Euroventures Ukraine II

Location:

Ukraine

Project number:

35020

Business sector:

Equity funds

Notice type:

Private

Environmental category:

FI

Approval date:

19 Apr 2005

Status:

Complete

PSD disclosed:

04 Mar 2005

Project Description

The proposed project is to invest in the successor fund of the EBRD sponsored Euroventures Ukraine Post Privatisation Fund (UPPF). The Fund will be the first private equity fund raised by the fund manager (Euroventures Ukraine) from a diverse pool of investors. EBRD will be a significant minority investor whereas it financed virtually all of investments under the UPPF.

The main objectives of the Fund are

  • to provide equity capital to local private companies to help finance the expansion of their businesses
     
  • to assist the fund manager build a sustainable private equity business
     
  • to achieve positive returns to the Fund’s investors.

Transition Impact

Transition impact will be achieved by

  • supporting the sustainability of one of the few active private equity teams in Ukraine by helping them raise a 2nd fund, diversify their investor base, and develop the team and investment strategy;
     
  • through Euroventures Ukraine hands-on and control-oriented investment strategy, to have a positive impact on the investee companies of the Fund; and
     
  • through the Fund Manager’s considerable technical expertise, facilitate transfer of knowledge and create positive demonstration effects in private sector in the country.

The Client

Euroventures Ukraine, a fund manager for Euroventures Ukraine II Fund.

EBRD Finance

EBRD investment will be up to USD 25 million. EBRD will provide 1/3 of the total committed amount of the Fund. The other investors will include private investors as well as institutional investors active in the region.

Project Cost

Up to USD 75 million.

Environmental Impact

The Fund will be required to implement environmental procedures based on the Bank’s Environmental Procedures for Private Equity Funds, which include the Bank’s Environmental Exclusion and Referral List. As a matter of policy, investee companies will be required to comply, at a minimum, with national regulations for environment, health and safety.

Technical Cooperation

None for the proposed fund.

Its predecessor, UPPF, was a donor sponsored fund. The Dutch government provided technical cooperation funds to be used to finance the fund management expenses as well as pre-and post-investment support to the investee companies. Canadian International Development Agency (CIDA) and the Swiss government also provided technical assistance funds for pre- and post-investment support to the local companies.

Company Contact

Euroventures Ukraine; Mr Valeriy Schekaturov

e-mail: valeriy@evu.kiev.ua;

Tel: +38 044 494 3237

 

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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