Dubai, UAE - Greenstone Equity Partners, one of the largest independent fund placement firms in the Middle East, announced its collaboration with Europe based iTech Capital ("iTech"), a venture capital ("VC") firm focused on growth investments in digital economy businesses.
iTech are raising capital for iTech Fund II ("Fund"), a $200 mn fund that will invest in core ICT segments such as AdTech, FinTech, SAAS, Online Travel and Big Data. iTech's first fund, iTech Fund I LP ("Fund I"), vintage 2011, a $100 mn fund, has a projected Gross IRR of 35% and has generated a DPI of 10%. New LPs in Fund II will have the opportunity to invest at favorable terms including first refusal rights, with Fund II investors having the opportunity to participate in some of the Fund I follow on investments, and have the opportunity to co-invest on the same or very close to initial terms. A particularly attractive attribute of iTech is their ultra-transparent internal portal that allows LPs to access all data regarding portfolio companies, co-investment opportunities and even trade portfolio positions in a secondary market within the LP network.
The team at iTech is anchored by Managing Partner Gleb Davidyuk, a seasoned professional in the private equity and venture capital industries who has worked for a range of well-established groups including Quadriga Capital, Mint Capital and Alfa Capital Partners since 1995.
"We are delighted to collaborate with iTech due to their robust reputation in delivering remarkable results for their investors. iTech's team of investment professionals are thorough and knowledgeable, with over 50 years of cumulative investment experience and are passionate about creating success," said Omar Al-Gharabally, President of Greenstone Equity Partners. "Owing to the Middle Eastern investor mentality, venture capital investment has become more and more mainstream over the last decade and with this relationship we are confident that we are introducing solid investment opportunities to investors across the region."
"The MENA region has important sources of capital flows and wealth accumulation, and with increased liquidity, local and international investors consider venture capital and all of its sub-sets to be a core part of their investment portfolios," said Gleb Davidyuk, Managing Partner of iTech. "With Greenstone Equity Partners' thorough market knowledge and strong relationships, we believe that we can establish a strong footprint in this region and develop new long-term relationships," he added.
iTech Capital
Founded in 2010, iTech Capital is a venture capital firm focused on growth investments in digital economy businesses. iTech's pioneer fund, iTech Fund I, LP ("Fund I") was established in 2011 and is comprised of equity injections in IT companies in in Central and Eastern Europe, Asia and USA.
Since inception, iTech has been awarded multiple titles, such as Venture Deal of the year in 2013: Venture Awards Russia 2013, and Deal of the Year 2015: Aviasales 2015.
Greenstone Equity Partners
Greenstone Equity Partners is a MENA-focused boutique investment and advisory firm specializing in multi-sector, advisory, fund placement, investment, consulting and deal structuring transactions. Based in Dubai, Greenstone Equity Partner's primary areas of focus are:
- Fund Placement
- Advisory
Greenstone Equity Partners provides its clients with advisory services and access to MENA-based sovereign wealth funds, institutional investors and family offices for primary and secondary placements. Greenstone Equity Partners places a strong emphasis on the geographical capital diversification needs of its MENA-based clients. Greenstone Equity Partners is generally engaged as a sole and exclusive MENA fund placement firm by global top quartile investment banks, asset managers and fund managers from both developed and developing markets.
Contact: Omar Al-Gharabally, Phone Number: +97143827600, Email Address:omar.algharabally@gsequity.com
SOURCE Greenstone Equity Partners and iTech Capital
© Press Release 2015
