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Winter Capital is a growth equity investment firm founded in 2015 by alumni of Goldman Sachs Emerging Markets. Originally based in Moscow, Russia, the firm has since relocated its headquarters to Dubai, UAE. Winter Capital manages approximately $1.4 billion across three funds, focusing on technology-driven transformations in consumer industries.
The firm has a significant backing from Russian billionaire Vladimir Potanin, associated with Interros Group. Winter Capital has evolved from its roots in Russia to a broader global mandate, particularly targeting fast-growing markets in South and Southeast Asia, India, and the MENA region.
Winter Capital operates as a hybrid of private equity and venture capital, typically taking minority or mixed stakes in its portfolio companies. The firm has invested in over 40 companies, demonstrating a commitment to sectors such as healthcare, fintech, and consumer services.
Winter Capital primarily invests in growth-stage companies across several sectors, including healthcare, fintech, consumer goods, and education. The firm targets investments ranging from $500,000 to $5 million for venture capital stages and $10 million to $100 million for private equity and growth equity stages. This dual approach allows Winter Capital to engage with companies at various stages of their development.
The firm emphasizes technology-enabled transformations within its target sectors, seeking opportunities that align with its investment thesis. Winter Capital's geographic focus includes emerging markets, particularly in South and Southeast Asia, India, and the MENA region, while maintaining historical exposure to Russia and the CIS.
Winter Capital looks for companies that demonstrate strong growth potential and innovative solutions within their industries. The firm typically prefers to take minority stakes, allowing for collaborative growth while providing strategic guidance and leveraging its extensive network.
Winter Capital has built a diverse portfolio of over 40 companies across various sectors. Notable investments include:
Dmitry Kolesnikov - Managing Partner. Dmitry has extensive experience in investment and has been instrumental in leading Winter Capital's growth strategy.
Alexey Kolesnikov - Partner. Alexey brings a wealth of knowledge in technology investments and has played a key role in portfolio management.
Andrey Kolesnikov - Partner. Andrey has a strong background in financial services and contributes to the firm's investment decisions and strategic direction.
To pitch Winter Capital, founders should visit their website at wintercapital.com. It is recommended to include a comprehensive pitch deck that outlines the business model, market opportunity, and financial projections. The firm prefers to receive pitches through their online platform and typically responds within a few weeks.
Warm introductions can enhance the chances of securing a meeting, but are not strictly necessary. Founders should ensure that their pitch is concise and clearly communicates the value proposition of their startup.
On November 27, 2023, Winter Capital was acquired by Rockstone Ventures, marking a significant change in the firm's corporate structure. This acquisition may impact its investment strategy and operational focus moving forward.
In 2023, Winter Capital expanded its investment activities in India, focusing on technology-driven companies in the region. This move aligns with the firm's strategy to diversify its portfolio and tap into emerging markets.
What are Winter Capital's investment criteria?
Winter Capital invests in growth-stage companies across sectors such as healthcare, fintech, consumer goods, and education. The firm typically targets investments ranging from $500,000 to $5 million for venture capital stages and $10 million to $100 million for private equity and growth equity stages.
How can I pitch to Winter Capital?
Founders can pitch to Winter Capital through their website at wintercapital.com. It is advisable to include a detailed business plan, market analysis, and financial projections in the pitch deck.
What makes Winter Capital different from other investors?
Winter Capital operates as a hybrid of private equity and venture capital, allowing them to engage with companies at various stages of growth. The firm emphasizes technology-driven transformations and has a strong focus on emerging markets, particularly in South and Southeast Asia.
What is Winter Capital's geographic scope?
The firm has a global investment mandate, with a historical focus on Russia and the CIS region, and is currently expanding its presence in South and Southeast Asia, India, and the MENA region.
What kind of support does Winter Capital provide to portfolio companies?
Winter Capital adds value through strategic guidance and leveraging its extensive network in technology and consumer sectors to drive growth and innovation within its portfolio companies.
What is the typical follow-on investment behavior of Winter Capital?
Winter Capital typically takes minority or mixed stakes in its portfolio companies, allowing for collaborative growth and potential follow-on investments as companies scale.
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