2. 2
© Lakestar 2011

3. 3
© Lakestar 2011

4. 4
© Lakestar 2011

6. 6
 19 countries (10 of them in EU + 4 EU candidates); 182 M
people; 16 currencies; 21 languages; 14 countries with
population under 10 M people
 CEE’s population (182 M people) and GDP (about 1,250 bn EUR
– own est.) is comparable to Russia’s ones (139 M people and
1,113.8 bn EUR)
 Poland’s population accounts for only about 20% of the
population of the area, but its input in the region’s GDP share is
as much as 33%; Poland was by far the largest private equity
investment market in CEE, accounting for more than half of the
total amount invested in the region
 3 - 8% GDP growth in the past 10 years, with 4 - 6% expected
growth in the next 5 years (10 EU members +
Ukraine, Serbia, Moldova, Bosnia and Herzegovina)
http://www.databasece.com/Database/gdp.htm
 POLAND – GDP: 415.2 bn EUR / + 3.9% (2011); 38.2 M people; Internet penetration: 63%
(2010, acc. to IAB); 657 M EUR of PE investment in 2010
 CZECH REPUBLIC - GDP: 143 bn EUR / + 2,6% (2011f); 10.5 M people; Internet penetration:
61% (2010, acc. to IAB); 193 M EUR of PE investment in 2010
source: http://www.pmrconsulting.com/pl/static_content/Kraje.shtml

7. 7
 Started after economic transformation in 1991  Started around 1998
 Majority driven by US/West European Private  4 major players: Intel Capital, MCI, Enterprise
Equity teams with global fundraising base Investors, Benson Oak
 Growing role of local / regional players: eg.  Currently driven by regional champions
Penta, MCI development
 Currently driven by LBO cases, Growth Capital  Limited participation of West European VC
case

8. 8
 Till 2005: internet media and internet enablers
NATIONAL CHAMPIONS:
 2005 – 2010
REGIONAL CHAMPIONS:
 2010+
GLOBAL CHAMPIONS:

9. 9
1. Established in 1999 by Tomasz • Since 2008 quadrupling equity from 30 M EUR to 125 M EUR
Czechowicz • Since 2008 tripling AUM from 75 M EUR to 200 M+ EUR
2. One of most experienced • Top global and local institutional investors present:
groups managing PE/VC funds Blackrock, Pioneer, PZU, Millennium, Aviva, IBM Pension Trust, etc.
in CEE • 46 investments till now; 20 full exits; 8 IPOs
3. AUM exceeds PLN 823 M (30 • 9 partners; key partners:
June 2011)
4. Market Capitalisation: PLN 448
M (30 June 2011)
5. Established fundraising
channels:
• public markets (stocks and
bonds placed to
international investors, local
financial institutions, mutual
funds, pension funds) Tomasz Czechowicz
Group
Konrad Sitnik
Senior Partner
Sylwester Janik
Partner
Grzegorz Gromada
Venture Partner
Jacek Murawski
Venture Partner
Piotr Pajewski
Venture Partner
• Polish State cooperation Managing Partner MCI.EuroVentures
Fund Manager
MCI.TechVentures
Fund Manager
MCI.BioVentures
Fund Manager
Internet Ventures
Fund Manager
Helix Ventures
Partners Fund
(KFK – National Capital Manager
Fund) • Early Stage capital 0.5-2.5 M EUR – Mobile Internet, Social Media &
• European Union Commerce, Cloud Computing, Life Science, Healthcare
• Private banking relationships • Venture Capital 2.5-10 M EUR – e-Commerce, Mobile Internet, Digital
• Bank debt financing and Entertaiment
non-public bond issues • Growth Capital : 10 M+ EUR - TMT, Retail, Distribution, Healthcare / Life
Net IRR on MCI portfolio Science, Sucession Cases , Opportunistic
in period 01.01.1999 –
30.06.2011
(bas ed on book
valuation as of
23,5%
30.06.2011)*
* includes management costs (MCI OPEX)
from period 01.01.1999 – 30.06.2011

10. 10
MCI Management SA
Warszawskie Centrum Finansowe
ul. Emilii Plater 53, 00-113 Warszawa, Poland
tel. +48 22 540 73 80, fax +48 22 540 73 81
e-mail: office@mci.eu
www.mci.eu

11. 11
© Lakestar 2011