4 July 2022

Da Vinci Capital Portfolio Company DataArt Secures $75 Million of Investment

LONDON (Jul. 5, 2022) – Da Vinci Capital portfolio company DataArt has secured a $75 million minority growth investment from FTV Capital. The funding will help DataArt grow its business and solidify its position as a leading custom software developer. Da Vinci Capital Managing Partner Dennis Fulling, who serves on DataArt’s board of directors, said: “We are excited to partner with FTV Capital, a blue chip private equity firm with an exceptional track record in enterprise technology platforms. We are thrilled that FTV Capital has recognized DataArt’s value and made a substantial investment in one of our leading portfolio companies during today’s geopolitical tensions.” Despite the ongoing Covid-19 pandemic, DataArt recorded over $290 million of revenue in 2021, a 60% increase over the previous year, and has increased its engineering headcount to over 870 in 2022. During the Ukraine crisis, DataArt has relocated over 1,300 staff members to 14 countries.

About Da Vinci Capital Da Vinci Capital Management Ltd. is a leading emerging markets private equity manager that builds world-class portfolio companies by assisting with business strategy, corporate governance, financial performance, mergers and acquisitions and capital markets transactions, and environmental and social policies. Backed by DEG, the European Bank for Reconstruction and Development and other major institutional investors, Da Vinci Capital has over $500 million of assets under management. Major exits include Softline Holding plc (LSE: SFTL) and EPAM Systems Inc. (NYSE: EPAM). Da Vinci Capital’s portfolio investments include global custom software developer DataArt; advertising technology company LoopMe, transportation-as-a-service provider Gett; and FCA licensed broker dealer and alternative investment platform ITI Group.

About DataArt DataArt Enterprises Inc. (www.dataart.com) is a global technology consultancy that designs, develops and supports unique software solutions, helping clients take their businesses forward. Recognized for their deep domain expertise and superior technical talent, DataArt teams create new products and modernize complex legacy systems that affect technology transformation in select industries. DataArt has earned the trust of some of the world’s leading brands and most discerning clients, including Ocado, Unilever, Apple Leisure Group, MeetUp, Nasdaq, Intersport, Priceline and TravelPort. DataArt brings together 25 years of experience and expertise of over 6,000 professionals throughout over 20 locations across the U.S., Europe, Central Asia, Middle East and Latin America.

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