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    © Lakestar 2011
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    © Lakestar 2011
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    © Lakestar 2011
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




   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 enablers
NATIONAL CHAMPIONS:



 2005 – 2010
REGIONAL CHAMPIONS:



 2010+
GLOBAL CHAMPIONS:
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




                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




     © Lakestar 2011

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CEE Private Equity Landscape Overview

  • 1.
  • 2. 2 © Lakestar 2011
  • 3. 3 © Lakestar 2011
  • 4. 4 © Lakestar 2011
  • 5.
  • 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