Genesis holds first close on €31m for GGEF I

The vehicle focuses on smaller and mid-size high-growth potential companies primarily in the Czech and Slovak markets to provide entrepreneurs with additional capital to back their business expansion.

Genesis launched GGEF I in May 2018 and is targeting €40m for the vehicle, according to Unquote Data. The second closing is expected during the next 12 months.

The firm has also announced its intention to launch GPEF IV in Q4 2019 with a target of €100-120m for small and mid-market companies, according to Unquote Data. Its predecessor, GPEF III, held a final close on its hard-cap of €82m in 2016.

Investors
LPs mostly include local and international institutions and investment firms such as the European Investment Fund, Amundi Czech Republic (member of international group Amundi), Kooperativa Pojišťovna and Česká Podnikatelská Pojišťovna (both members of Vienna Insurance Group), financial group RSJ and Czech family office SPM Capital.

Investments
The new fund will focus on investing in smaller companies. The vehicle will build a portfolio of companies with growth potential in the Czech Republic and Slovakia, mainly technology startups, generating revenues of up to €15m and EBITDA of up to €2m. It will write equity tickets of €2-5m.

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

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