Euroventures Ukraine Fund II (EUF II) recently announced an investment in the Ukrainian supermarket sector after reaching a deal with Lutsk-based Avanta. The agreement gives EUF II a 30% stake in Avanta, which will use the capital to spur new growth and finance future acquisitions. Avanta was represented during the process by the Law Offices of OMP; LLC Law LP and Andriy Kravets and Partners represented EVU II.
Avanta
Avanta is a supermarket operator in western Ukraine operating under the Kolibris and NASH! brand names. Combined, the two chains represent 23 operational supermarkets covering 30,000 square metres of floor space. Late last year Avanta announced a possible merger with Pacco, another Ukrainian retailer operating more than 80 supermarkets and cash & carry stores under the Volpac and Pacco brand names.
EVU Management / Euroventures Ukraine Fund II (www.evu.kiev.ua)
Established in 1998, Euroventures Ukraine is one of the leading private equity firms in the Ukraine, managing three funds with a combined value of more than USD $182 million.
EUF II is the second of two private equity funds managed by Kyiv-based EVU Management Ltd., which also acts as Investment Advisor to the Ukraine Opportunity Trust PLC. The fund is focused primarily on businesses that are either located in or carry on the bulk of their business in Ukraine.
The firm prefers to invest USD $5 million to USD $20 million in portfolio companies willing to allow them an active role in influencing daily operations. At times Euroventures Ukraine works with other investors through syndication in order to secure larger funding. Euroventures Ukraine invests across all sectors with an average horizon of four to six years.
EUF II is the second of two private equity funds managed by Kyiv-based EVU Management Ltd., which also acts as Investment Advisor to the Ukraine Opportunity Trust PLC. The fund is focused primarily on businesses that are either located in or carry on the bulk of their business in Ukraine.
11/07/2010
Central & Eastern Europe, Investment, Private Equity News, Retail Industry, Ukraine