• Home
  •  
    Regions
    • Europe
    • UK & Ireland
    • DACH
    • Nordic
    • France
    • Southern Europe
    • Benelux
    • CEE
    • Asia
  •  
    Deals
    • Buyouts
    • Venture
    • Exits
    • Refinancings
    • Build-up
    • Turnaround
    • Secondaries
    • Advanced deals search
  •  
    Funds
    • Buyout
    • Venture
    • Mezzanine
    • Debt
    • Funds-of-funds
    • Secondaries
    • Fundraising pipelines
    • Advanced funds search
  •  
    GPs & LPs
    • GP profiles
    • LP profiles
    • GP news
    • LP news
    • Sponsors search
    • LPs search
  •  
    Secondaries
    • Deals
    • Funds
    • News
    • Analysis
  •  
    People
    • People moves
    • Analysis
    • In Profile
    • Q&A
    • Videos
    • Comment
  •  
    Analysis
    • In Profile
    • Fundraising
    • Q&A
    • Comment
    • Videos
    • Podcast
    • Reports
    • Data Snapshots
  •  
    Unquote Data
    • Deals search
    • Exits search
    • Funds search
    • Sponsors search
    • Advisers search
    • LPs search
    • League tables
    • Reports
  • Sign in
  • Sign in
    • You are currently accessing unquote.com via your Enterprise account.

      If you already have an account please use the link below to sign in.

      If you have any problems with your access or would like to request an individual access account please contact our customer service team.

      Phone: +44 (0)203 741 1137

      Email: Georgina.Lawson@acuris.com

      • Sign in
     
      • Newsletters
      • Account details
      • Contact support
      • Sign out
     
  • Follow us
    • Twitter
    • LinkedIn
  • Free Trial
  • Subscribe
Unquote
Unquote
  • Home
  • Regions
  • Deals
  • Funds
  • GPs & LPs
  • Secondaries
  • People
  • Analysis
  • Unquote Data
  • You are currently accessing unquote.com via your Enterprise account.

    If you already have an account please use the link below to sign in.

    If you have any problems with your access or would like to request an individual access account please contact our customer service team.

    Phone: +44 (0)203 741 1137

    Email: Georgina.Lawson@acuris.com

    • Sign in
 
    • Newsletters
    • Account details
    • Contact support
    • Sign out
 
Unquote
  • Venture

Bancroft launches third CEE fund

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  

Fund

Bancroft Group is raising its third fund dedicated to Central and Eastern Europe, Bancroft 3 LP. The London-based fund has a target of EUR250m. It is a Jersey limited partnership with a 10-year lifespan and usual extension provisions.

In 1996, Bancroft launched the Bancroft Eastern Europe Fund LP, which made seven investments in media, telecommunications, and manufacturing in Hungary, the Czech Republic, Romania and in a pan-European company. Six years later, in November 2002, Bancroft II LP was launched, a fund targeting the same region as Bancroft I with the addition of Turkey.

Investors

The minimum subscription is set at EUR10m and the International Finance Corporation (IFC), a member of the World Bank Group, has proposed to invest equity up to EUR30m, which should not exceed 20% of the fund's total commitment.

Investments

Bancroft 3 is a generalist vehicle that will focus on investments in mid-size companies with enterprise value between EUR50-150m across CEE, Greece and Turkey. It intends to make two to three investments per year seeking controlling stakes for between EUR20-35m equity investments. The fund does not rule out co-investing, but it would try to do so as a lead investor. The core exit strategy consists of trade-sale, but the vehicle does not exclude IPO and secondary buyouts.

People

The new vehicle will be managed by a team of seven partners, headed up by the Bancroft Group's founder, Fred Martin. The team will include one partner based in Prague and three in Budapest, including Tamas Szalai. Each of these partners has worked at Bancroft for over six years. There will also be a partner based in Istanbul, who joined the group two years ago, and Agis Hiliarhopoulos will head the firm's new Athens office seeking new opportunities in the wider Balkan region. At least one more partner is expected to join the team in the near future.

Name: Bancroft 3 LP

Target: EUR250m

Launched: April 2008

Focus: Expansion, buyout

Contact: Fred Martin

Address: 195 Brompton Road, London, SW3 1NE, UK

Tel: +44 20 7823 9222

Fax: +44 20 7589 3442.

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  
  • Topics
  • Venture
  • CEE

More on Venture

Final closes of private equity funds in euros
Bewater Funds nears EUR 7m close for second fund, aims to back 20 companies in next four years

Bewater II FCRE takes minority stakes (5%-25%) with tickets of EUR 500,000-EUR 2m, and it has already made three investments.

  • Funds
  • 01 June 2023
Early stage seed investments
Moonfire Ventures raises USD 115m to back early-stage startups in Europe

AI-powered VC firm has raised USD 90m for Fund II and USD 25m for its Opportunity Fund to double down on winners

  • Venture
  • 24 May 2023
First and final closes of private equity impact funds in US dollars
Hamilton Lane targets global impact opportunities with new USD 370m fund

Asset manager’s new fund will make direct investments and can take larger stakes than its USD 95m predecessor

  • Funds
  • 24 May 2023
Tech funds
Bregal Milestone closes second tech fund on EUR 770m

European technology investor has around 60% dry powder remaining to deploy in its latest fund

  • Technology
  • 22 May 2023

Latest News

Final closes of private equity funds in euros
  • Funds
Bewater Funds nears EUR 7m close for second fund, aims to back 20 companies in next four years

Bewater II FCRE takes minority stakes (5%-25%) with tickets of EUR 500,000-EUR 2m, and it has already made three investments.

  • 01 June 2023
The Unquote Private Equity Podcast
  • GPs
Unquote Private Equity Podcast: In conversation with... Fabio Ranghino, Ambienta

In an interview with Unquote, Ranghino discusses topics including ESG and the next phase of Ambienta’s growth

  • 31 May 2023
Fundraising in euros
  • Funds
Qualium closes third flagship fund on more than EUR 500m

French mid-cap GP began marketing the fund in summer 2021; it has deployed EUR 220m to date

  • 31 May 2023
RFID reader module and tag
  • Exits
SGT Capital to acquire Summit-backed Elatec for EUR 400m

Mid-market sponsor looks to grow company via “continued technical innovation” and international expansion

  • 31 May 2023
Back to Top

Most read

Final closes of private equity funds in euros
Bewater Funds nears EUR 7m close for second fund, aims to back 20 companies in next four years
The Unquote Private Equity Podcast
Unquote Private Equity Podcast: In conversation with... Fabio Ranghino, Ambienta
Fundraising in euros
Qualium closes third flagship fund on more than EUR 500m
RFID reader module and tag
SGT Capital to acquire Summit-backed Elatec for EUR 400m
Niamh Whooley of Pemberton
Pemberton hires head of Sustainable Investing
  • About Unquote
  • Advertise
  • Contacts
  • About Acuris
  • Terms of Use
  • Privacy Policy
  • Group Disclaimer
  • Twitter
  • LinkedIn

© Merger Market

© Mergermarket Limited, 10 Queen Street Place, London EC4R 1BE - Company registration number 03879547

Digital publisher of the year 2010 & 2013

Digital publisher of the year 2010 & 2013