Genesis to launch €40m growth fund

The GP expects to hold a first close by the end of 2018 for the new vehicle, which will focus on smaller companies with growth potential present in the Czech and Slovak markets.

It will have an independent ownership structure and will be managed by Jiří Beneš, who joins Genesis from 3TS Capital Partners. He has been the president of the Czech Private Equity & Venture Capital Association since 2012 and will lead the fundraising along with Marek Hoščálek and Radim Jasek, who both have been partners at Genesis for 12 years. 

The GP's current flagship fund, Genesis Private Equity III, is at an advanced stage and if deployment carries on at the current speed, the team will be looking to raise a fourth fund by Q3 2019, managing partner Jan Tauber told Unquote. The new fund will aim for a hard-cap of €100-120m, exceeding the current vehicle's €82m.

Investors
Fundraising is still in the very early stages and, so far, the team has been in discussion with the European Investment Fund (EIF), Tauber said. The EIF is a main institutional LP in the fund's predecessors.

Investments
As opposed to the GP's current Genesis Private Equity Fund III, the new growth fund will target smaller businesses, mainly technology startups, with revenues of up to €15m and EBITDA of up to €2m.

People
Genesis Capital – Jan Tauber (managing partner); Jiří Beneš, Marek Hoščálek, Radim Jasek (partners).

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