Terra Adriatica estimates that at least 10% of all Croatian land lies economically dormant due to the complexity, and therefore cost, of establishing legal title.
This issue represents lost opportunity measured in the tens of billions of Euros for the country. It impacts not only the owners of affected land but also local communities missing out on the economic activity that its legitimate use would bring.
FEELSGOOD CAPITAL PARTNERS, creators of Croatia’s first-ever social impact fund, have agreed in principle to partner with Terra Adriatica to solve this long-standing issue by providing initial funding for a pilot project expected to unlock the latent value held within 300-500 hectares of land. The funding is subject to finalization of the fund’s authorization process and completion of due diligence of the project.
This first project represents the culmination of five years’ work by Terra Adriatica researching and developing Artificial Intelligence technology and process-led solutions to the problem. In just a few months since launch last September, the Company has identified potential claims on behalf of thousands of registered users to almost half a million hectares cumulatively.
The investment from FEELSGOOD CAPITAL PARTNERS would fund the cost of cleaning and selling land selected for the Pilot Project – at no upfront cost, or risk to the sellers, who will receive 90% of the net proceeds.
Davor Lauc, Co-Founder and Chief Science Officer at Terra Adriatica, said,
“The solution to the highly complex issue of “locked land necessitates a multi-dimensional approach. We combine advanced technology, automated processes and, crucially, a financial framework designed to appeal to an investor community looking for sustainable, asset-backed yields to fund the process. We are delighted to welcome FEELSGOOD CAPITAL PARTNERS onboard and look forward to delivering the first of many projects to return Croatian land to productivity.”
Dinko Novoselec, Co-Founder of FEELSGOOD CAPITAL PARTNERS, said,
“It is not often that you come across a project of such scale that also has the potential to impact local communities so profoundly. The project aligns fully with the remit of the fund to support innovative, Croatian enterprises positively impacting society by facilitating the generation of jobs and growth.”
About Terra Adriatica
Terra Adriatica – www.terraadriatica.hr was formed to challenge what has long held to be a fact in Croatia: that establishing clean title to some land is too hard, too expensive, too complicated and too time-consuming to undertake; in essence, “it is impossible”.
By applying advanced technology and innovative finance solutions to solve these complex challenges, Terra Adriatica will not only realise value for our clients but also the wider economy as the benefit of unlocking the estimated €billions of real estate attracts investment to support jobs and growth in Croatia.
About Feels Good Capital Partners
FEELSGOOD CAPITAL PARTNERS will launch the Feelsgood Social Impact Investment Fund, the first social impact fund in Croatia, once the process of authorization with the regulatory authorities is completed.
The targeted fund size is EUR 30 million and has a remit to invest in Croatian and Slovenian SMEs committed to providing profitable, environmental and social impact business models.