Сiklum attracted investments from Dragon Capital and AVentures Capital

Ciklum raised a new investment round. The main investors were Dragon Capital New Ukraine Fund L.P. and Dragon Capital Investments Limited, which are a part of the Dragon Capital group of companies. Also, the Ukrainian investment company AVentures Capital participated in the round and acquired a minority stake in the company. The amount of the transaction was not disclosed.

“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 for direct investment in Dragon Capital.

According to Michael Boustridge, Chief Executive Officer of Ciklum,  the attracted investments “will continue to propel Ciklum’s rapid growth in delivering cutting edge technologies to clients around the globe.”

According to Andrew Kolodyuk, AVentures Capital Managing Partner, he has known the company since day first when it was founded and has been a member of the Board of Directors since 2015. “This is a natural decision for AVentures to invest at this round and share our confidence and belief in management and company’s future, ” he said.

In April last year, the late founder of Ciklum, Torben Majgaard, invested in AVentures Capital, a Ukrainian venture capital fund. He also became a partner of the fund. Previously, AVentures Capital has already conducted joint investments with Torben, for example, in Augmented Pixels, an augmented reality company, in the Vox audio player from Coppertino.

Dragon Capital New Ukraine Fund L.P. is a private equity fund, established in November 2015. The fund is managed by Dragon Capital. Dragon Capital and a private investment fund managed by Soros Fund Management LLC became its anchor investors. The fund invests in various sectors of the Ukrainian economy.