Overview

Strategy

Capital

Governance

Documentation

English

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Overview

Strategy

Capital

Governance

Documentation

English

Request data room

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AIF Alpha Fund AD · Sofia, Bulgaria

Disciplined capital deployment across regulated finance and real assets.

Disciplined capital deployment across regulated finance and real assets.

A Bulgarian closed-end alternative investment fund providing diversified exposure across financial institutions, listed markets, corporate credit, real assets and technology — built for long-term value creation.

A Bulgarian closed-end alternative investment fund providing diversified exposure across financial institutions, listed markets, corporate credit, real assets and technology — built for long-term value creation.

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Where we invest

Fund Facts

AT A GLANCE

Legal name

AIF “Alpha Fund” Inc.

Asset Manager

"Salomon Mayer 1772" AD

Legal form

Joint-stock company (AD)

Jurisdiction

Republic of Bulgaria

Classification

Alternative investment fund

UIC

207733548

LEI

984500C10B5FV5EE1D82

Structure

Closed-end · shares not redeemable

Current capital

€16.27M

Authorized increase

€128.0M

Planned raise

€35.0M

Current capital BGN 31,819,862 (€16,269,237.10), fully paid, per Commercial Register entry No. 20250415121452 of 15.04.2025. Increase authorization per General Meeting resolution of 14.05.2024 (Board empowered to increase capital to BGN 250.0M ≈ €127.8M within five years). Figures as of Q1 2026.

€16.27M

€16.27M

Paid-in capital · Q1 2026

€35M

€35M

Planned near-term raise

€127.8M

€127.8M

Authorized ceiling

01

Overview

Overview

AIF Alpha Fund AD is a Bulgarian closed-end alternative investment fund structured as a joint-stock company and operating under Chapter 19 of the Collective Investment Schemes Act. Its mandate is diversified capital deployment: allocating across financial institutions, listed instruments, corporate credit, real estate and technology-driven sectors through equity, debt and alternative investments held within a single vehicle.

AIF Alpha Fund AD is a Bulgarian closed-end alternative investment fund structured as a joint-stock company and operating under Chapter 19 of the Collective Investment Schemes Act. Its mandate is diversified capital deployment: allocating across financial institutions, listed instruments, corporate credit, real estate and technology-driven sectors through equity, debt and alternative investments held within a single vehicle.

The strategy targets long-term growth of capital and income at a moderate-to-high risk profile, with authorized capital capacity in place to scale deployment as opportunities are originated.

Capital accumulation

Operates as an institutional capital accumulator, building the base for acquisitions and project deployment within its target sectors.

Asset-backed yield

Supports asset-backed and yield-generating strategies, balancing growth-oriented positions with income-bearing exposure.

Digital-finance optionality

Positioned to participate in future structures involving tokenized equity, funds and bonds as digital-asset markets mature.

02

Investment

Strategy

Investment

Strategy

Investment Strategy

Per its offering document, the Fund pursues long-term growth of capital and income by combining higher-risk listed exposure with balanced real-asset and credit positions, under a conglomerate sector-diversification approach and defined portfolio limits, summarized below.

Per its offering document, the Fund pursues long-term growth of capital and income by combining higher-risk listed exposure with balanced real-asset and credit positions, under a conglomerate sector-diversification approach and defined portfolio limits, summarized below.

Sector diversification
Offering doc
01

Financial sector — credit, insurance & financial institutions

02

Financial instruments

03

Real estate


04

High technology & innovation

05

Energy & ecology

06

Manufacturing

07

Commodities & raw materials

08

Transport

Current positioning

Per materials

Per materials

Instrument scope

Listed equity & ETFs · Private stakes · Debt financing · Real assets · Digital assets

Listed equity & ETFs · Private stakes · Debt financing · Real assets · Digital assets

Geographic scope

Global — Europe · USA · Asia · Africa · S. America

Global — Europe · USA · Asia · Africa · S. America

Corporate bond holdings

≈ €5.1M

≈ €5.1M

Orientation

Long-term capital growth · moderate-to-high risk

Long-term capital growth · moderate-to-high risk

Scope per the offering document of 14.07.2025; a dated portfolio schedule forms part of the due-diligence documentation set.

