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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 2010source: http://www.pmrconsulting.com/pl/static_content/Kraje.shtml
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 Till 2005: internet media and internet enablersNATIONAL CHAMPIONS: 2005 – 2010REGIONAL CHAMPIONS: 2010+GLOBAL CHAMPIONS:
91. 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+ EUR2. 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 IPOs3. 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 / LifeNet IRR on MCI portfolio Science, Sucession Cases , Opportunisticin period 01.01.1999 –30.06.2011(bas ed on bookvaluation as of 23,5%30.06.2011)** includes management costs (MCI OPEX) from period 01.01.1999 – 30.06.2011
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: firstname.lastname@example.org www.mci.eu