Russia-focused private equity firm CapMan Russia, a subsidiary of Finland-based fund manager CapMan, has held a first close for its second Russia-focused fund, CapMan Russia II, at EUR97 million (approximately US$124.6 million). The fund has garnered commitments from ten institutional investors from the United States and Europe, including the European Bank for Reconstruction and Development (EBRD). CapMan intends to invest in small- and mid-sized businesses in fast growing sectors such as healthcare and consumer goods.