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Da Vinci Capital second fund secures $20m backing from EBRD

25 Mar 2013

moscow 7_sqRussia’s Da Vinci Capital Management has secured the backing of the European Bank for Reconstruction and Development (EBRD) for its second private equity fund.

The EBRD has committed $20m towards the $200m Da Vinci Private Equity Fund II, which will target small and medium sized enterprises in the financial services and IT sectors in Russia and the CIS.

The fund said it expects to receive financing from institutional investors in Russia and broad and family offices.

Back in February DenTon – which is a group of investors led by entrepreneurs Tony Maher and Dennis Fulling – acquired a “significant stake” in Da Vinci Capital and agreed to back its second fund.

Da Vinci PE II has already made its first investment, having backed online procurement platform B2B-Center in Q3 2012.

Da Vinci Capital currently has $300m under management.

In February this year, Da Vinci-backed Moscow Exchange raised $500m via an IPO, which valued it at $4.2bn.

This was the second IPO for the firm’s first fund following the float of EPAM Systems in February 2012.

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