February 25 (SeeNews) - Romanian private equity fund Morphosis Capital plans to invest 10-20 million euro ($12-25 million) this year in two local small and medium-sized enterprises (SMEs), it said on Thursday.
Morphosis expects to sign two new deals in 2021, with companies active in healthcare, technology, manufacturing, or B2B services businesses, it said in a press release.
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"In 2021, our ambition is to find more like-minded entrepreneurs with whom together, we can have a real impact not only on their business but also on the Romanian economy as a whole," Morphosis Capital managing partner Andrei Gemeneanu said.
With 50 million euro subscribed capital, Morphosis expects to deploy all the capital from the first fund by mid-2022. The management intends to invest with Morphosis Capital Fund I in four more local companies.
Between 2024 and 2025, the fund anticipates exiting the businesses by listing the portfolio companies on the stock exchange or partnering with regional or global funds. The exit strategy for each portfolio company will depend on the decision taken together with the entrepreneur, it said.
European Investment Fund (EIF) through the Regional Operational Programme, financed by the European Regional Development Fund, is the anchor investor in the Morphosis Capital Fund I. Apart from EIF, investors in Morphosis include Banca Transilvania, family offices from Belgium and the Middle East as well as successful entrepreneurs from Romania and abroad.
Established in December 2018 by four Romanian entrepreneurs, Simona Gemeneanu, Gabriela Dumitru, Dragos Petre, and Andrei Gemeneanu, the fund aims to contribute to the development and transformation of Romanian SMEs.
In 2020, Morphosis took over a majority stake in the medical clinic chain specializing in imaging and radiology Medima Health and a minority holding in Dr Leahu Dental Clinics. Together with the 2019 investment in DocProcess, Morphosis currently has a portfolio of three companies.
($=0.8451 euro)