iTech Capital, a Riga, Latvia and Moscow, Russia-based venture capital firm focused on growth investments in digital economy businesses, is raising a $200m fund.
Founded in 2010 and led by Gleb Davidyuk, Managing Partner, iTech Capital is a venture capital firm focused on growth investments in digital economy businesses. Its maiden fund, iTech Fund I, LP, was established in 2011 and is comprised of equity injections in IT companies in in Central and Eastern Europe, Asia and USA. The $100m fund, has a projected Gross IRR of 35% and has generated a DPI of 10%.
iTech Fund II will target investments in core ICT segments such as AdTech, FinTech, SAAS, Online Travel and Big Data. In the raise efforts, the firm is advised by Dubai-based Greenstone Equity Partners, a MENA-focused boutique investment and advisory firm specializing in multi-sector, advisory, fund placement, investment, consulting and deal structuring transactions.
Gleb Davidyuk is a professional in the private equity and venture capital industries who has worked for a range of well-established groups including Quadriga Capital, Mint Capital and Alfa Capital Partners since 1995.
The iTech team also includes Petr Polyakov, Ilya Balandin, Demid Kutnetsov, and Oxana Samsonova.