Zubr Capital is the first company managing private equity funds in the Republic of Belarus

3 exits
from portfolio companies
12 companies
in the Fund portfolio
2 funds
14 167
employees in portfolio companies

More than 10 years ago Zubr Capital became the first direct investment fund management company in Belarus. During this time, we have invested in the best Belarusian private businesses, which still show stable growth. The companies in our portfolio are leaders in their fields, which their competitors look up to. Attraction of fund investments is an opportunity for an entrepreneur to fix his success, as well as to acquire a reliable rear and resources for further growth. We are confident that our management experience and investments can become a launch vehicle for the company, which will put the business into a new orbit.

Oleg Khusaenov
CEO «Zubr Capital»
Oleg Khusaenov

Zubr Capital invests in private fast-growing Belarusian companies through the ZCFI Fund.

The investment Fund is interested in attracting fast-growing businesses that operate in various sectors of the economy. Among the shareholders of the Fund are international financial institutions (EBRD, FMO), private companies (Wargaming) and individuals from the CIS countries. Investment funds managed by Zubr Capital are an important part of the investment ecosystem in Belarus.

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Investment priorities

Investment Fund ZCFI focuses on attracting investments in tech companies, residents of the High Tech Park

Direct investments of the fund can attract manufacturing enterprises with high export potential

It is important for the investment fund that the size of the company matches the target size of the fund's investments

Attraction of direct investments implies a high potential for business value growth


Zubr Capital was established
Zubr Capital invested in SoftClub
Exit from MTBank
Exit from Atlant Telecom
Launching fund Zubr Capital Fund I at the size 50 mln USD
Zubr Capital invested in online hypermarket 21vek.by
Zubr Capital invested in autoclassifide av.by
Zubr Capital invested in Uniflex (flexible packaging)
Zubr Capital invested in Softline (IT)
Second Closing Zubr Capital Fund I at the size 90 mln USD
Zubr Capital invested in Targetprocess (IT).
Zubr Capital has attracted investments in MEDIACUBE
Zubr Capital invest in Mila Group
Zubr Capital invest in Myfin Group
Zubr Capital has attracted investment in Realt.by
Zubr Capital made an exit from Targetprocess
Zubr Capital invested in 3DLOOK

Do you want to prepare for a meeting with an investor and attract investments from Zubr Capital?

Fill out a short questionnaire and download business plan and presentation templates.

Business stages