Da Vinci Private Equity Fund II Acquires a Controlling Stake in Online Broker IT Invest (CEE and CIS)

Source: Da Vinci Capital

Da Vinci Capital, an independent asset manager focusing on mid-market private equity investments in Russia and the Commonwealth of Independent States, has acquired a controlling 63 percent stake in Russia-based IT Invest, a provider of online brokerage services. The transaction was structured through Da Vinci Private Equity Fund II, which held a first close with US$100 million in capital commitments in January 2014. Diversified financial holding company Russian Funds Investment Group and company management hold the remaining 37 percent stake in IT Invest. The new backing will support company development via increasing the company’s capital to RUB350 million (approximately US$9.9 million). Financial details of the transaction were not disclosed.