Black Sea Fund I is a Bucharest-based investment fund focusing on investments in Romanian small and mid-size enterprises that aims to provide expansion capital to high-growth companies across a wide range of sectors, including manufacturing, business services, healthcare, and information technology.
DigiRay, established in 2008 by a Romanian entrepreneur, owns the main network of maxillofacial imaging and digital dental techniques in Romania. It operates 11 centres located mainly in the western part of Romania.
Kinstellar’s team was led by Răzvan Popa, Partner and Co-Head of the firmwide private equity sector, who was supported by Senior Associates Cătălin Dinu and Smaranda Văcaru (Romania) and Ágnes Szabó (Hungary), and by Associates Patricia Piticaș, Răzvan Crețu and Andreea Liviță.
Speaking about the transaction, Răzvan Popa explains: "We are delighted to have supported Black Sea Fund I on its successful investment in the Romanian healthcare sector during these challenging times. The project showcases our growing strength in private equity and healthcare and is evidence of the high-quality, wide-ranging and focused advice our firm can provide to its clients. We look forward to future similar projects, Romania has immense growth potential and we are excited to see what comes next.’’