Ciklum Raises New Investment Led by Dragon Capital With AVentures Capital Co-Investment

Ciklum Raises New Investment Led by Dragon Capital With AVentures Capital Co-Investment

Ciklum announced that Dragon Capital and AVentures Capital have acquired minority stakes in the company

Dragon Capital Investments Limited, a member of the Dragon Capital Group, and Dragon Capital New Ukraine Fund L.P. managed by the company led a new investment round and became minority shareholders in Ciklum, a global digital solutions company with major footprint in Ukraine.

According to a press release of Dragon Capital, AVentures Capital participated in the investment round and acquired a minority stake in the company.

The size of minority stakes of all three companies is not disclosed.

Michael Boustridge, Chief Executive Officer of Ciklum, said “We are excited to welcome Dragon Capital and AVentures Capital to our shareholder base. This investment will continue to propel Ciklum’s rapid growth in delivering cutting edge technologies to clients around the globe.”

“We believe that ongoing global digital transformation will support increasing demand for IT solutions and services, and that Ciklum is very well positioned to capitalize on this sustainable trend. Founded in 2002 and headquartered in London, Ciklum has one of the largest footprints in Ukraine, great expertise and access to IT talent. We are enthusiastic about the opportunity to support one of the leading companies in the segment, which is run by great management and shareholders”, said Andriy Nosok, Managing Director, Co-Head of Private Equity at Dragon Capital.

“I’ve known the company from the very beginning and have been serving Director of the Board in Ciklum since 2015. It was a natural decision for AVentures to invest at this round and share our confidence and belief in management and company’s future”, said Andrew Kolodyuk, Managing Partner of AVentures Capital.

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