PE and VC Investment In CEE Is At an Eight-Year High

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Private equity and venture capital investments into companies in Central and Eastern Europe reached a total of €1.6 billion in 2016 — the highest amount since 2009, according to recent Invest Europe’s data.

“Private equity activity in Central and Eastern Europe was strong in all key areas last year — investments, divestments and fundraising — demonstrating a vibrant market with robust interest from GPs and LPs,” says Robert Manz, managing partner at Poland’s Enterprise Investors and chairman of Invest Europe’s Central and Eastern Europe Task Force. “The region’s fund managers are hard at work, maximising buying and selling opportunities, while institutional investors are showing a renewed appetite for the region,” he adds.

Investment capital was most focused on Poland, followed by the Czech Republic, Lithuania, Romania and Hungary, respectively. Consumer goods and services was the most targeted sector, attracting 23 per cent of the investment value, while information and communication technology (ICT) was a close second with 22 per cent.

“The CEE region performed well compared to Europe overall, but measured in terms of private equity investment versus GDP, CEE still remains under-penetrated, at just 0.12 per cent on average versus the European average of 0.329 per cent. This indicates the continuing growth potential of the CEE market,” Mr Manz tells Emerging Europe.

The amount of the CEE region’s total private equity fundraising rose 62 per cent year-on-year to €621 million in 2016, as larger fund managers returned to the market, and in line with a Europe-wide increase in fundraising for the asset class. European investors from outside the CEE region provided 58 per cent of the total capital raised, while funding from investors outside of Europe grew nearly nine-fold, notably from the US. Long-term private investors contributed 43 per cent of the overall fundraising amount, with funds-of-funds, the largest source of capital, accounting for 27 per cent, followed by pension funds with 16 per cent.

The total number of companies, divested in CEE, increased to a record high of 112 in 2016, mainly driven by the exits of venture-backed companies. Sale to another private equity house — the secondary market — took over as 2016’s most used exit route, in terms of amount; accounting for €476 million of value at historical investment cost and 46 per cent of the region’s total divestment value. Trade sale remained the most common route in terms of the number of companies divested at 37. Poland was the largest market in the region for exits, at 35 per cent of divested amount at cost, followed by the Czech Republic, while ICT was the region’s most important sector for divestments, including two out of the four largest exits last year.

“2017 is shaping up to be another strong year for the CEE private equity industry,” Mr Manz tells Emerging Europe. “Data is not yet available, but based on the observed activities of private equity managers, we believe there should be an increase in all key three areas of fundraising, investing, and exiting, that across the region, compared to last year. Some large and well-publicised private equity transactions have already taken place in 2017, both on the investment side and the divestment side. We also expect fundraising for the region will grow, yet again, in 2017 as investors are attracted by the strong macro-economic performance and prospects of the region, and due to more fund managers actively fundraising,” he adds.

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Warsaw City Guide: 48 Hours in Poland’s Reborn Capital

WARSAW POLAND - DECEMBER 28 2016: Downtown Warsaw Financial center in Warsaw Poland. Warsaw is one of the most economical successful capital in Europe in last few years.

Emerging Europe Looking Good in Best-Performing Cities Index

Budapest, Hungary. Aerial view of the old city Budapest, Hungary with river and Parliament Building with cloudy blue sky

Czech Land Prices Continue to Increase

farm land

Chickens Blamed for Romanian Budget Deficit

Two white chickens or hens inside a chicken coop or hen house seen through chicken wire.

Slovenia is the CEE region’s leader in VAT collection

Valga and Valka – Where Estonia and Latvia Work Together

Valga valka emerging europe

World Bank: Western Balkans Need to Speed Up Growth For Faster Convergence

world bank

Poland Is Set To Become a Large Economic Zone

Aerial view over the building materials processing factory. View from above.

Emerging Europe’s Economies Are Booming

Japanese PM Announces Western Balkans EU Initiative

TOKYO JAPAN - Apr 06 2016: Japanese Prime Minister Shinzo Abe during his meeting with President of Ukraine Petro Poroshenko in Tokyo

Hungary’s Solar Dreamer

hand sun and blue sky with copyspace showing freedom or solar power concept

Regional News Outlets: The Real Target of Poland’s New Media Law?

poland media

Moldova Launches New e-Procurement System In Search For Positive Change

Photo team work process, holding contract hand, signs documents. Account managers young crew works with startup project.New idea presentation, analyze marketing reports.Blurred, film effect, horizontal.

Euroscepticism in Serbia: An Image Problem?

Chris Lowney — What Jesuit Spirituality Can Teach Us About Global Leadership

CEE Boosted by Positive Tourism Trends Across the Region

cruise ship in Kotor Bay Montenegro. Aerial view panorama. Kotor bay Montenegro.

Bulgaria’s cooperation with Israel could boost the economy

Ukraine Is Offering Europe Unique Combat and Technological Experience

Romania Can Still Provide Stability Within the EU

BUCHAREST, ROMANIA - 05 February 2017: More than 240,000 protesters in Victory Square (Piata Victoriei). "Torches" moment. At 09:00PM Romanian protesters shone torches on their phones.

Bulgarian Capital Pulls Above Its Weight

sofia

Investment in Croatia’s Regions Key to Further Development

CAKOVEC, CROATIA - JULY 02: Parish Church of Saint Nicholas in Cakovec, Croatia, on July 02, 2016.

What Went Wrong in Ukraine – And When?

Serbia Drafts New Competition Law

serbia belgrade flag

Bulgaria Takes on EU Presidency

Sofia, Bulgaria - September 12, 2017: Architectural complex in downtown of Sofia in which the Presidential Administration is located, Sofia, Bulgaria

Visegrád Divided

visegrad

Automotive and Transport Companies Dominate the CEE Region

Car bodies on the production line inside automobile factory

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