Delta Partners joins €40m funding round in Virgin Mobile CEE

Delta's investment was made through its Emerging Markets TMT Growth Fund II. It will help launch VMCEE in Turkey and develop the mobile service provider's operations in Poland.

The three other investors in the round also contributed €10m each to the investment, and included European Bank for Reconstruction and Development (EBRD), International Financial Corporation, and CEE Mobile Capital.

Following the deal, Delta chairman Kai-Uwe Ricke will join VMCEE's board, while the GP's executive partner and former telecoms company CEO Boris Nemsic will join the board of Virgin Mobile Poland.

Company
VMCEE is an early-stage mobile virtual network operator (MVNO) that provides affordable mobile broadband marketed to the youth. MVNOs operate on existing mobile network infrastructure rather than building new networks.

The company was founded to develop Virgin Mobile subsidiaries across central and eastern Europe, which has a potential market of more than 275 million mobile customers.

People
Delta chairman Kai-Uwe Ricke and managing partner Boris Nemsic worked on the deal alongside Tomasz Telma, International Financial Corporation's director for Europe and central Asia.

Alan Gow is the CEO of VMCEE.

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• Topics
• CEE
• Expansion
• Consumer
• EBRD
• IFC (World Bank)
• Turkey
• Poland