AIF Alpha Fund AD · Sofia, Bulgaria
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.
Fund Facts
AT A GLANCE
Legal name
AIF “Alpha Fund” Inc.
Fund 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
Shares
Ordinary · registered · transfer-restricted
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.
AIF Alpha Fund AD · Sofia, Bulgaria
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.
Fund Facts
AT A GLANCE
Legal name
AIF “Alpha Fund” Inc.
Fund 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
Shares
Ordinary · registered · transfer-restricted
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 capital position comprises paid-in capital of €16.27M, registered on 15 April 2025, a General Meeting authorisation for the Board to increase capital to ≈ €127.8M, and an immediate planned raise of €35M within that authorisation.
The Fund's capital position comprises paid-in capital of €16.27M, registered on 15 April 2025, a General Meeting authorisation for the Board to increase capital to ≈ €127.8M, and an immediate planned raise of €35M within that authorisation.
04
Governance
& structure
Governance
& structure
Governance & structure
The Fund is a closed-end joint-stock company with a one-tier Board of Directors of three to nine members, represented by its executive directors.
Its investment activity is managed by a registered manager of alternative investment funds (AIFM) below the thresholds of Art. 197(1) of the Collective Investment Schemes Act, entered in the register kept by the Financial Supervision Commission. Execution and safekeeping run through licensed investment intermediaries and depositary institutions; the governing agreements form part of the documentation set.
The Fund is a closed-end joint-stock company with a one-tier Board of Directors of three to nine members, represented by its executive directors.
Its investment activity is managed by a registered manager of alternative investment funds (AIFM) below the thresholds of Art. 197(1) of the Collective Investment Schemes Act, entered in the register kept by the Financial Supervision Commission. Execution and safekeeping run through licensed investment intermediaries and depositary institutions; the governing agreements form part of the documentation set.
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
Fund manager (AIFM)
Fund 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
Custody
Custody
Licensed investment intermediaries · depositary institutions
Licensed investment intermediaries · depositary institutions
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
Qualified investors & professional counterparties only
Republic of Bulgaria · Investor Information
Notes
Current paid-in capital BGN 31,819,862 (€16,269,237.10) per Commercial Register entry No. 20250415121452 of 15.04.2025. Increase authorization per the General Meeting resolution of 14.05.2024, empowering the Board of Directors to increase capital to BGN 250,000,000 (≈ €127.8M) within five years. Portfolio figures per company materials as of Q1 2026, subject to confirmation in due diligence.
Service providers engaged by the Fund are licensed and supervised by their respective competent authorities; their identities and regulatory registrations are provided through the documentation set.
Important information
This website is provided for information purposes only. It does not constitute, and may not be relied upon as, an offer to sell or a solicitation of an offer to buy any security or fund interest in any jurisdiction, nor investment, legal or tax advice. Access to fund documentation is restricted to qualified investors and professional counterparties.
Certain statements are forward-looking, including statements regarding planned capital raises, intended acquisitions and strategic initiatives. Such statements involve risks and uncertainties, and actual outcomes may differ materially. Past performance is not indicative of future results.
© 2026 AIF Alpha Fund AD. All rights reserved.
Last updated: June 2026
Investor relations · alphafund@aifbulgaria.com
Republic of Bulgaria · Investor Information
Notes
Current paid-in capital BGN 31,819,862 (€16,269,237.10) per Commercial Register entry No. 20250415121452 of 15.04.2025. Increase authorization per the General Meeting resolution of 14.05.2024, empowering the Board of Directors to increase capital to BGN 250,000,000 (≈ €127.8M) within five years. Portfolio figures per company materials as of Q1 2026, subject to confirmation in due diligence.
Service providers engaged by the Fund are licensed and supervised by their respective competent authorities; their identities and regulatory registrations are provided through the documentation set.
Important information
This website is provided for information purposes only. It does not constitute, and may not be relied upon as, an offer to sell or a solicitation of an offer to buy any security or fund interest in any jurisdiction, nor investment, legal or tax advice. Access to fund documentation is restricted to qualified investors and professional counterparties.
Certain statements are forward-looking, including statements regarding planned capital raises, intended acquisitions and strategic initiatives. Such statements involve risks and uncertainties, and actual outcomes may differ materially. Past performance is not indicative of future results.
© 2026 AIF Alpha Fund AD. All rights reserved.
Last updated: June 2026
Investor relations · alphafund@aifbulgaria.com
Republic of Bulgaria · Investor Information
Notes
Current paid-in capital BGN 31,819,862 (€16,269,237.10) per Commercial Register entry No. 20250415121452 of 15.04.2025. Increase authorization per the General Meeting resolution of 14.05.2024, empowering the Board of Directors to increase capital to BGN 250,000,000 (≈ €127.8M) within five years. Portfolio figures per company materials as of Q1 2026, subject to confirmation in due diligence.
Service providers engaged by the Fund are licensed and supervised by their respective competent authorities; their identities and regulatory registrations are provided through the documentation set.
Important information
This website is provided for information purposes only. It does not constitute, and may not be relied upon as, an offer to sell or a solicitation of an offer to buy any security or fund interest in any jurisdiction, nor investment, legal or tax advice. Access to fund documentation is restricted to qualified investors and professional counterparties.
Certain statements are forward-looking, including statements regarding planned capital raises, intended acquisitions and strategic initiatives. Such statements involve risks and uncertainties, and actual outcomes may differ materially. Past performance is not indicative of future results.
© 2026 AIF Alpha Fund AD. All rights reserved.
Last updated: June 2026
Investor relations · alphafund@aifbulgaria.com
Republic of Bulgaria · Investor Information
Notes
Current paid-in capital BGN 31,819,862 (€16,269,237.10) per Commercial Register entry No. 20250415121452 of 15.04.2025. Increase authorization per the General Meeting resolution of 14.05.2024, empowering the Board of Directors to increase capital to BGN 250,000,000 (≈ €127.8M) within five years. Portfolio figures per company materials as of Q1 2026, subject to confirmation in due diligence.
Service providers engaged by the Fund are licensed and supervised by their respective competent authorities; their identities and regulatory registrations are provided through the documentation set.
Important information
This website is provided for information purposes only. It does not constitute, and may not be relied upon as, an offer to sell or a solicitation of an offer to buy any security or fund interest in any jurisdiction, nor investment, legal or tax advice. Access to fund documentation is restricted to qualified investors and professional counterparties.
Certain statements are forward-looking, including statements regarding planned capital raises, intended acquisitions and strategic initiatives. Such statements involve risks and uncertainties, and actual outcomes may differ materially. Past performance is not indicative of future results.
© 2026 AIF Alpha Fund AD. All rights reserved.
Last updated: June 2026
Investor relations · alphafund@aifbulgaria.com