a program coordinator for fintech start-ups. Most recently he was a senior manager at an international corporation involved in the implementation of innovative products and solutions in the digital and card payment area. Programme coordinator for pilot projects and technology innovations in digital transformation of financial services.
Mr Lisev holds a Master in Finance degree from Lund University of Economics and Management, Sweden.
