Espira holds first close for debut fund

The private equity firm, headquartered in Prague, launched its debut fund with a target size of €30m.

Fundraising began in summer 2016, founder Emilia Mamajová told unquote".

Around half of the capital has been raised at first close. With time freed up from fundraising, the team is now focusing on closing its first deal, Mamajová said. Adding that investors can then get a feel for the type of investment that the fund is seeking to make.

The Espira Fund I has a regional focus on the Czech Republic and Slovakia. Depending on how the investment process pans out, a second fund could look beyond these core markets to other CEE countries and western Europe.

Investors
Espira Fund I has received funding from Horizon 2020, the EU's research and innovation programme, the European Fund for Strategic Investments (EFSI) and the European Investment Fund. In addition, local family offices and entrepreneurs also backed the vehicle.

Investments
The firm intends to deploy equity tickets of €1-3m per deal. It is targeting small to medium-sized companies located in the Czech Republic and Slovakia, mainly in the consumer goods and manufacturing sectors.

People
Espira – Andrea Ferancová, Emília Mamajová (founders).
European Investment Fund – Pier Luigi Gilibert (CEO).

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