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ROPEA Conference 2025 β Mobilizing Capital for Growth
πRadisson Blu, Bucharest | π 27 May 2025
The 2025 ROPEA Conference brought together over 100 participants from across the Romanian and European investment ecosystem to discuss how to better attract capital and scale the private equity and venture capital sector. The conference focused on fundraising strategies, LP expectations, local and regional investment models, and institutional investor engagement.
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Opening Session & Keynote Addresses
The conference was opened with welcome remarks by Daniela Iliescu, Executive Director of ROPEA and Andrei Gemeneanu, President of ROPEA and Managing Partner at Morphosis Capital.
This was followed by keynote addresses that highlighted the strategic importance of channeling long-term capital into the Romanian economy:
- Uli Grabenwarter, Director β Equity Investments, European Investment Fund (EIF)
- Gabriela Horga, Member of the Senate and Chair of the Budget, Finance, Banking and Capital Market Committee
- Alin AndrieΘ, State Secretary, Romanian Ministry of Finance
ROPEA pre-launched two new reports that will soon be available to the public:
π ROPEA 2024 Industry Report, developed in collaboration with Deloitte
π Romania Gender Diversity 2025 Report β Women in Private Equity and Venture Capital, developed with Level 20 Romania
Panel 1: Investing in Turbulent Times β Market Trends & LP Expectations
Moderator: Daniela Iliescu, Executive Director, ROPEA
Speakers:
- Cristian Nacu, Senior Country Officer for Romania, IFC
- Camelia DrΔgoi, Senior Mandate Manager, EIF
- Mugur Popescu, CIO, BCR Pensii
- Andrei Svoronos, Senior Banker, EBRD
- Iulian Portasa, CEO, Inspire AM
Topics covered:
- Romania is undercapitalized relative to its regional peers, and LPs still see the market as immature despite economic growth.
- Geopolitical risks and macro volatility make LPs more selective, increasing the pressure on Romanian funds to differentiate.
- LPs insist on predictable exits, strong governance, and alignment with international standards before committing capital.
Fireside Chat: Strategies for Attracting Institutional Investors
Speakers:
- Horia Manda, Managing Partner, Axxess Capital
- Jacek Siwicki, President, Enterprise Investors
Key takeaways:
- Fundraising is harder than ever, and Romaniaβs overreliance on external capital makes the ecosystem vulnerable in volatile times.
- Track record and reputation are key for managers raising capital in competitive environments.
- There is no alternative to consistency and transparencyβinvestors are seeking stable partnerships with long-term alignment.
Panel 2: Challenges & Lessons from Local Fundraising Efforts
Moderator: Rudolf Vizental, CEO, ROCA Investments; Board Member, ROPEA
Speakers:
- DragoΘ RoΘca, Partner, Boldmind Capital
- Cristian Munteanu, Partner, Early Game Ventures
- Dan MihΔescu, Founding Partner, GapMinder Ventures
- Gabriela Dumitru, Partner, Morphosis Capital
- Dan FΔrcΔΘanu, Managing Partner, Mosaik Investments
Discussion points:
- Local LPs are almost absentβmost funds rely on international capital, which may not fully understand regional specifics.
- DFIs play a critical role but cannot replace private LPs in scaling the industryβthere is a call for national strategies to grow local LP bases.
- Fund Managers stressed the need for cohesion and joint positioning when addressing international investors.
Panel 3: Private Equity and Pension Funds β A Success Story from Croatia
Moderator: Andrei Gemeneanu, Managing Partner, Morphosis Capital; President, ROPEA
Speakers:
- Igor Cicak, Founder, Provectus Capital Partners
- Kristijan Buk, President, Allianz ZB d.o.o.
Topics:
- Croatian pension funds are long-standing LPs in domestic PE funds, a major driver of local fund growth.
- The model works because of policy incentives, regulation stability, and a structured approach to risk/return management.
Romania can replicate this, but it requires political will, clear regulation, and proactive industry dialogue with pension fund managers.
Networking Lunch
Participants continued the conversation during a dedicated networking lunch, exchanging perspectives and ideas on further cooperation opportunities.
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