Disciplined majority ownership in Central European SMEs where governance and execution shape long- term performance.
JSK Private & Growth Equity Fund
Where Value
is Built
Overview
We invest where execution matters
JSK PGE Fund is a € 100M private and growth equity fund investing in profitable, founder-led small and mid-sized companies primarily in the Czech Republic and Slovakia. We selectively consider regional adjacencies where governance standards are strong and our sourcing advantage applies. We focus on businesses at moments of transition: succession, professionalization, or structured growth where value is created not through financial engineering, but through how a company is governed, managed, and executed. That is the operational experience our team brings, working alongside founders to strengthen their organizations and scale the next phase of growth.
TARGET FUND SIZE
€100 M
€ 20-40M internal capital
GEOGRAPHY
CZ & SK
Other CEE & DACH opportunistic
TYPICAL EBITDA
€2-8 M
HOLDING PERIOD
5-7 yrs
TARGET IRR
25 % p.a.
STRATEGY
Majority- control private & growth equity in SME’s
Why JSK PGE fund exists
Across Central Europe, profitable SMEs form the backbone of the economy, yet many face a structural capital and governance gap. We partner with founders to support succession and professional scale-up across the region.
Structural gap
Western institutional capital participation remains limited. Banks are constrained by regulation and collateral frameworks. Large global private equity funds focus on larger, standardized transactions.
Transition moments
Founders increasingly face succession decisions, scale limitations, or the need to professionalize their organizations. Capital alone does not solve these transitions .
We believe long-term value in this segment is not created through financial engineering alone. It is built through structured ownership, governance clarity, and disciplined execution. JSK Private & Growth Equity Fund exists to address this gap.
Investment strategy & focus areas
We invest in profitable, established SMEs where ownership transition or enhanced governance unlocks value.
E-commerce ecosystem
Scalable e-commerce businesses and supporting infrastructure, including fulfillment, logistics, reverse logistics, and specialized manufacturing. We focus on profitable companies where operational improvements, governance discipline, and platform-driven growth can unlock efficiency and scale.
Healthcare and care services
Service-oriented healthcare providers and care platforms, including general practices, women’s healthcare, elder care, and specialized healthcare manufacturing. We focus on scalable organizations where governance, operational professionalization, and consolidation can support sustainable growth.
We invest selectively and with defined concentration limits to preserve portfolio resilience.
Our target companies
are typically
Profitable and cash-generative
Operationally established base.
Defensible, non-cyclical segments
Flexible capital solutions and operational support help them unlock scale.
Growth constrained by capital or structure
Flexible capital solutions and operational support help them unlock scale.
Businesses where execution materially influences performance
Operational outcomes drive value creation.
Founder-led or family-owned
Aligned incentives; clear ownership logic.
What we do not invest in
Fossil fuels, weapons, gambling, tobacco, adult entertainment, sanctioned activities
Pure turnaround situations without an established operating base
Pure financial arbitrage strategies
Minority passive stakes
Minority passive stakes
TARGET FUND SIZE
Typically €2-8 M
GEOGRAPHY
€2-8 M
TYPICAL EBITDA
Majority/ control
TARGET FUND SIZE
Established operating history
GEOGRAPHY
Succession Governance upgrade Growth acceleration
TYPICAL EBITDA
Operational strengthening (not multiple expansion )
Value creation
Value is built through operational excellence and scale-up, not financial engineering.
Our approach is structured, repeatable, and governance- led. We do not seek value through financial structuring alone. We build it through how companies are run. Through disciplined scale-up, we help transform strong SMEs into large, resilient businesses. We do not rely on momentum. We rely on scale-up expertise and strong execution.
Governance & reporting professionalization
Board- level governance frameworks, defined decision rights, and structured KPI reporting that create transparency and accountability.
Leadership & organizational strengthening
Management evolution, role clarity and incentive alignment to ensure leadership capacity supports sustainable scale.
Financial discipline
Structured reporting, working capital allocation discipline and investment pacing aligned with long-term resilience.
Targeted operational support
Operational systems, logistics efficency and process strengthening where measurable impact can be achieved.
Risk & discipline
We view execution risk as the primary risk in our segment.
Risk is not avoided through distance. It is managed through active ownership anchored in governance.
We manage it through:
Rigorous commercial due diligence
Defined portfolio concentration limits
Thoughtful pacing and capital deployment
Majority ownership enabling governance intervention
Clear decision gates and capital allocation frameworks
Execution safeguards & Institutional discipline
ESG & EU policy alignment
ESG considerations are embedded within our underwriting, governance and portfolio monitoring. We view professionalization as both a performance and sustainability driver.
Embedded ESG
Operational efficiency, governance transparency, responsible leverage practices, and long-term resilience.
EU priorities
SME professionalization, regional convergence, and structured ownership transitions in Central Europe.
JSK Private & Growth Equity Fund Team
What the JSK team brings together
The fund is led by seasoned professionals with first-hand experience building, scaling, and governing founder-led businesses. We combine operating experience with institutional investment discipline.
We manage it through:
Entrepreneurial operating experience
Institutional investment discipline
Deep regional sourcing capability
Founder-level relationship networks
End-to-end expertise from acquisition through scale to exit
Relationship to JSK Investments
Through our Private & Growth Equity Fund, we focus on majority equity investments in mid-sized companies across various market sectors. We provide existing owners and management with the capital and expertise needed to accelerate the company’s growth and further development.