Kala Capital launches first fund

01 May 2008

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Fund

In April, Kala Capital announced the launch of its first fund, which will be dedicated entirely to Georgia. The fund has a target of $1.5bn and is to close at the end of 2008.

Investors

The fund is currently in talks with individuals and institutional investors mainly in the UK, the US and Italy. All are especially interested in energy projects.

Investments

The fund will invest only in Georgia and will focus on the real estate, banking and energy sectors. It has already started to invest through the creation of holdings. Kala Capital founded the corporate, retail and private bank Progress Bank and will open its first branch next September. It has also backed the development of a residential park including a hotel, a school and a hospital for $1bn. Last January, the fund acquired Sakhydroenergomsheni, a company specialising in the construction of hydro and thermal power facilities.

People

Zurab Nogaideli, Georgian Prime Minister from 2005 to 2007, is the chairman of Kala Capital. He will be supported by a team of four people, including Georgian ex-Finance Minister Aleksi Aleksishvili and Kakha Kaladze, cofounder of Kala and current Italian football player.

Name: Kala Capital

Target: $1.5bn

Focus: Georgian Venture

Contact: Zurab Nogaideli

Address: 6/8/10 Baratashvili Street, Old Tbilisi District, Tbilisi, 0105, Georgia

Tel: +995 32 91 92 22.