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CEE & CIS Data Insights (Mid-Year 2020)

EMPEA Members can log in to receive exclusive access to the full detailed report (PDF) and underlying data (Excel). Buyout-focused GPs raised USD783m for CEE & CIS in 1H 2020, becoming poised

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Mid-Year 2020 Global Private Capital Industry Data & Statistics

Legal & Regulatory Bulletin – Issue No. 29, June/July 2020

Views from the Field: Assessing Challenges and Opportunities for Private Equity in Russia and CIS

Tax and the Strategic Investment Decision: Where, Why, When and Comparative Tax Elements in 15 Emerging Markets

Horizon Capital’s Datagroup to Acquire Ukrainian Broadband Cable Service Provider Voila

Horizon Capital-backed Datagroup has agreed to acquire 100% of Volia, a Ukraine-based broadband cable service provider. The transaction is subject to regulatory approvals. Read more

Learn Capital Leads USD80m Series D for Polish Edtech Brainly

Learn Capital led a USD80m Series D for Brainly, a Poland-based peer-to-peer learning platform, with follow-on from Prosus Ventures, Runa Capital, MantaRay, and General Catalyst Partners. Read more

Flashpoint Venture Capital Reaches USD50m First Close for CEE & CIS VC Fund

Flashpoint Venture Capital has reached a USD50m first close for its third VC fund. The vehicle, which targets USD75-100m, will invest in international companies founded by management teams from CEE

D1 Capital Partners Leads USD182m Round for Estonian Ridesharing and Food Delivery App Bolt

D1 Capital Partners led a EUR150m (approximately USD182m) equity round for Estonia-based ridesharing and food delivery app Bolt, with participation from Darsana Capital Partners. Read more

Enterprise Investors Invests USD30.5m in Poland’s Software Mind

Enterprise Investors invested EUR25m (approximately USD30.5m) for 50.2% stake in Polish Software Company Software Mind. Read more

Karma Ventures and BlackFin Lead USD4m Seed Round for Estonian Core Banking Platform Modularbank

Karma Ventures and BlackFin Capital Partners led a USD4m late seed round for Estonia-based core banking platform Modularbank, with participation from Plug and Play Ventures, Siena Capital, and former Twilio

Horizon Capital Exits Moldovan Glass Packaging Companies GCC via Sale to Vetropack

Western NIS Enterprise Fund, a fund managed by Horizon Capital, has agreed to sell its stakes in Moldova-based Glass Container Company and Glass Container Prim (GCC) to Vetropack Group for

Target Global and Palta Lead USD5m Series A for Cyprus’ Nutrition Platform Simple

Target Global and Palta led a USD5m Series A for Cyprus-based nutrition platform Simple, with participation from S16 Angel Fund and Supernova. Read more

Mid Europa to Acquire Polish Cloud Business Management Solutions Company Sage

Mid Europa Partners has entered into an agreement to acquire Sage Poland, a Polish cloud business management solutions company for SMEs, from The Sage Group. The transaction is subject to

Andreessen Horowitz Leads USD5.5m Seed Round for Ukrainian Face-Swap Video App Reface

Andreessen Horowitz led a USD5.5m seed round for Reface, a Ukraine-based app for video and GIF face-swaps, with participation from angel investors. Read more

3TS-Backed Catalyst Romania Reaches First Close for Second VC Fund

3TS Capital Partners-backed Catalyst Romania has reached a EUR26m (approximately USD31.2m) first close for Catalyst Romania Fund II, its second VC fund. The vehicle, which targets EUR40-50m, will invest in

Kartesia Provides EI-Backed Nu-Med with USD38m Refinancing Package

Kartesia, through its Kartesia Credit Opportunities (KCO) IV and V funds, has provided Nu-Med, a Poland-based oncology center operator backed by Enterprise Investors, with a EUR32m (approximately USD38m) refinancing package.

