Delta Partners Emerging Markets TMT Growth Fund II investing up to
EUR10 million into Virgin Mobile Central and Eastern Europe
DUBAI, UAE, 16 Sept 2014 – Delta Partners Capital Limited (“Delta Partners Capital”) announced today that a definitive agreement has been signed for an investment of up to €10 million by Delta Partners Emerging Markets TMT Growth Fund II (the “Fund”) into Virgin Mobile Central and Eastern Europe (“VMCEE”). IFC (a member of the World Bank Group), the European Bank for Reconstruction and Development (“EBRD”), and CEE Mobile Capital LLC (spearheaded by Dick Kiphart of KGC Capital LLC) are also participating in this funding round on the same basis as the Fund.
VMCEE is an early-stage Mobile Virtual Network Operator (“MVNO”) providing innovative, affordable broadband mobile services to the youth and aspires to be the leading youth lifestyle and consumer-champion brand in the region.
Delta Partners Capital, based in Dubai, is the investment arm of Delta Partners Group (“DPG”), the leading emerging markets-focused telecoms, media, and digital(TMD) advisory and investment firm. Delta Partners has approximately 200 employees operating from Barcelona, Bogota, Dubai, Johannesburg, Palo Alto and Singapore. Delta Partners Capital invests in growth capital opportunities in the TMD sector across Africa, Central and Eastern Europe, the Middle East, and South-East Asia.
Kai-Uwe Ricke, Chairman of DPG, said “The MVNO world is undergoing rapid transition as consumers move from a voice to a data-centric world. We are pleased to be able to partner with a global brand that is recognised as a consumer champion in order to launch creative, data-driven services for consumers in Central and Eastern Europe.”
Alan Gow, CEO of VMCEE, noted “Having an investor with the industry expertise and MVNO-specific experience of Delta Partners Capital is of clear benefit to VMCEE. We look forward to working closely with our shareholders in order to capture the significant opportunity for growth that exists in Poland, Turkey, and across the region.”
Transaction terms were not disclosed. The Fund’s capital will be used to fund the further growth and international expansion of VMCEE. Mr. Ricke will join the Board of VMCEE, and Boris Nemsic, Executive Partner at Delta Partners Capital and former CEO of Telekom Austria andVimpelcom, will join the Board of Virgin Mobile Poland.
About Delta Partners
Delta Partners is the leading Advisory and Investment firm specialised in telecoms, media and digital with offices in the Middle East, Africa, Europe, Asia, Latin America and the United States of America. Our unique combination of Management Consulting, Corporate Finance1 and Private Equity2 creates unparalleled value for our clients, investors and business partners.
For more information, please visit www.deltapartnersgroup.com
Delta Partners Corporate Finance Limited1 and Delta Partners Capital Limited2 are members of the Delta Partners Group of companies and are authorised and regulated by the DFSA.
About VMCEE
VMCEE was founded to develop Virgin Mobile businesses across the CEE region. Its ambition is to become the leading MVNO in this high growth potential area; targeting a total addressable market of over 275 million mobile consumers. To find out more, please e-mail contact@virginmobilecee.com.
