CEE private equity firm Enterprise Investors closes latest fund on €100m

The new fund will provide expansion capital to small and medium-sized enterprises in Poland and other countries in CEE, with investments ranging from €1m to €5m.

The fund will primarily target companies in the technology sector, such as IT, telecoms and media, and also other sectors including retail, manufacturing, business and financial services and consumer goods.

During its first year, EVF I will predominantly invest in Poland, and then will look to expand to countries in CEE where EI has a presence, the firm said.

The largest investor in Enterprise Venture Fund I is the George Kaiser Family Foundation. Other investors comprise international financial institutions that have been working with EI for several years, according to a statement.

'We raised the new fund to meet the huge demand among smaller companies for private equity/venture capital financing. EI grew together with the Central European business leaders by investing ever greater sums in individual projects. However, we are also aware of the needs of the new generation of companies, which are well placed to join the group of largest and most successful enterprises in the future. These are the companies we intend to finance from the capital of Enterprise Venture Fund I,' said Jacek Siwicki, president, EI.

In 2006, EI closed its latest buy-out fund, Polish Enterprise Fund VI, on €658m.

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