Sandberg Capital closes second private equity fund Sandberg Investment Fund II at EUR109m
Sandberg Capital has closed its second private equity fund – Sandberg Investment Fund II – at EUR109 million. For the first time Sandberg welcomes the European Investment Fund and Tatra banka among its investors.
The investment marks a first for both investors – the first investment by the European Investment Fund in a lower mid-market fund established by a Slovak-based investment manager and the first significant investment by Tatra banka in a private equity fund. Sandberg is also thankful for the continued support of J&T FINANCE GROUP, a core investor in Sandberg’s first fund, who has joined the second fund as well through J&T INVESTMENTS SICAV, J&T BANKA and Poštová banka. The investment team at Sandberg Capital have agreed to fund close to 20 per cent of the fund themselves.
“We are very happy that we have been able to finalise our second fund despite the difficult market conditions caused by the Covid-19 pandemic. We are looking forward to working with the European Investment Fund. Their expertise and mandate to support SMEs is even more important as the European economies need to rebound strongly from the current crisis. We are equally happy to welcome Tatra banka among our investors. The partnership with Tatra banka will help us to promote private equity as both an asset class as well as a source of funding for growing companies in the region,” said Martin Fedor, Sandberg’s founder and managing partner.
The new fund targets investments in small and medium sized companies in the CEE region, with focus on Slovakia and the Czech Republic. Sandberg aims to support ambitious entrepreneurs in their quests to create regional champions and global niche players.
According to Michal Rybovič, a partner at Sandberg: “Although the fund will remain industry agnostic, our experience with technology investments is expected to give the fund an edge as the partner of choice for all companies focused on digital transformation of the economy.”
The Fund benefits from the support of the European Union under the Equity Facility for Growth established under Regulation (EU) No 1287/2013 of the European Parliament and the Council establishing a Programme for the Competitiveness of Enterprises and small and medium enterprises (COSME) (2014-2020). In addition, the Fund also benefits from the backing of the Central Europe Fund of Funds, an initiative created by the European Investment Fund with the support of the EIB and the IIB together with the governments and national agencies of Slovakia, the Czech Republic, Austria, Hungary and Slovenia.