Enterprise Investors announces the final closing of Polish Enterprise Fund VII

27 May, 2013 Warsaw, Poland

Enterprise Investors (EI), the pioneer of private equity and venture capital investing in Central and Eastern Europe, has announced the final closing of its latest fund, Polish Enterprise Fund VII (PEF VII). The total size of the fund is €314 million. The fund will continue to finance mid-market buyouts and growth companies in selected industry sectors, mainly in Poland.

“We are proud to close Polish Enterprise Fund VII. This is the second largest fund ever raised by Enterprise Investors. The successful fundraising was achieved with strong support from our long-standing investors,” commented Jacek Siwicki, President of Enterprise Investors.

The investors in the fund are internationally recognized financial institutions, mostly existing LPs.

Polish Enterprise Fund VII had its first close in May 2012. It has already made two investments – in a network of radiotherapy clinics (Center for Cancer Diagnostics & Therapy and Nu-Med) and in a sports nutrition company (Scitec).  Polish Enterprise Fund VII focuses on succession-driven buyouts from private entrepreneurs, as well as providing expansion capital to those who continue growing their businesses. Enterprise Investors’ strength lies in its ability to build excellent relationships with entrepreneurs active in the CEE region and with management teams interested in MBI and MBO transactions. The firm has followed this strategy for more than 20 years.

“We will continue making equity investments ranging mainly from €20 million to €50 million. Similarly to the previous funds, Poland will remain the core market and we expect to invest approximately two-thirds of Polish Enterprise Fund VII in Poland. We invest in sectors driven by the convergence of CEE domestic consumption with the ‘old’ EU, such as consumer products and retail, financial services, and healthcare, where we have substantial deal and exit experience. PEF VII will also invest in sectors driven by CEE’s growing internationalization and competitive cost position, for example IT, industrial products and business process outsourcing,” said Jacek Siwicki.

The final closing of PEF VII follows a very active period since the beginning of 2012, in which funds managed by Enterprise Investors completed seven new acquisitions with €124 million invested and committed. Enterprise Investors has also been very active in exiting companies. In 2012 EI completed four full and partial exits, including – for the first time ever – a public offering of its portfolio company (AVG Technologies) on the New York Stock Exchange. During the first four months of 2013, EI-managed funds exited their flagship investments in Zelmer, Kruk and Magellan (the latter partially), which are currently listed on the Warsaw Stock Exchange.

Enterprise Investors pioneered private equity and venture capital in Poland following its inception in 1990, and has developed outstanding investment experience over the past 23 years. With the closing of PEF VII, total funds raised by EI exceed €2 billion. To date, the seven private equity funds and one venture fund managed by Enterprise Investors have invested €1.6 billion in 130 companies across many sectors in Poland and other CEE countries. The funds have exited 98 investments, one-third of them via public markets.

Enterprise Investors has a team of 40 investment professionals, including 10 partners, who operate from the firm’s offices in New York, Warsaw, Bucharest, Budapest, Bratislava and Prague.

Source:  Enterprise Investors

Related Links:  http://www.ei.com.pl

The Fund Reviews team has advised investors in prior Polish Enterprise funds.