Provectus Capital Partners Opens Office in Bulgaria Following Romania

Provectus Capital Partners (PCP), the founder of the leading regional PE fund, continues to expand its network of regional offices and its team, and after launching an office in Romania, it is now opening an office in Sofia.

The office in Bulgaria will be led by Georgi Tsonev, who prior to joining PCP headed the investment banking department at UniCredit Bulbank, and previously held senior management positions at PwC and KPMG, where he led numerous M&A transactions in Bulgaria and Southeast Europe. The office also employs senior analyst Hristiyan Nedkov, who before joining PCP worked as an M&A manager responsible for transaction execution and operational improvements, and prior to that held managerial positions in the investment banking department at UniCredit Bulbank in Bulgaria and worked as a business strategy consultant at a boutique consulting firm in London. Tsonev and Nedkov will be responsible for sourcing, executing, and monitoring investment projects for PCP, with a focus on Bulgaria.

With the opening of the office in Bulgaria, the PCP team has grown to 14 financial professionals who cover the Southeast European markets where PCP actively seeks investment opportunities.

– Through our first fund, we have invested over 150 million euros in the markets of Croatia and Slovenia, demonstrating our ability to identify opportunities and create added value in the companies we invest in. With the new fund, we will expand our activities to a broader region of Southeast Europe, and establishing a physical presence through a network of local offices is important to us as the partnership relationship and transparent, continuous communication with the founders of the companies we invest in are the foundations of our successful business approach – stated Igor Čičak, CEO and main partner of PCP.

It is worth noting that Provectus opened an office in Romania earlier this year, which will be led by two new team members – Cosmin Comsa and Toma Neacsu, both with extensive experience in the financial industry.

Comsa is an experienced advisor in mergers and acquisitions (M&A), having led the M&A department at KPMG in Romania with transaction management experience in Austria, and has also gained experience through positions in the banking industry, including UniCredit and Erste Group. Neacsu was also a member of the KPMG Romania team, where he worked on complex financial transactions in the technology sector, as well as in healthcare and the FMCG sector.

– By opening an office in Romania, Provectus Capital Partners formally becomes an active investor in the Southeast European markets. Through our first fund, we have invested over 150 million euros in the markets of Croatia and Slovenia. Investments have been realized through four business verticals – private healthcare through Arsano Medical Group, dental medicine through Adria Dental Group, veterinary clinics through Vetti Group, and specialized retail of sports equipment through Keindl sport. We have built all these companies into regional leaders and continue their development. Additionally, we have initiated activities to establish a new fund that will invest in the broader region, including Romania and Bulgaria – Čičak stated at that time.

In the companies managed and developed by PCP, more than 1,700 employees work, and the consolidated total revenue of the companies has exceeded 140 million euros.

The trend of regional expansion of funds continues beyond PCP – Fil Rouge Capital, a Croatian VC fund known for investing in early-stage startups, has also recently opened an office in Bucharest, and InterCapital Asset Management has positioned itself in Romania with an ETF on the Bucharest Stock Exchange.