One of iEurope’s partners, Miklos Kovacs is attending the ABC Accelerator demo day in Ljubljana, Slovenia.
Investing in privately held small and medium sized enterprises in the CEE region seeking capital for growth and expansion
Targeting innovative enterprises with proprietary products and services
Fund managers have a successful track record of investing in, exiting, and managing over 20 companies
Strong local presence throughout Central Eastern Europe, using Budapest as a hub
Laszlo Robert Czirjak, in Hungary since 1992, was born and educated in the U.S. His venture capital, private equity, investment banking and operational experience spans e-commerce, Internet, automotive and transport, financial services, consumer and retail, energy and power, health care, manufacturing, technology, business services, and media and telecom. Prior to founding iEurope, he was a Managing Director at Bankers Trust Company/BT Alex Brown in London, where he built the regional investment banking business in six countries in Southern Central and Eastern Europe from 1991-1998. He led over 20 major M&A and restructuring assignments involving over $1.5 billion and 24 significant debt and equity financings totaling over $3.2 billion. He advised on, sourced and executed various private equity transactions. He was CEO of Bankers Trust Rt. (Hungary). Earlier in his career in New York, Mr. Czirjak served as a Director at the Bridgeford Group and at IBJ Schroder Bank, US investment banking subsidiaries of the Industrial Bank of Japan. He has held positions at Goldman Sachs (in M&A and Project Finance) and in operations management at Chemical Bank. Mr. Czirjak served on the boards (or other similar governing bodies) of each of iEurope fund’s portfolio companies including ATech, Vatera, Kupi Me and others. He is a former member of the Board of Directors, and Chairman of the Board’s Audit Committee, of MOL Rt., the Hungarian Oil and Gas Company that is publicly traded on several European exchanges. He also served on the CEE advisory board of AES Hungary (subsidiary of NYSE AES Corp). He also currently sits on the local CEE advisory Committee of Euro-Phoenix Financial Advisors. He is a former President of the American Chamber of Commerce in Hungary and is still active as Chairman of its Corporate Governance, Business Integrity and Entrepreneurship Committee, where he co-authored a position paper titled “Good Corporate Governance in Hungary” and a Hungarian English Glossary on relevant terminology. Mr. Czirjak is currently Chairman of the Board of United Way Resource Foundation in Hungary and is President of the Columbia University and Business School Clubs of Hungary. He is a Board member of the Hungarian American Fulbright Commission. He received a MBA and BS in Industrial Engineering, both with honors, from Columbia University in New York.
Kristina Perkin Davison is a U.S.-born citizen holding dual U.S. and Hungarian citizenship. Prior to founding iEurope, she founded and managed New Europe Capital Partners LLC, an advisory company established in 1997 to assist U.S. and Western European companies with acquisition and greenfield projects in the Central European region. Ms. Davison’s industry experience includes e-commerce, Internet, financial services, industrial, technology, business services, media, and telecom. From 1989 to 1996, Ms. Davison worked for Bankers Trust Company. At Bankers Trust, she raised investment capital by selling investment management services to pension funds of multinational corporations and to the endowment and foundation market in the United States and Europe. She also served as an Emerging Markets Specialist at Bankers Trust where she was part of a team responsible for establishing a global emerging markets fund, and researching investments for the Eastern European sector of the fund. Earlier, Ms. Davison worked in the Eastern Europe Corporate Finance Group at Bankers Trust in London, Budapest and Prague, and worked on corporate finance transactions in Poland, Czech Republic and Slovakia, Hungary and Russia. Ms. Davison served on the boards (or other similar governing bodies) of each of iEurope fund’s portfolio companies including ATech, Vatera, Kupi Me and others. She is also a Board Member of the Peter Westbrook Foundation, and a former Board Member of Cold Spring Harbor Laboratory. In addition, she is a Member of the Council on Foreign Relations and a former Co-Chairman of Friends of Harvard Fencing. Ms. Davison holds an MBA in International Business and an MA in International Affairs from Columbia University and an AB Honors Degree from Harvard University.
