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MCI Capital is the only listed private equity company and the largest digital private equity (PE) firm in CEE with ~PLN 2.7 bn (EUR 575 mn) gross AUM in its two primary funds MCI.EuroVentures 1.0 and MCI.TechVentures 1.0 as of YE 2022. Its regional focus clearly lies on CEE and Poland; however, SEE and the DACH region are also markets of interest. Thanks to own equity resources of PLN 1.9 bn, the company is not dependent on regular cyclical fundraising. The group targets companies which show promising business models, such as providing digital infrastructure to support the transition towards a more data driven economy. Those include investments in e-commerce, fintechs, insurtechs, payment processing, medtech, edtech and software as a service (SaaS) companies. This is reflected in the strong track record with +100 completed investments, an IRR of 28% and a 2.5x multiple on invested capital on exits since 2012, with an average holding period of just 3.5 years on the buyout and expansion portfolio. The investment focus is on participations which generate positive EBITDA and have an equity ticket size of ~EUR 25-100 mn. MCI trades with a discount of 56% to its NAV relative to comparable firms in Europe. MCI Group had a strong liquidity position of PLN 732 mn as of YE 22.
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