The beginning of the year started with a big event for Belarusian investment market. In January of this year private equity firm Zubr Capital has closed the first deal on behalf of its currently raised fund – Zubr Capital Fund.
The investments were made into SoftClub, one of the largest Belarusian IT-company. SoftClub is focused on development of software for banking and financial industry, public sector and manufacturing companies. In 2013 for the third time in a row the company was included on the Software 500 list (ranking of the world's largest software and service providers) and became one of the six Belarusian based companies included on this list.
“As a matter of fact, our integration was originated by the software market itself. The current market expects continuous development and progressive motion from its players, it requires improvement of products and technologies along with development and implementation of effective strategy,” – stated Vladimir Sirotko, CEO of SoftClub, providing comments to the accomplished transaction.
“We do not hesitate in success of the joint project of two leaders at the market. We are sure that Zubr Capital and SoftClub together can build challenging and successful future. I believe that this collaboration will bring positive changes and open new horizons for improving of business processes in SoftClub”.
The private equity firm is providing SoftClub with growth capital in line with the strategy of its new fund: investing into fast growing Belarusian companies with high export potential to the member countries of Single Economic Space.
Under the terms of the transaction the investment company is going to develop strategy for IT company, launch its back office (financial management, HR management, brand promotion and formation of business processes). The fundamental role of Zubr Capital in this partnership implies sharing of the competences which have been successfully implemented by Zubr Capital team in business for more than 20 years. According to the SoftClub shareholders, one of the joint targets is improvement of quality of services rendered at the Belarusian market as well as sales of software products both locally and at the CIS markets. These goals imply development of a new core along with creation of effective packaged solution.
“Zubr Capital expertise in banking industry and IT is a fundamental prerequisite for building fruitful collaboration with such prospective company as SotClub, - said Oleg Khusaenov, CEO of Zubr Capital. – We see the main value of the company in its team. We believe in the SoftClub team. We expect that thanks to the strong team that has solid experience in development of software for banking and financial industry along with our expertise in corporate governance and developing of strategies we will be able to release a new product demonstrating high quality of services and attractive for clients in Belarus and abroad”.