Zubr Capital to start raising $100-150m fund in mid-2021

Agne Mazeike
13 April 2021

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Belarus-based private equity firm Zubr Capital plans to start fundraising its new $100-150m fund in mid-2021, managing partner Nikolay Shestak told Unquote.

The company will aim to have a mix of local family offices and European institutional investors among its investors, Shestak said. It already has some soft commitments and intends to complete the first closing of its Zubr Capital Fund II by the end of 2021, he added.

The company expects to involve a legal adviser for the first closing, Shestak said, adding it will choose a firm from its previous contacts. It plans to mandate a placement agent for its second closing and will review proposals from early 2022, he added. The second closing is expected to take place by the end of 2022, Shestak said.

This news service reported last June that the new fund will deploy equity tickets in the range of $5-10m, with a focus on domestic companies operating in the IT and technology space. The fund could also review investment opportunities in Ukraine, the Baltic countries and Poland, Shestak added.

Zubr manages a $91m fund, Zubr Capital Fund I, which was launched in mid-2016 and held a second close in January 2018.

Zubr could make make three or four investments from its existing fund by the end of this year, Shestak said, adding the fund would then be fully invested.