Capman invests in Maykor

Capman invested in the business alongside the Russian Direct Investment Fund (RDIF) and the European Bank for Reconstruction and Development (EBRD). RDIF is a $10bn, state-owned fund that co-invests in companies contributing predominantly to the Russian economy.

RDIF is mandated to secure co-investment that matches or exceeds its own contribution to a company's equity. It contributed $50m to the funding round for Maykor, with Capman Russia II and EBRD supplying the balance.

The funding will be provided to Maykor in stages, according to EBRD. The fresh capital will allow the company to grow its market share of the $24bn Russian IT market, as well as extend its reach across a wider range within Russia.

The investment in Maykor is the first for Capman Russia II, which held its first close in March on €97m, according to unquote" data. EBRD is an investor in the fund, having committed €50m earlier this year. Capman Russia II has a target of €175m.

Company
Founded in 2010, Maykor is headquartered in Moscow with a further 82 branches across Russia. The company currently employs around 3,000 staff.

Maykor provides a range of IT sources to mid-size and large businesses across Russia, including outsourcing, the building of utility systems, a training programme, and a service monitoring and control system, as well as business applications. The company currently has a client base of more than 1,000 businesses.

People
Sergey Sulgin is the president of Maykor. Capman CEO and senior partner Heikki Westerlund represented the firm on the deal. Kirill Dmitriev is the CEO of RDIF and Natasha Khanjenkova is a managing director for Russia at EBRD.

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