"I administrate the private equity fund, but CEFS is the institutional administrator", Pogonaru said.

Erste Bank contributed €10 million to the fund - called Romanian Equity Partners – whose plans are to reach €30 million worth of assets in its first phase.

"I have been working on the project of a Romanian-capital private equity fund for two years now. We want to invest in companies with solvent customers, doing business in Romania but also investing in the region, for instance in the Balkans", Pogonaru stated.

He added the fund targets reaching €100 million assets by the end of its second phase.

"The fund is registered in Holland and already has plans for three projects under way. The maximum amount of money we can invest in a single project is €4.5 million", Florin Pogonaru stated.

Florin Pogonaru also chairs the Association of Businesspeople in Romania (AOAR) and is a member of the BCR Supervisory Board.