Zubr Capital launched Zubr Capital Fund I private equity fund for $50 million. The European Bank for Reconstruction and Development (EBRD) become the anchor investor of the Fund. Its contribution to ZCFI amounts to $12.5 million and may be increased within the coming year. Other investors include Wargaming company. The Fund plans to make long-term investments for a period of 5-7 years. ZCFI will target private companies in the IT sector, producing consumer goods with high export potential, and also retail companies.
“We have formed a strong base of experts, but the involvement of such institutional investor as the EBRD opens access to the best expertise around the world. The presence in our Fund of such a serious player as Wargaming will strengthen our expertise in IT,” Oleg Khusaenov said. It took us four years to form the new fund,” said Nikolai Shestak, manager with the Zubr Capital fund-raising project. “During this time, we have not simply raised the money but also created ‘the ecosystem', a communications network for the development of direct investment".
“By committing $12.5 million to the Fund the EBRD is supporting the emergence of a strong private equity player, which could eventually become an important source of alternative financing for local SME,” said Alexander Yevseichik, a senior banker with the European Bank for Reconstruction and Development.