Zubr Capital Fund I



Project number:


Business sector:

Equity funds

Notice type:


Environmental category:


Approval date:

25 Nov 2015



PSD disclosed:

14 Sep 2015

Translated version of this PSD: Russian

Project Description

The EBRD is providing an equity commitment of up to USD 25 million in Zubr Capital Fund 1 LP (the "Fund"), a Jersey limited partnership. The Fund is targeting USD 100 million of capital commitments.

The Fund will predominantly make minority equity investments into medium-sized companies in Belarus.

Project Objectives

The Bank's participation will help the fund, a first in the country, achieve its first closing.

Transition Impact

The transition impact of the proposed project will come from the following areas:

1. Supporting the entrance of a new, first-time fund manager and thereby supporting the market expansion of private equity in Belarus.

2. Improve the standards of corporate governance, both at the fund and at the portfolio company level.

Client Information

EBRD Finance Summary
USD 25,000,000.00
Total Project Cost
USD 100,000,000.00

Environmental and Social Summary

Categorised as a "Financial Institution", the Fund must comply with EBRD's performance requirements 2, 4 and 9, adopt and implement the Environmental and Social Procedures for Active Equity Investments and submit Annual Environmental and Social Reports to the Bank.

Technical Cooperation


Company Contact Information

Nikolay Shestak
+375 17 218 99 23
Zubr Capital, 100 Pobediteley Avenue, Floor 4, 220020, Minsk, Belarus.

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

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