Private equity company Oresa, one of the oldest private equity investors on the local market, regrets not having seized several opportunities on the pharmaceutical and telecommunications market in the late '90s, when retail and FMCG were the prime focus for investments. "Cable television and pharmaceuticals were sectors on which we failed to take advantage of the opportunities available in 1997. Since we are not a private equity fund specialised in a particular field of activity, retail, FMCG and financial services were our priorities," says Jonas af Jochnick (photo), founder of Swedish private equity company Oresa Ventures. For the next five years, the capital available for Romania is 100 million euros, above the 60 million euros invested over the last 10 years. Having entered the local market 10 years ago, Oresa Ventures has closed 11 transactions so far. Among the most profitable is the investment in electronics retailer Flanco. In 1997, when the Swedish fund made its entry onto the local market through the acquisition of Flanco, the electronics retailer derived turnover worth 3 million euros, while in 2006 at the time of its exit, the retailer posted turnover worth 120 million euros. In the case of the investment in financial services company Credisson, which broke off from Flanco, the multiple secured by the Swedish fund stood at 15, while in the LaFantana investment, Oresa Ventures got back eight times the value of the initial investment.
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