MCI Capital SA - private equity fund listed on the Warsaw Stock Exchange[2] (WSE: MCI) established in 1999 by Tomasz Czechowicz with assets under management (AUM) of 2.8 billion PLN (ca. 600 m Euro) and permanent capital of 1.8 billion PLN [ca. 400 m Euro) as of December 31, 2021. According to Wall Street Journal MCI is one of Poland’s leading private equity companies.[3]
MCI Capital specializes in digital economy buyout and growth capital investments, seeking to deploy EUR 30-100 million per investment. MCI operates across Europe, with a particular emphasis on Central Europe.[4] Historically, MCI Group has also managed funds dedicated to investments in private debt, growth equity, and venture capital.
Business activity
The total value of gross assets under the management of MCI – increased by available financing for investment activities (financial commitments) – as at June 30, 2022 was approximately PLN 2.8 billion.
Throughout its history, MCI has made a total of 107 investments and over 73 divestments.
Since the start of its operations on January 1, 1999, MCI has delivered an 18 percent average annual increase in NAV per share and an internal rate of return of 27 percent on its growth and private equity portfolio.[5]
MCI Capital ASI SA is a member of the Polish Association of Capital Investors.[6]
Key people at the company include: Tomasz Czechowicz, founder and managing partner; Zbigniew Jagiełło, head of the supervisory board (previously the longstanding president of PKO Bank Polski); and Ewa Ogryczak, senior partner and chief operating officer.
MCI Capital focuses on investments in companies operating in the following segments:
- SaaS and B2B software
- e-commerce, direct-to-customer and marketplaces (B2C/B2B)
- payments, fintech and insurtech
- digital infrastructure
- energy and retail digital transformation
Investments are typically pursued through recapitalizations from venture capital and private equity funds, carveouts from strategic investors, public-to-private transactions, and founder-owner transitions.
Current portfolio and new investments
MCI currently holds shares in 14 portfolio companies and, in line with its investment strategy, plans to implement 2-3 new investments annually.