Abris Acquires Polish Health Care Network Operator Scanmed

Abris Capital Partners, through its Abris CEE Mid-Market III fund, has acquired 100% of Poland-based health care network operator Scanmed from Life Healthcare Group for an undisclosed amount. The transaction

Baring Vostok and Winter Capital Invest in Russian Edtech Skyeng

Baring Vostok and Winter Capital have invested an undisclosed amount in Russia-based edtech Skyeng. Read more

Horizon Capital Increases Stake in Ukrainian Digital Services Provider Datagroup

Horizon Capital’s EEGF II has increased its stake in Ukraine-based fiber infrastructure and digital services provider Datagroup from 73.46% to 96.13%. As a result of the transaction, the company’s founder

Apollo Global to Invest USD591 in Czech Lottery Company Sazka Entertainment

Apollo Global Management has agreed to invest EUR500m (approximately USD591m) in Czech Republic-based lottery company Sazka Entertainment. The transaction reportedly brings the company’s valuation to EUR4.2b (approximately USD5b). Read more

Elbrus Capital- and Winter Capital-Led Consortium Acquires 60% of Russian Bank and Insurance Marketplace Banki.ru

A consortium of investors led by Elbrus Capital and Winter Capital has acquired a 60% stake in Russia-based bank and insurance marketplace Banki.ru from the company’s founders. Read more

Innova Capital Invests in Polish Cosmetics Company Bielenda Kosmetyki

Innova Capital has invested an undisclosed amount in Poland-based cosmetics company Bielenda Kosmetyki. Innova Capital will also support the company in the acquisition of the Dermika and Soraya brands from

EIT InnoEnergy, FirstFloor, MM Grupp, and Harju Elekter Invest USD48m Series D for Estonian Energy Storage Products Manufacturer Skeleton

Existing investors EIT InnoEnergy, FirstFloor Capital, MM Grupp, and Harju Elekter have invested a EUR41.3m (approximately USD48m) Series D for Skeleton Technologies, an Estonian manufacturer of ultracapacitor-based energy storage products.

Mid Europa to Acquire Majority Stake in Polish Online Metal Prints Marketplace GWD

Mid Europa Partners has agreed to acquire a majority stake in Poland-based online metal prints marketplace GWD Concept from the company’s founders, Credo Ventures, and Miton Capital. The transaction is

Sierra Ventures Leads USD1.75m Seed Round for Armenian Text-to-Podcast Conversion Startup Podcastle

Sierra Ventures led a USD1.75m seed round for Podcastle, an Armenia-based text-to-speech converter that uses artificial intelligence to convert news into podcasts, with participation from AI fund and Correlation VC.

Fil Rouge Capital Invests ~USD1.4m in Slovenian Translation Startup TAIA

VC Fil Rouge Capital invested a EUR1.2m (~USD1.4m) seed round for Slovenian machine translation platform TAIA. Read more

Macquarie Acquires ČEZ Group’s Romanian Power Assets

A consortium led by Macquarie Infrastructure and Real Assets (“MIRA”) acquired a portfolio of Romanian power assets owned by ČEZ Group, including electricity distribution networks, energy supply, and the Fantanele

Abris Exits Polish Locomotive Leasing Company Cargounit to Three Seas

Abris Capital Partners has agreed to sell its stake in Poland-based locomotive leasing company Cargounit to Three Seas Initiative Investment Fund. The transaction is expected to close by year-end 2020.

Innova to Acquire Romanian Payments Operator Paypoint Romania

Innova Capital has agreed to acquire Romania-based payments operator PayPoint Romania from LSE-listed PayPoint. The transaction is subject to regulatory approval. Read more

Baring Vostok and Goldman Sachs Acquire Stake in Russian Finance and Insurance Marketplace Sravni.ru

Baring Vostok and Goldman Sachs have acquired stakes in Russia-based finance and insurance marketplace Sravni.ru. Read more

PortfoLion Invests USD2.5m Series A for Polish E-Commerce CRM Platform edrone

Hungarian VC PortfoLion has invested a EUR2.11m (approximately USD2.5m) Series A for edrone, a Poland-based e-commerce CRM platform that provides advanced marketing automation solutions. The capital will fund research and

