Private capital fund managers deployed USD2b in Central & Eastern Europe (CEE) in 2020; USD1.1b went to venture investments, followed by growth equity and buy-out transactions. It was a record year for exits, with USD5b in public market activity and USD7.8b in total exit value.
GPCA’s research on CEE includes Turkey, Russia and neighboring CIS markets.
An archive of CEE research reports can be found here.
Members can access GPC Analytics for a ten-year archive of CEE private capital transactions and data cuts.
Research Team
Katherine Stepanian, Senior Analyst
Central & Eastern Europe Research
CEE 2021 Data Insight
March 31, 2021Total CEE exit value disclosed to EMPEA reached USD7.8b in 2020, bolstered by public markets transactions Total exit value in Central & Eastern Europe (CEE)—inclusive of Turkey, Russia, and neighboring… Read More
CEE & CIS Data Insights (Mid-Year 2020)
September 10, 2020EMPEA Members can log in to receive exclusive access to the full detailed report (PDF) and underlying data (Excel). Buyout-focused GPs raised USD783m for CEE & CIS in 1H 2020, becoming poised… Read More
Central & Eastern Europe News
Drive Capital Leads USD24m Series B for Armenian Edtech Sololearn
Drive Capital led a USD24m Series B for Sololearn, an Armenia-founded mobile-first learning platform for coding, with follow-on from Learn Capital and Prosus Ventures. Read More
Atmos Ventures and ARIA Lead USD6.7m Series A for Polish Cybersecurity Startup Nethone
Atmos Ventures and ARIA led a USD6.7m Series A for Nethone, a Poland-based cybersecurity startup focused on preventing fraud in remote channels, with participation from Plug and Play Ventures and… Read More
Almaz Capital Leads USD6m Round for Latvian Audio Startup Sonarworks
Almaz Capital led a USD6m round for Latvia-based audio technology startup Sonarworks, with participation from Karma Ventures, Trind Ventures, Proks Capital, Smart Growth VC, Wiser Financial Advisors OÜ and angel… Read More
Insight Partners Invests USD32m in Cyprus’ LearnWorlds
Insight Partners invested USD32m in LearnWorlds, a Cyprus-based, cloud-enabled platform for creating, selling and promoting online courses. Read More
Winter Capital Partners, VNV Global and UNIQA Ventures Invest USD26m Series B for Russia’s BestDoctor
BestDoctor, a Russian medical health insurance and medical consultation provider, raised a USD26m Series B from Winter Capital Partners, VNV Global and UNIQA Ventures. Read More
OTB Ventures Reaches USD60m Final Close for CEE Fund
OTB Ventures reached a USD60m final close for OTB Growth Fund I. The vehicle will make follow-on investments to scale up portfolio companies and will continue to back technology businesses… Read More
EQT Ventures Leads USD7.9m Seed Round for Estonian Nature Tokenization Platform Single.Earth
EQT Ventures led a USD7.9m seed round for Single.Earth, an Estonia-based tokenization platform for forests, wetlands and other planetary resources to generate profit for landowners by selling them as carbon… Read More
Horizon Capital Invests in Ukrainian Dollar Store Retail Chain Avrora
Horizon Capital, through its Emerging Europe Growth Fund III, acquired a minority stake in Ukraine-based dollar store retail chain Avrora for an undisclosed amount. Read More
SoftBank to Invest USD130m in Polish Footwear Retailer eobuwie
SoftBank, through its SoftBank Vision Fund 2, agreed to invest USD130m in the form of convertible bonds in Poland-based online footwear and accessories retailer eobuwie. Read More
Index Ventures Leads USD119m Series C for Czech Food delivery startup Rohlik
Index Ventures led a EUR100m (USD119m) Series C for Czech Republic-based food delivery startup Rohlik, with follow-on from Partech and Quadrille Capital, at a reported EUR1b (USD1.2b) valuation. Rohlik raised… Read More
Index Ventures and Makers Fund Lead USD155m Series B for Turkish Mobile Gaming Startup Dream Games
Index Ventures and Makers Fund led a USD155m Series B for Turkey-based mobile gaming startup Dream Games, with participation from Balderton Capital, IVP and Kora. Dream Games raised a USD50m… Read More
Venrock, CoinFund and 01 Advisors Invest USD14.2m Series A for Russian NFT Marketplace Rarible
Venrock, CoinFund and 01 Advisors invested USD14.2m Series A for Rarible, a Russia-based non-fungible token (NFT) marketplace. Read More