Zubr Capital gears up for 2021 fundraise

Zubr will target a fund size of $150m, he said, adding that fundraising should take around a year to complete.

The new fund will deploy equity tickets in the $5-10m range, with a focus on fast-growing domestic companies operating in the IT and technology space, Shestak added. Around 15% of the fund would be allocated to investments in neighbouring countries within the same target industries, he said.

Zubr manages the $91m Zubr Capital Fund I, which was launched in mid-2016 and held a second close in January 2018. Zubr expects to start fundraising when the current fund investment period is over, Shestak said.

The firm's key investors include the European Bank for Reconstruction and Development; WGVC, an investment organisation managed by the founders of Cyprus-headquartered video game company Wargaming; and the Dutch Development Fund (FMO).

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