INTEGRAL CAPITAL GROUP

Integral Capital Group are an independently owned private equity and growth capital investment firm focused on investments in leading medium and small-sized companies across Central and South-East Europe and the Adria region. They concentrate on five core sectors: consumer, technology/media/telecom, healthcare, niche industrials, and business services.

They launched their first fund, Evolving Europe Principal Investment Fund I (EEPI I), in 2019, through which they executed twelve investments—either with control equity positions or minority stakes with strong control-like shareholder rights. Their second fund, Evolving Europe Principal Investments (EEPI II), was launched in December 2024, maintaining the same geographical focus and investment strategy. Both funds are backed by international institutional investors such as the European Investment Fund (EIF), the European Bank for Reconstruction and Development (EBRD), and the International Finance Corporation (IFC).

They are among the largest and most active investors in Romania and Bulgaria, having invested in seven companies in the two countries over the last five years—Bulgaria: Bulsatcom (exited 2022), Breaktime, Ontotext, EconicOne; and Romania: Medima, O’Fresh, and Embryos.