Dunedin Enterprise gets cash for Innova – Dunedin Enterprise Investment Trust has announced the realisation of its investment in Innova/5 LP, the private equity fund based in Warsaw which makes investments in Central Eastern Europe. This follows on from the recent realisations of Kee Safety, Alpha FMC and Blackrock PM.
The holding in Innova was valued at GBP8.7m as at 30 September 2017, the last published valuation. Total proceeds have been received of GBP9.1m, an uplift of GBP0.4m which equates to 2.1p per share.
The board, after reviewing outstanding commitments, intends to announce in January a further return of capital to shareholders.
Innova Capital is a leading mid-market private equity firm in Central Europe. Founded in 1994 Innova raised the first major CEE fund comprising entirely of private capital. Since then Innova has invested almost € 700 million, in almost 50 companies, across 10 countries in the region. In 2010 Innova won the CEE Fund of the Year Award presented by Unquote magazine for its fifth fund Innova/5. The fifth edition of the “Private Equity Diamonds” Competition in 2016, under the patronage of the Polish Private Equity and Venture Capital Association, gave Innova two prizes in the following categories: (PE Portfolio Company of 2015 – Grupa Wirtualna Polska and Fund of the Year 2015).
DNE : Dunedin Enterprise gets cash for Innova