34467 - De Novo Cloud

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Summary of Investment Information

Project Number

34467

Company Name

DENOVO OVERSEAS HOLDINGS LIMITED

Date SPI Disclosed

Nov 18, 2013

Country

Russian Federation

Region

Europe

Projected Board Date

Dec 16, 2013

Environmental Category

C - No Impact

Status

Completed

Last Updated Date

Feb 26, 2017

Department

Gbl Infrastructure & Natural Resources

Industry

Telecommunications and Technology

Previous Events

Approved : Feb 4, 2014
Signed : Feb 13, 2014
Invested : Mar 7, 2014

Sector

Computer Systems Design and Related Services (System Integration, Custom Computer Programming, IT Services etc.)

Project Description

The Project will assist De Novo Overseas Holdings Limited (“De Novo” of “the Company”) to finance capital and operating requirements for the launch and development of cloud services in Russia over the next 9-12 months.

De Novo is a 5-year old IT services company offering data center co-location services, managed hosting, cloud services, and IT systems/application management and integration to Ukrainian corporates with a focus on banks. De Novo’s datacenter is a 3 year old initiative being implemented in Kiev, Ukraine, by the Company, and is the first DC compliant to the Uptime Institute’s TIA-942 standard and categorized as Tier III in Ukraine.

De Novo was founded in 2008 by Mr. Maxim Ageyev, the former president of Kvazar-Micro, one of the largest information technology companies in Ukraine and the CIS region that was acquired by Sitronics (Russia) in 2004. The Company is headquartered in Kiev, employs 80 people and has a team of highly-qualified professionals with IT industry experience of over ten years.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	1.0
Equity

Development Impact

The Project is expected to have the following development impact:
Private Sector Development: 1) the project supports the growth of an innovative successful local IT company; 2) the provision of cloud services in Russia will allow De Novo''s customers to reduce capex and operational costs freeing up cash to invest in their core business; and 3) IFC''s financing will help De Novo expand quicker in local and regional markets, as well as in high growth IT sub-sectors such as cloud services.
Employment generation: New high-income jobs will be created due to the implementation of this project.

Through the investment in De Novo Cloud IFC will support further development of a local IT services company at the time when financing for smaller businesses is very limited and expensive. In addition, the long-term relationship with IFC will help the Company to implement its expansion plans both across IT sub-sectors and geographically as it will give the Company direct access to financing in the future as well as provide comfort to potential new investors.

E&S Category Rationale / Risks and Mitigation

Contacts

For Inquiries About the Project, Contact

Mr. Maxim Ageyev, CEO
De Novo
1-3 Severo-Syretskaya St
04136 Kiev, Ukraine

Tel +38 044 200 9339
Fax +38 044 200 9332
E-mail: mailto:maksym.ageev@de-novo.biz

For Inquiries and Comments About IFC, Contact

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2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384
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Local Access of Project Documentation

De Novo
1-3 Severo-Syretskaya St
04136 Kiev, Ukraine

Tel + 38 044 200 9339
Fax +38 044 200 9332
e-mail: mailto:maksym.ageev@de-novo.biz

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