Belarus-focused private equity firm Zubr Capital has invested $5m (€4.2m) in IT business Targetprocess. The EBRD has co-invested in the deal.
The firm made the investment through its Zubr Capital Fund I, which recently reached a second close at $90m.
Targetprocess develops workload management systems. It employs around 100 people at its operational base in Belarus and sales offices in Germany, the UK and the US. Its clients include Citrix, Caterpillar and Marriott.