Da Vinci Capital Technology Fund III received a €30m investment from German development finance institution DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH.
DEG will be an anchor investor in a new emerging market technology fund managed by Da Vinci Capital. The new fund will invest in high growth technology companies with operations in the non-Russian republics of the former Soviet Union and other emerging European markets.
Established in 2008, Da Vinci Capital Management www.dvcap.com is an emerging markets private equity manager with over $400m assets under management. Led by managing partner Dennis Fulling, the firm adds value to its portfolio companies by partnering with company founders to improve corporate governance, financial performance, merger and acquisitions, capital structure and environmental and social policies.
Recent exits include EPAM Systems Inc. (NYSE: EPAM) and PJSC Moscow Exchange (MCX: MOEX). The current portfolio investments include global custom software developer DataArt; mobile ridesharing service Gett; hedge fund, exchange traded fund and alternative investment platform ITI Funds; financial technology and trading broker ITI Group; electronic procurement platform B2B Center; collection agency First Collection Bureau; information technology services provider Softline; and other companies.