Portfolio limits

Per fund rules

Single listed issuer
Single listed issuer

≤ 33% of portfolio

≤ 33% of portfolio

Single trading venue
Single trading venue

≤ 70% of portfolio

≤ 70% of portfolio

Single sector
Single sector

≤ 50% of portfolio

≤ 50% of portfolio

Single geographic segment
Single geographic segment

≤ 85% of portfolio

≤ 85% of portfolio

Illiquid assets — high-risk book
Illiquid assets — high-risk book

≤ 50%

≤ 50%

Single-group issuer exposure
Single-group issuer exposure

≤ 20% of fund assets

≤ 20% of fund assets

Excluded instruments
Excluded instruments

Binary options · Repo transactions

Binary options · Repo transactions

Leverage
Leverage

Permitted, not required · capped per fund rules

Permitted, not required · capped per fund rules

Limits per the Fund’s risk-management rules (last amended 16.01.2024) and offering document; governing versions form part of the data room.

03

Capital
structure

Capital
structure

The Fund's stated capital position comprises current paid-in capital of €16.27M, a shareholder resolution authorizing an increase to €127.8M, and an immediate planned raise of €35M within that authorization.

The Fund's stated capital position comprises current paid-in capital of €16.27M, a shareholder resolution authorizing an increase to €127.8M, and an immediate planned raise of €35M within that authorization.

graphic showing paid in capital q1 2026 - 16.27M Euro, Plannednear time raise - 35M euro, remaining aithorized 76.53M euro
black and white image of a mountain
black and white image of a mountain

Board Members

Executive Director · Board member

Georgi Aleksandrov Kovachev

Executive Director · Board member

Rumen Yordanov Nanov

Board member

Vesislava Nikolaeva Agababyan

Legal identity & controls
Legal identity & controls
Register data
Legal form
Legal form

Joint-stock company (AD)

Joint-stock company (AD)

Regime
Regime

Closed-end AIF · Collective Investment Schemes Act, Ch. 19

Closed-end AIF · Collective Investment Schemes Act, Ch. 19

Registered office
Registered office

133 Vitosha Blvd., Triaditsa District, 1000 Sofia

133 Vitosha Blvd., Triaditsa District, 1000 Sofia

Incorporated
Incorporated

29 February 2024 · Status: Active

29 February 2024 · Status: Active

Asset manager (AIFM)
Asset manager (AIFM)

Salomon Mayer 1772 AD

Salomon Mayer 1772 AD

Manager registration
Manager registration

FSC Decision No. 732-AIFM · 30.05.2019

FSC Decision No. 732-AIFM · 30.05.2019

Statutory auditor
Statutory auditor

Registered auditor appointed by the General Meeting

Registered auditor appointed by the General Meeting

Capital authority
Capital authority

Board authorized to BGN 250.0M · GM 14.05.2024

Board authorized to BGN 250.0M · GM 14.05.2024

NAV determination
NAV determination

Semi-annual · within 10 business days

Semi-annual · within 10 business days

Valuation
Valuation

IFRS fair value · licensed appraisers for property

IFRS fair value · licensed appraisers for property

Lock-up
Lock-up

5 years from establishment (initial period)

5 years from establishment (initial period)

Counterparty disclosure
Counterparty disclosure

Data room · items D-01 to D-06

Data room · items D-01 to D-06

The fund manager is identified per its FSC registration; remaining provider identities are evidenced through documentation items D-04 and D-06.
The fund manager is identified per its FSC registration; remaining provider identities are evidenced through documentation items D-04 and D-06.

05

Investor
documentation

Investor
documentation

Investor documentation

The Fund maintains a documentation set for qualified counterparties conducting due diligence. Access is granted under confidentiality through the Fund's data room. Public corporate filings are listed separately on the Disclosures page.

The Fund maintains a documentation set for qualified counterparties conducting due diligence. Access is granted under confidentiality through the Fund's data room. Public corporate filings are listed separately on the Disclosures page.

D-01

Constitutional & corporate documents

D-04

Regulatory status & registrations

D-02

Capital resolutions & shareholder decisions

D-05

Portfolio & exposure schedules

D-03

Financial statements

D-06

Service-provider & custody agreements

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Qualified investors & professional counterparties only