Czech Republic- and Slovakia-focused private equity firm Genesis Capital has reached a first close for Genesis Private Equity Fund III (GPEF III) with EUR45 million (approximately US$49 million) in capital commitments. Investors in the first close included: development finance institution European Investment Fund, Czech Republic-based bank Česká spořitelna, Czech Republic-based asset manager Investment Company of Komercni banka (IKS KB), Finland-based asset manager eQ Private Equity and Czech Republic-based insurance companies Kooperativa pojišťovna and Česká podnikatelská pojišťovna. The fund will target investments in small and medium-sized businesses in the Czech Republic and Slovakia.