Lithuania-focused venture capital firm Practica Capital has invested EUR1.5 million (approximately US$1.7 million) in Lithuania-based agriculture machinery vendor East West Agro (EWA). The transaction was part of a larger funding round, which included Sweden-based lender Swedbank, totaling EUR6 million (approximately US$6.8 million). EWA will use the new funds to become… Read More
Private equity in Russia and the Commonwealth of Independent States (CIS) has been buffeted in recent months and years by successive political and economic crises, most notably currency depreciation, declining oil prices, economic estrangement from Europe and military conflict in Ukraine. Indeed, between 2014 and 2015 the Russian ruble depreciated… Read More
Venture capital firm Flint Capital has invested EUR1 million (approximately US$1.1 million) for a minority stake in Poland-based consumer finance services provider Creamfinance. Flint Capital is an existing investor in the company, having originally backed the company in 2014. The firm plans to support Creamfinance’s expansion into Scandinavian markets. Creamfinance… Read More
21 Concordia, a Poland-focused private equity firm affiliated with 21 Partners, has invested in Poland-based business to business laundry service provider Hollywood. With 21 Concordia's support, Hollywood plans to grow its business in Poland and enter new market segments and geographies. Financial details of the transaction were not disclosed. … Read More
Jobbatical, an Estonia-based platform that connects jobseekers to global tech jobs, has raised a US$2 million financing round from venture capital firms Union Square Ventures and LocalGlobe. Early-stage venture capital fund manager SmartCap also participated in the round. Jobbatical plans to use the new funding to improve its product and… Read More
Mid-market private equity firm Innova Capital has sold Romania-based payments processing company Provus Group to Germany-based electronic payments company Wirecard. According to Wirecard, the compensation owed within the scope of this transaction was EUR32 million (approximately US$35 million) in cash payments. Innova originally acquired the company in 2011. Read More
Mail.ru Group, a London-listed internet access service company headquartered in Russia, has agreed to sell Russia-based online recruitment website HeadHunter to a consortium of investors led by Russia and CIS-focused private equity firm Elbrus Capital for RUB10 billion (approximately US$131 million). The amount will be paid in two tranches before… Read More
CEE-focused venture capital firm 3TS Capital Partners has invested US$6 million in Poland-based marketing technology company SALESmanago. The company uses cloud-based technology to automate marketing for e-commerce and business-to-consumer companies. SALESmanago will use the new capital to build out its technology platform and expand in Europe. Read More
Global technology venture capital firm Rockaway Capital has led a US$2 million financing round for Albania- and Kosovo-based search, e-commerce and online advertising platform Gjirafa. The company, which caters to the Albanian language community, will use the new capital to digitize and index information in Albania and Kosovo and build… Read More
Estonia-based early-stage venture capital firm Karma Ventures has reached a first close for its debut fund with EUR40 million (approximately US$45 million) in capital commitments. The fund will focus on early-stage companies in Europe. Investors in the fund included Estonia-based investment company Ambient Sound Investments and the Baltic Innovation Fund,… Read More
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