Central & Eastern Europe Data Insight (Year-End 2019)

Overall CEE & CIS fundraising was on par with previous years, while VC fundraising grew nearly fourfold

Private capital fund managers targeting Central and Eastern Europe (CEE) & the Commonwealth of Independent States (CIS) raised a total of USD1.5 billion for the region in 2019. Total fundraising for CEE & CIS dipped slightly due to an absence of larger regional funds. However, Turkish GPs capitalized on a stabilized currency and improved economic prospects, with Turkey-dedicated funds raising USD664 million in 2019. CEE & CIS venture capital (VC) funds—which mostly focused on early-stage opportunities—raised USD438 million, the highest total for the strategy since 2011. Led by Earlybird Digital East Fund II’s USD134 million final close and Cogito Fund I’s EUR55 million (USD62 million) final close, VC funds in the region grew in size as well. As local tech ecosystems evolve, fund managers are equipping themselves to invest in fast-growing companies with global potential.