Currently there are 23 CEE-focused funds in the market targeting a total of €3.8 billion. Out of these, seven are buyout funds looking to raise an aggregate €1.48 billion. This figure represents close to 40% of the CEE-focused market, with an average fund size of around €210 million. Notable CEE-focused buyout funds currently on the road include Innova Capital, which is looking to raise €350 million for its fifth CEE-focused fund and Bancroft Private Equity which is looking for €250 million for its third CEE-focused fund.
There are nine venture funds in the market looking to raise €861 million in total aggregate capital. These include early stage funds, expansion funds and venture funds with no particular stage preference. The average fund size is €95 million. The largest venture fund currently being raised is the MarCap II, raised by Marshall Capital Partners. The fund focuses primarily on Russia and invests across a variety of sectors. Another large CEE-focused fund is the Emerging Europe Accession Fund, which is looking for €200 million in capital commitments. This fund will invest in Bulgaria, Romania, Turkey, Ukraine and Moldova.
Other Central and Eastern Europe focused funds that are currently fundraising include two balanced funds, three mezzanine funds, one distressed debt fund and one turnaround fund. The largest is a distressed debt vehicle being raised by Quadro Capital Partners. It is targeting €350 million, to invest in distressed Russian companies operating in the consumer products, consumer services and financial services sectors. One of the more notable mezzanine funds currently in the market is Syntaxis Mezzanine Fund II raised by Syntaxis Capital. The vehicle is the second of its kind raised by the firm, and is looking to invest in companies located in Czech Republic, Poland, Slovakia and other Central European countries. The target for the fund is €250 million.
All of the data used in this blog is taken from our Fund Manager Profiles.