Zsuzsanna Ludwig resides in Budapest and is a Hungarian citizen. Ms. Ludwig has many years of experience in office management at multinational companies. Prior to joining iEurope she worked for Colgate-Palmolive Hungary, where she had budget responsibility for office management at their two facilities, including fleet management, purchasing, maintenance, legal matters and human resources (150 employees). From 1996 to 1998 Ms. Ludwig worked at Bankers Trust in Budapest in a similar function. Her background also includes specific experience in creating management procedures in the printing industry and book publishing. From 1990 to 1996 Ms. Ludwig worked as Administrative Assistant for the British Chairman of Révai Nyomda Kft., a subsidiary of Watmoughs (Holdings) PLC, a UK printing group. Prior she worked as the Personal Assistant to a Vienna based US book publisher. She is fluent in Hungarian and English.
Miklos Kovacs joined iEurope in 2011. Prior to joining iEurope, Mr. Kovacs gained operational experience through several positions at a multi-national corporation. He also gained transactional experience in the financial advisory sector. He has driven corporate finance transactions, financial controlling operations, and strategic planning efforts. From 2003 to 2009, he held several positions in operations management, business development, and financial controlling at DHL Supply Chain (a division of Deutsche Post AG that provides contract logistics services). In 2009 he joined MP Corporate Finance, a leading corporate finance advisory firm in Central and Eastern Europe, where he served as a transaction manager sourcing deal opportunities, valuing companies, and structuring and managing transactions throughout Central Eastern Europe. Mr. Kovacs’ industry experience includes manufacturing, logistics, transport, and technology. Mr. Kovacs holds a BA in Business and Administration from Jönköping International Business School, Sweden and an MA in Management & Organization from Corvinus University of Budapest. Mr. Kovács is a Hungarian citizen and resides in Budapest. He is fluent in Hungarian and English.
Anikó Losonczi joined iEurope in January 2011 and has a background in agrobusiness. Ms. Losonczi was a Trading Associate in a fruit production and trading company from 2007 to 2010 where she helped to generate new business for the export/import department. She also maintained client relations. In addition she assisted in the management of the company’s real-estate portfolio. From 2006 to 2007 she worked at Aon Limited Insurance Broker in London where she was a Client Service Advisor. At Aon she worked on a team that covered UK based clients from the oil and gas industry. Ms. Losonczi holds a BA in Business and Administration from International Business School of Budapest. Ms. Losonczi is a Hungarian citizen and resides in Budapest. She is fluent in Hungarian and English.
President, ASA International Ltd., Enterprise software provider. Expert in operating and building US and global technology businesses.
Chairman, EDventure Holdings, Journalist, Board Member and Active Investor in online services and health care/genetics. Former Vatera Board Member and Co-Investor with iEurope. Expertise in digital technology, health care, and advising early-stage businesses.
Former CEO & Co-owner of public, medium size technology company in Holland and Germany. Former co-owner of ProfiPower: executive search in Hungary. Expert in technology, manufacturing and services. Former iEurope Agricultural Partner. Presently active in agriculture investments and operations in CEE.
Partner in Accrelium AB, Private Equity firm. Former Managing Director, ABB Hungary. An experienced executive with extensive network and knowledge of various industrial and consumer businesses.
Founder and CEO, Alta Investors, a New York-based investment advisory and consulting firm. Co-Founder and Board Member of Gerson Lehrman Group (global research and consulting services firm) and Boliven (IP/R&D information services company). Operating and board-level experience building early and growth stage technology-enabled businesses.
Chairman, Greenwich Management Group, Inc. Former Partner, Foster Management, private equity. Former officer in technology management consulting with Booz, Allen and Hamilton. Expert in building businesses in healthcare, services and alternative energy.
Former Chief Executive Officer, Wikia. Mr. Penchina was formerly Vice President of eBay © International. He is an investor in about 50 Internet properties.
Co-Founder and President of Dominion Diagnostics, a clinical drug testing company, and member of its Board of Directors, Scientific Advisory Board and Addiction Advisory Board. Expertise in medical diagnostics and in building and selling early and growth stage medical diagnostic companies.
Private Investor and Advisor. Mr. Sodi has led over 120 acquisitions as a lead investor, across Europe, North America and Latin America while at Veronis Suhler Stevenson where he worked for 23 years. He started and led all aspects of VSS activities in Europe since 1999. Expertise in Technology, Media and Telecom.
