Poland, Oct. 15 -- The European Bank for Reconstruction and Development (EBRD) has invested up to €40 million in Avallon MBO Fund IV, a private equity fund focused on supporting small and medium-sized enterprises (SMEs) and small mid-cap companies in Poland and elsewhere in central and eastern Europe.The investment will promote private enterprise, encourage management to take ownership stakes in their companies and help those businesses to build operational capacity, innovate and grow.Avallon MBO Fund IV, managed by Avallon, is targeting total commitments of €220 million, with a maximum size of €260 million. At least 70 per cent of the fund's commitments will be invested in Poland, with up to 30 per cent allocated elsewher...