Russia

Investment approach

We are a leading private equity manager in Russia. Since 1995, we have helped Russian entrepreneurial SMEs grow into domestic champions or expand their operations internationally. We are committed to building successful businesses by and for the Russian middle class.

We invest in Russia’s middle class

Local networks powered by an international mindset

As one of the most stable and experienced foreign private equity investors in Russia, we are responsible for executing more than 40 investments. We invest mainly in small and mid-sized enterprises in sectors that benefit from Russia’s domestic demand. As part of our investment process, we devote considerable time and effort into identifying sectors and individual companies with the most growth potential. With our help, companies are able to grow from regional players into domestic champions. We also support international expansion. Our approach combines local networks and knowledge with an international mindset and the tenacity that is required to be successful in Russia.

20

years of experience in Russia

30

exits with solid track record

We invest in future champions

Despite having varying industrial backgrounds, our portfolio companies share the following attributes:

  • Clear growth potential organically or through acquisitions in Russia or internationally
  • Investment opportunities in provincial growth centres
  • Professional, entrepreneurially minded management teams committed to Western-style management practices

Our value creation roadmap is drawn for Russian enterprises

We follow three distinct approaches for maximum value generation in our portfolio companies:

1

We utilise our strong networks across Russia to help our portfolio companies expand their business, either organically or through add-on acquisitions.

2

We implement IFRS accounting and high standards of corporate governance and transparency in all our portfolio companies.

3

We utilise the knowledge and experience of CapMan’s extensive network of industry advisors.

Kidburg

The house of fairytales became a successful business idea

Kidburg’s main target is to grow to the largest edutainment provider in Russia.

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KDL Test

Expanding national footprint in the fast growing healthcare market in Russia

KDL was founded in 2003 in a small town near the Ural Mountains. Today KDL is the second largest service provider in the retail sector and the number one in B2B sector in Russia.

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Inmarko

Selling ice cream in Siberia

After CapMan joined in 2003, the first target was to expand Inmarko’s presence in the European part of Russia.

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