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Genesis Capital launches €150m fund

Alessia Argentieri
24 June 2020

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Genesis Capital, a private equity firm dedicated to investments in central Europe, is launching a new fund, Genesis Private Equity Fund IV (GPEF IV), with a €150m target.

The vehicle plans to hold a first close at the beginning of 2021. This is the sixth private equity fund raised by Genesis since its establishment 20 years ago.

The fund will be larger than its predecessor, Genesis Private Equity Fund III, which closed on its hard-cap of €82m in 2016.

GPEF IV will focus on investments in small and medium-sized companies with high growth potential, based across the Czech Republic, Slovakia, Poland, Hungary and Austria. It plans to build a portfolio of around 12 businesses.

“We see a big number of opportunities in this segment of the market and decided to launch a new and larger fund to support its growth,” said Ondřej Vičar, managing partner at Genesis Capital Equity.

The fund will invest in established companies with a strong growth potential, focusing situations where founders are considered suitable successors or are looking for capital to grow their businesses, expand internationally or invest in innovations. It will also target carve-outs of multinational groups whcih are looking to divest their non-core business units.

It will target a wide range of industries, with a focus on sectors where Genesis have had a strong historical track record, such as B2B services, light and medium manufacturing, IT services and specialised retail and consumer services.

Tatiana Balkovicová, a senior investment director at Genesis, said: “We believe that despite the current situation, there are numerous companies with experienced management teams and the ambition of developing their business to a higher level that are able to efficiently use private equity capital. [We] are ready and looking forward to take on the challenge.”

Genesis Capital has recently held a €31m first close for Genesis Growth Equity Fund I, against a €40m target. The fund focuses on investing in smaller companies based in Czech Republic and Slovakia, mainly technology startups, generating revenues of up to €15m and EBITDA of up to €2m. It writes equity tickets of €2-5m.