Europe Virgin Fund
The Europe Virgin Fund is a regional private equity fund sponsored by Dragon Capital with target size of $150 million. The Fund shall provide equity financing to up to a dozen of private sector businesses with primary operations in Ukraine, Belarus and Moldova, in particular, in fast-moving consumer goods, retail, industrial, telecom, media, technology, pharmaceuticals, construction materials and financial services sectors.
To date, Europe Virgin Fund has raised $57 million, having received commitments from Dragon Capital, the European Bank for Reconstruction and Development, the Swiss Investment Fund for Emerging Markets, the Black Sea Trade and Development Bank and other limited partners.
In June 2011, the Fund acquired majority stake in Ukraine’s leading manufacturer of hygiene products – Lutsk-based VGP (TM ‘Ruta’). The company is a major producer of toilet paper, paper towels, napkins and hankies located in Lutsk, western Ukraine. VGP has approximately 20% market share of tissue paper products in Ukraine, enjoys strong market positions in Belarus and Moldova and is present in most other CIS markets.
In October 2011, the Fund took a controlling stake in one of Ukraine’s leading outdoor advertising companies – Prime Group. The company was established in 2009 and today is a leading outdoor advertising operator in Kyiv, the capital city of Ukraine, managing more than 2,000 own advertising faces.
Key Characteristics of the Fund
Fund: Europe Virgin Fund L.P.
Fund type: Private Equity Fund
Target fund size: $150m
Target final closing: 2012
Key participants: Dragon Capital, EBRD, Swiss Investment Fund for Emerging Markets (SIFEM), Black Sea Trade and Development Bank
Regional focus: Ukraine, Belarus, Moldova
Strategy: private sector medium-sized businesses with high growth potential
Industry focus: FMCG, retail, industrial, telecom, media, technology, pharmaceuticals, construction materials and financial services
Investment style: active management
Investment horizon: medium to long-term
General partner: Dragon Private Equity Partners Ltd.
Fund domicile: Isle of Man
Auditor: KPMG
Eligible investors: sophisticated investors
For more information, please contact us at evf@dragon-capital.com
Europe Virgin Fund Announcements
03.11.2011 – EVF Invests in Prime Group and Welcomes BSTDB as a New Investor
06.07.2011 – Europe Virgin Fund Acquires Controlling Stake in Ukraine’s Leading Hygiene Products Manufacturer (TM ‘Ruta’)
31.08.2010 – Dragon Capital Raises $45 Million in the First Closing of Europe Virgin Fund
