Dragon Capital buys minority stake in ShipNext

Following the deal, ShipNext will receive fresh capital to integrate its newly launched digital services over the next 18 months.

The company has designed an online platform to manage various aspects of cargo shipping. It will also aim to facilitate increased transparency in shipping finance by providing banks with real-time charter rates, statistics and analysis.

Dragon Capital, Ukraine's largest investment bank, currently manages Europe Virgin Fund, a €75m buyout vehicle. The fund invests in businesses based in Ukraine, Moldova and Belarus, focusing on sectors including fast-moving consumer goods, industrials, communications, pharmaceuticals, media and technology.

The private equity arm of the investment bank acquired Ukrainian radio station Radio-Era TRC in September 2017.

Company
Founded in 2000, ShipNext uses software to read emailed cargo requests or ship positions and match cargo with ships using 70 various databases and algorithms. It also carries out route checks and calculates ship and port data, distances, restrictions and risk zones.

People
Dragon Capital – Tomas Fiala (CEO).
ShipNext – Alexander Varvarenko (founder, CEO).

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