DVCM acquires IT Invest

The firm invested via its Da Vinci Private Equity Fund II, which held a first close on its target's halfway point of $100m in January. The European Bank for Reconstruction and Development (EBRD) is a cornerstone investor of the fund, having committed $30m in 2013.

Russian Funds Investment Group (RFIG) is already a shareholder in IT Invest, following an investment in 2007. Alongside company management, RFIG will retain a 37% stake in IT Invest.

Under DVCM's ownership, IT Invest will pursue the development of an international platform and target new institutional and retail clients. The company will also employ a few new members of staff.

Company
Founded in 2000 and headquartered in Moscow, IT Invest provides online brokerage services and technology for the derivatives market of the Moscow Exchange.

The company has developed technology platforms including the MatriX trading system and SmartX terminal, designed to provide clients access to trading on Russian and western markets. IT Invest claims to have approximately 8,000 clients.

Services include internet trading, depositary services, margin financing, investment consulting and support. The company has a rating of AA+.

People
Oleg Jelezko is a managing partner at DVCM.

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