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Opinions & Interviews

5 Sep 2016

EBRD: The new private equity fund will enhance Belarus’ investment appeal

EBRD: The new private equity fund will enhance Belarus’ investment appeal

MINSK, 5 September (BelTA) - The launch of the new private equity fund Zubr Capital Fund I (ZCFI) of $50 million will enhance the investment attractiveness of the country, Alexander Yevseichik, a senior banker with the European Bank for Reconstruction and Development, said in a press conference in BelTA’s press center on 5 September.

“The launch of ZCFI will make Belarus more attractive for investment and will be an important stage in the development of the private equity financing,” the EBRD representative said.

Alexander Yevseichik noted that the Fund is a new tool for the Belarusian economy. “There have been no Belarus-focused funds lately. Before that there were the funds of Russian, Ukrainian and western origin, but today we can say that investors have confidence in the Belarusian economy and are willing to invest in the Fund focused solely on Belarus,” he said.

According to the EBRD representative, the Fund targets private business in Belarus. “We hope that this tool will help the Belarusian economy return to growth in investments. It is a sign, a signal that we expect economic recovery and hope that other investors will return and will invest more in Belarus,” he noted.

Alexander Yevseichik explained that the creation of private equity fund is not only about the money invested in the economy but also about modern financial technology.

The launch of ZCFI is a great event for the entire IT industry, said Sergei Osipov a representative of Wargaming Company, one of the key investors of the Fund. “This sector has been doing well in the country. Our High-Tech Park demonstrates amazing results. This shows that the country has good teams and ideas. If we add more finances, this could give a boost to the development of not only IT but also the related industries,” he said.

Zubr Capital is launching the Zubr Capital Fund I private equity fund of $50 million. The European Bank for Reconstruction and Development (EBRD) is 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 to 7 years. ZCFI will target private Belarusian companies in the IT sector, the companies producing consumer goods with high export potential, and also retail. All in all, the Fund is planning to finance 6 to 8 companies.

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