According to the managing partner of AVentures Capital and the head of the Supervisory Board of the Ukrainian Venture Capital and Private Equity Association (UVCA) Andrey Kolodyuk, the fund has decided to purchase a share in CoreValue, because the generated revenue by it is growing rapidly and steadily (more than 30% per year).
The exact amount of the revenue of the outsourcing company is not announced, but Andrey Kolodyuk noted that for each engineer accounted an average of about $ 40-60 thousand per year. Thus, the investment company can count on the guaranteed earnings.
This is the first experience of AVentures investing in a Ukrainian IT outsourcing company.
CoreValue was founded 10 years ago. It develops software for the organizations in the fields of pharmaceutics, health and finance. The company employs more than 350 people, and its offices are located in Kiev, Lvov, Cherkassy, Poltava, Hmelnitsky, Ivano-Frankovsk, Lutsk and Vinnitsa.
Previously, CoreValue's investors were the investment fund Insoft Capital and Dmitry Volkonsky’s investment company UATECH.
