V4C closes fund on €91m

The vehicle held a first close on €80m in January this year and has announced two deals, an investment in Polish e-commerce platform Dreamcommerce and the buyout of Lublin-based waste management company Kom Eko.

The GP span out of Amundi Private Equity Funds (formerly Societe Generale Asset Management) in 2011. At the time, it was still investing from the €156m SGAM Eastern Europe Fund that was renamed V4C Eastern Europe Fund.

V4C is wholly owned by three partners, Bill Watson, Jacek Pogonowski and Piotr Misztal. Pogonowski said in a statement that the fundraise means V4C is one of the few Polish-focused funds of this size with capital currently available to invest.

Investors
The European Investment Fund and the European Bank for Reconstruction and Development both backed the fund at first close. A diversified group of Polish investors including the Polish Development Fund came in at final close.

Investments
V4C Poland Plus Fund targets investments in SMEs and small mid-cap companies, particularly in the service industries. It focuses mainly on Polish companies, but will also look at Romania, the Baltic countries and selectively other central European countries.

The fund aims to deploy €10-25m of equity per transaction in exchange for controlling stakes, though it will take minority positions in a syndicate with other professional investors.

People
Value4Capital – Bill Watson, Jacek Pogonowski, Piotr Misztal (partners).

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• Topics
• Funds
• Buyout
• CEE
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