Mid Europa Sells Minority Stake in Hungarian Logistics Company Waberer’s to Indotek

Mid Europa Partners has agreed to sell 24% of its interest in Hungary-based freight and logistics company Waberer’s International to real estate investment and development business Indotek. The transaction is

Innova Capital Exits Polish Logistics Operator PEKAES via Sale to GEODIS & Buys STX Next

Innova Capital exited logistics operator PEKAES via a sale to France-based global supply chain operator GEODIS. The terms of the transaction were undisclosed. Innova Capital also made an undisclosed investment in

EI Acquires Additional 35% Stake in Croatian Bakery Pan-Pek

Enterprise Investors, through its Polish Enterprise Fund VII, has acquired an additional 35% stake in Croatia-based frozen bakery products producer and retailer Pan-Pek from Ivan Parać, the company’s founder. The

Baring Vostok-Backed Kaspi.kz Raises USD870m in London IPO

Kaspi, a Kazakhstan-based fintech backed by Baring Vostok and Goldman Sachs, has raised USD870m in its IPO on the London Stock Exchange, reaching a reported valuation of USD6.5b and facilitating

Mediterra Acquires Majority Stake in Turkish Fintech PayCore

Mediterra Capital has agreed to acquire a majority stake in Turkey-based payment solutions provider PayCore. Read more

Lead Ventures Leads USD2.5m Series A for Hungarian Server Security Solutions Provider BitNinja

Lead Ventures led a USD2.5m Series A for Hungary-based website server protection solutions provider BitNinja, with participation from Oxo Technologies Holdings. Read more

Abris Acquires Majority Stake in Polish E-Commerce Delivery Solutions Provider R2G Polska

Abris Capital Partners has acquired a majority stake in R2G Polska, a Poland-based e-commerce delivery solutions provider operating under the Apaczka brand, from Concordia 21. Read more

Giant Ventures Leads USD2m Pre-Seed Investment in Poland- and US-Based Air Quality Data Platform Airly

Giant Ventures led a EUR1.7m (approximately USD2m) pre-seed round for Airly, a Poland- and US-based internet company that specializes in providing hyper-local data about air pollution, with participation from angel

Enterprise Estonia Invests USD1.4m in Estonian Production Management Software Eziil

Enterprise Estonia and others have invested EUR1.2m (approximately USD1.4m) in Eziil, an Estonia-based production management software for factories. Read more

Cogito Invests USD4.3m Series A for Polish Healthtech HomeDoctor

Cogito Capital Partners has invested a EUR3.7m (approximately USD4.3m) Series A for Poland-based healthtech HomeDoctor, with participation from the company’s founders. Read more

Allegro Raises USD2.3b in Warsaw IPO, Permira, Mid Europa Partners, and Cinven Exit

Poland-based e-commerce group Allegro has raised USD2.3b in its IPO on the Warsaw Stock Exchange, facilitating a partial exit for shareholders Permira, Cinven, and Mid Europa Partners who originally acquired

Quona Capital, Elevator Ventures, Syngenta, and the Collective Spark Fund Lead USD5m Series A for Turkish Fintech Tarfin

Quona Capital, Elevator Ventures, Syngenta Ventures, and the Collective Spark Fund led a USD5m Series A for Turkey-based fintech Tarfin, with participation from Wamda. Read more

VentureFriends Leads USD12m Investment in Greece- and Poland-Based Used Car Marketplace Spotawheel

VentureFriends led a EUR10m (approximately USD12m) debt and equity funding for Spotawheel, a used car marketplace with operations in Greece and Poland, with participation from existing investors Velocity Partners and

Tiga Investments, OTB Ventures, and TDJ Pitango Lead USD15m Series A for Poland- and China-Based Data Analytics Platform Cosmose AI

Tiga Investments, OTB Ventures, and TDJ Pitango led a USD15m Series A for Cosmose AI, a Poland- and China-based data analytics platform focused on predicting consumers’ offline shopping behavior. Read

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