Romanian investment and management platform ROCA, which initially targeted troubled companies that couldn’t access bank financing, will expand its scope and target innovative startups in its portfolio, the platform’s managers announced.

The platform was launched in 2018 by local business restructuring company CITR Group (Casa de Insolventa Transilvania) and is backed by several powerful Romanian investors, including the owners of do-it-yourself chain Dedeman, furniture retailer Mobexpert, rail cart producer Astra Rail, pet shot chain Animax, and others.

The platform’s expansion comes after a study it ran recently to identify and understand the different needs of local businesses and entrepreneurs. The study targeted Romanian companies with over EUR 1 million in sales and identified three distinct needs: for growth, consolidation, and management. Thus, ROCA launched a new fund, ROCA X, which will support innovative ideas and startups with both capital and know-how.

“We are already in advanced negotiations for several investments and we aim that in the first year of ROCA X we transform 10 clever Romanian ideas in brands with development potential,” said Andrei Cionca, president of CITR Group.

Several of the investors in the initial fund dedicated to distressed companies also joined the new fund. ROCA got a return of 260% of the invested sums in its first year of activity and reached a company value of EUR 20 million.

editor@romania-insider.com

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