Kala Capital, a Georgian private equity firm, announced the launch of the Georgian Investment Fund. The launching of the fund was presented by the Captain of the Georgian national football team and AC Milan player, Kakha Kaladze, as well as former Prime Minister of Georgia, Zurab Nogaideli, both founders of Kala Capital.
The Georgian Investment Fund will focus on investments within the Georgian economy. Energy, real estate and banking will be the principle investments for the fund.
It will be financed by both foreign and domestic capital and has a target of USD 1.5 billion.
Kala Capital (www.kalacapital.com)
Kala Capital was established to invest in domestic oil extraction, hydroelectric and wind power and general energy research. The firm has expanded its opportunities with the acquisition of the hydro and thermal energy plant construction company Sakhydroenergomsheni in January, 2008.
Based in Tbilisi, Kala Capital has purchased 78 hectares of real estate in the city for construction of a planned community called “Arsenal City.” The community will include a five-star hotel as well as convention facilities and commercial space.
The company also opened its first Progress Bank location in 2008, with plans to expand nationwide to meet the needs of corporate, private and retail clients.
With the Kala Foundation, the firm has donated time and money to the needs of children throughout Georgia.
17/05/2008
Central & Eastern Europe, Energy and Utilities, Environment & Cleantech, Georgia, Investment, Private Equity News