By Andrei Skvarsky.
Guernsey-based private equity company Da Vinci Capital has sold a majority stake in software developer Global Fintech Solutions (GFS) to the Prytek investment firm in what has been described as “one of the fastest exits” in Da Vinci’s history.
According to a joint statement from Da Vinci and Prytek, the sale makes Da Vinci a minority shareholder in GFS, an emerging markets-focused investment company and financial technology developer with offices in Luxembourg, Moscow and Tel Aviv.
Da Vinci bought its controlling stake in GFS in 2018.
“We realised one of the fastest exits in our history, having invested only in 2018. Partial exit allows us to receive profits and show positive returns,” the statement quoted Da Vinci managing partner Oleg Jelezko as saying.
Da Vinci typically makes mid-market private equity investments in Central and Eastern Europe and other emerging markets. It has more than $400m of assets under management and has numerous companies in its portfolio.
EPAM Systems and Moscow Exchange are among companies that Da Vinci has exited recently.
Da Vinci has offices in London, Moscow and Hong Kong besides its head office in Guernsey.
GFS is an investment firm and a provider of software for banks, asset management companies, brokerages, insurers and non-financial companies.
Prytek invests in technology companies in financial, human resources and artificial intelligence services and in cyber, education and media sectors. Headquartered in Singapore, the company also has offices in Moscow, Israel, India, Poland and Britain.
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