After months of speculation, Yandex and Ozon.ru shareholder Baring Vostok Capital Partners (BVCP) has emerged as a potential investor in Russia’s largest software vendor 1C Company, reported business daily newspaper Kommersant. The private equity fund, which is now doing a due diligence of the company, could invest some $100 million in 1C Company, valuing it at $500 million, the newspaper suggested.
ERP and mutimedia software vendor 1C Company, which is controlled by founder and CEO Boris Nuraliev, generated revenues of $450 million and income of $55 million in 2008.
BVCP raised Baring Vostok Private Equity Fund IV with total committed capital of $1.05 billion in February 2007. This was the largest private equity fund in Central and Eastern Europe at the time. The funds under management of BVCP paid cumulative dividends of $1,232 million in 1998 – 2007.
BVCP says that 27% of capital invested by Baring Vostok funds has been into telecommunication, media and technology sectors. BVCP is a major investor in search engine Yandex, online store Ozon.ru, IT services provider for financial institutions CFT, financial risk management software vendor Riskdata, WiMax telecom operator Enforta, wireless broadband equipment vendor Infinet Wireless, and the others.