We assist entrepreneur managers of promising companies to build and to sustain a significant leadership position in their industry. iEurope’s partners, investors, advisors and associates have the depth of professional expertise and local experience necessary to identify, nurture and drive select medium- to small-size companies in Central Eastern Europe. iEurope is uniquely placed, with its experience and investors’ networks, to help innovative growth companies realize their full potential.
Being at the helm of your own business can be a lonely place: Is the strategy you chose for the company the right one? How well does it take into account what your competitors will do, or how the markets will evolve? By collaborating with management we often find the quickest path to growth.
As your company grows you need operational processes in place to withstand growth, including regular financial and operating reporting, and enhanced management information systems. iEurope helps you have confidence in your systems and management so that you have more time to focus on profitable growth.
Do you want to reach leading experts in your business to get their opinion? iEurope has a global network of business contacts in a wide range of sectors who will share their business and industry insights and their networks.
iEurope invests its own capital alongside yours in order to accelerate your company’s growth. We also invest our time and intellectual capital derived from years of experience.
Do you know who your customers are? Why do they buy your products? What are your most profitable products? Who else could be your potential customers and how can you reach them? How much should you spend on marketing? iEurope helps you understand your markets so that sales efforts are most efficient.
We take an active role on the Board of Directors and conduct operating reviews with management on a regular basis. We are committed to making substantial contributions to the success of our investments. We invest both intellectual and financial capital into our portfolio companies.
How many people should run the business? Are the tasks properly delegated? Are the managers motivated to stay on for the medium to long-term? What type of professionals should you hire for top and middle-management, as the company grows? We know how to get the best out of people.
Do you want to acquire competing or complementary businesses but are limited by transactional experience? iEurope’s professionals have collectively bought and sold well over a hundred businesses and have first-hand experience in helping you pick the right targets, as well as execute the transaction.
iEurope will consider investment in growth capital stage companies including early stage (post seed stage) through expansion capital.
Are the company’s products (services) already on the market? Does the company enjoy a leading market position? Since when, and in which countries?
Does the company’s management have previous experience in successfully building a business? What are the associated revenues and profits?
Is the company’s management eager to stay on and to grow the business? Is the management looking for a partner to take the company to the next level?
Does the entrepreneur manager have an understanding of which markets, customers and sales channels need to be developed? What can be achieved in 3 to 5 years’ time?
What is the level of corporate activity in the sector? Who would be the potential trade buyers or other financial investors in the business?
Based on a series of meetings and feedback from iEurope’s experts, iEurope would carefully screen the investment opportunity. The entrepreneur also has an opportunity to get to know the iEurope Team.
The company (entrepreneur) and iEurope would draw up and sign a term sheet, setting out the main components of a future transaction. Afterwards, iEurope would carry out final due diligence on the company and entrepreneurs.
Once due diligence is completed, the parties would agree on the transaction documentation. This would include legal agreements (subscription agreement, shareholder agreements, employment agreements and other needed agreements) and the final business plan (including separate marketing, sales and financial plans).
Together with the entrepreneur/management iEurope will drive the profitable growth of the business. We would work as a partnership setting priorities and helping get the right team in place to execute strategy.
At the date of exit, the portfolio company is a more mature business that can operate independently of any one individual, and that has created value for both iEurope’s investors and the entrepreneur/management. Exit options are always discussed in advance of an investment.
Antavo is a complete Software-as-a-Service solution for companies to launch point-based loyalty programs.
Investment Date: June 2015
AutoHop is a leading long-distance ride-sharing platform in the CEE region.
Investment Date: July 2012
(Sold to BlaBlaCar)
Tjobs Recruit is an online marketplace for job seekers and employment agencies.
Investment Date: May 2014
By investing in Vatera.com, iEurope helped to jump-start e-commerce in Hungary. Vatera is now the leading online auction and marketplace in Hungary, poised to capitalize on the growth potential of the developing Central European e-commerce markets. In 2008 iEurope sold its majority stake in the company to Naspers www.naspers.co.za.
iEurope helped ATech expand its markets by focusing its innovations. Based in Slovenia, ATech Elektronika d.o.o. is an applications engineering company that designs and manufactures electronic components incorporating proprietary technology for use in motor controls (power tolls, electronics, home appliances and more) and in integrated connectivity electronics fuelled by the intelligent home, building automation and Ubiquitous Network Technology markets (such as access controls and HVAC systems).