Just closed: Zubr Capital holds first close

The European Bank for Reconstruction is an anchor investor in the vehicle.

Zubr Capital Fund I (ZCFI), which is targeting $50 million, has held a first close on an undisclosed amount. The vehicle will invest into Belarusian companies with a focus on companies producing consumer goods with high export potential in the IT sector, as well as retail companies.

The European Bank for Reconstruction is an anchor investor in the fund, committing $12.5 million with a possible increase later in the year.