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Nordic Private Equity Fund «Mint Capital» has invested in «Elecsnet» company

Press Release
27th March 2006

Nordic Private Equity Fund «Mint Capital» has invested in «Elecsnet», an industry leader in secure cash processing and electronic financial transactions. The USD 10 million invested will be used for regional network development, service and product improvement, and technological development.

«Elecsnet» Group of Companies, established as a private company in the year 2000, currently owns and operates a cost-efficient, high-tech network of more than 1,000 self-service terminals for instant cash or card payments for mobile, fixed line, cable TV, utilities and other products for its retail clients and financial institutions. Today, the company has a mission to be the leading consumer financial service provider and to draw on its wide network presence and industry leadership to develop a portfolio of content offerings designed to serve the full spectrum of retail consumer demand.

«Mint Capital» was founded in 2000 to make private equity investments in entrepreneurial companies in Russia and the CIS. Mint Capital invests in «Elecsnet» from its second $130M fund, raised in 2005 from primarily private Nordic investors. Mint II will make expansion stage investments in rapidly growing companies of any segments with USD 10-100 million revenues range. Other Mint investments include Gameland, ABBYY, Advakom, 2V Studios.

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