As a private equity fund manager it is our priority to increase the value of our portfolio companies. We invest in the fastest-changing industries such as consumer products and services, IT, financial services, telecoms and healthcare. In the process, we continually refine our investment approach in line with developments in Central and Eastern Europe.
Who we are
Enterprise Investors is the oldest and one of the largest private equity firms in Central and Eastern Europe. We specialize in mid-market succession-driven buyout transactions and provision of expansion financing to high-growth enterprises across a range of sectors. Active since 1990, we have raised nine funds with total capital exceeding EUR 2.5 billion. These funds have invested EUR 2 billion in 146 companies.
We pursue a diversified approach to the industries we invest in. Since 2017 we have been investing the capital of Polish Enterprise Fund VIII. This fund, like its predecessors, finances mid-market buyouts and growth companies in sectors driven by the convergence of CEE’s domestic consumption with the “old” EU, such as consumer products and retail, financial services, and healthcare. PEF VIII also invests in sectors driven by CEE’s growing internationalization and competitive cost position, including IT, industrial products, and business process outsourcing. Poland accounts for approximately two-thirds of all the investments made by the firm, with the remainder invested across the growing economies of the “new” EU.
Enterprise Investors has exited 134 companies with total gross proceeds of EUR 4.1 billion. This number includes 35 IPOs of portfolio companies completed on the stock exchanges in Warsaw (WSE), Prague (PSE), Vilnius (Nasdaq) and New York (NYSE).
We specialize in proprietary deal sourcing. Our team of close to 40 investment professionals – the most experienced in the region – provides a unique combination of skills and expertise, and has a track record of consistent performance. The firm operates through six offices located in Warsaw, Bratislava, Bucharest, Prague, Zagreb and New York.
How we operate
At Enterprise Investors we combine industry expertise with local market experience. Central to our approach is an emphasis on creating sustainable value that will withstand the test of time. We are prudent in our investment strategies and use leverage conservatively. We invest between EUR 20 million and EUR 75 million in established companies. Our stake ranges from a large minority position to full ownership and we take a long-term perspective, our involvement typically lasting between five and eight years.
We commit our full range of resources to the success of each portfolio company. Partnering with management teams, we help companies formulate strategy, conceptualize and implement optimal financing structures and recruit top executive talent. Our investment team builds direct relationships with portfolio companies and provides hands-on support via supervisory board positions. We bring about lasting change, preparing companies for success even beyond our investment horizon.
We follow a policy never to invest in enterprises engaged in activities that are harmful or detrimental to the local and global society, environment or economy. But our commitment to responsible investing extends significantly beyond this formal limitation. In particular, we continue to develop environmental, social and governance awareness (ESG) within the investment team and across our portfolio companies, embedding internal processes to support fulfillment of this goal. For us, ESG is a crucial factor influencing decisions at all stages of the investment process. We aspire to make a positive impact on the environment, society and individuals that EI and its portfolio companies interact with or influence.
Refining our approach
Having established five banks, including Poland’s first mortgage bank, Enterprise Investors laid the foundations of the Polish financial services market. Our firm has also supported the development of Poland’s capital markets, floating more companies on the Warsaw Stock Exchange than any other PE investor active in the region. Many of EI’s portfolio companies – such as AVG Technologies, Kruk, LPP, PBKM and intive, to name a few – have grown to become regional and international leaders.
We proudly support initiatives that shape the highest business standards of the region’s economies, not least as co-founders and active members of key private equity industry organizations in Poland, the Czech Republic, Hungary, Romania, Slovakia and countries of southeastern Europe. Our success in combining investment efficiency with a positive impact on local communities has earned us widespread trust and respect.
Enterprise Investors’ contribution to Poland’s political and economic transformation has been recognized by the foremost public figures of the last three decades. We are honored that our company’s leaders have been decorated with the highest state awards by Polish presidents Lech Wałęsa, Aleksander Kwaśniewski, and Bronisław Komorowski. Crucially, we remain motivated by the strong belief we have in our continued future success.
Foundation of Polish-American Enterprise Fund
Polish-American Enterprise Fund’s first investment in Poland
EI raises Polish Private Equity Funds I & II with total capital of USD 151 million
First IPO of a company from EI’s portfolio on the WSEPPABank
EI raises Polish Enterprise Fund with USD 164 million in capital
EI’s first investment outside PolandOrange Romania
EI raises Polish Enterprise Fund IV with USD 217 million in capital
First investment in SlovakiaOrange Slovakia
First investment in BulgariaBulgarian Telecommunications Company
EI raises Polish Enterprise Fund V with capital of EUR 300 million
EI opens an office in Bucharest
First investment in the Czech RepublicAVG Technologies
EI raises Polish Enterprise Fund VI with capital of
EUR 658 million
EI opens an office in Bratislava
First investment in LithuaniaNovaturas
EI raises Enterprise Venture Fund I with total capital of EUR 100 million
EI opens an office in Prague
First investment in HungaryNetrisk.hu
First investment in EstoniaNortal
EI opens an office in Budapest
First IPO on the NYSE of a company from EI’s portfolioAVG Technologies
EI raises Polish Enterprise Fund VII with capital of EUR 314 million
First IPO on the Prague Stock Exchange of a company from EI’s portfolioKofola ČeskoSlovensko
First investment in SloveniaIntersport ISI
EI raises Polish Enterprise Fund VIII with total capital of EUR 498 million
Thirty-fifth IPO from EI’s portfolio and the first on Nasdaq VilniusNovaturas
First investment in Croatia
EI opens a Zagreb office covering the entire Adria region