Private equity fund Morphosis Capital, set up by four Romanian executives who worked abroad, announced that it took over “a significant minority stake” in process automation startup DocProcess, Ziarul Financiar reported.

This is the first deal for the fund, which launched at the end of last year. The value of the deal was not made public but the fund typically invests between EUR 5 million and EUR 15 million.

DocProcess is a family business, launched in 2005 by Romanian entrepreneurs Liviu and Daniela Apolozan. The company has 3,200 customers, including large corporations like Carrefour, Altex or Flanco. DocProcess has an office with 40 employees in Bucharest and one of 10 people in Grenoble, France, where a research and development center is located.

“In March 2018, I opened an office in Grenoble because I already saw DocProcess as a global business. In France, we have a research and development center that works closely with the Romanian team to innovate and launch new products as we want to develop abroad and even across the ocean,” says Daniela Apolozan.

Morphosis Capital aims to invest between EUR 5 and 15 million in local small and medium-sized enterprises (SMEs) operating in sectors such as consumer goods (FMCG), healthcare, and business to business sector (B2B), Ziarul Financiar announced in July this year, quoting Andrei Gemeneanu, one of the four founders of the private equity fund.

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editor@romania-insider.com