EEMEA market round up: Mint makes restaurant reservation
Moscow private equity firm Mint Capital has taken a stake in beer restaurant chain Tinkoff Restaurants.
The $10 million direct equity investment will fuel the company’s regional expansion, with the number of outlets set to rise from 13 to 50 by 2011. "Our investment in Tinkoff Restaurants is a new good example of getting early exposure to a market with huge potential and an entrepreneurial team with a unique brand and track record," says Gleb Davidyuk, partner at Mint Capital. Renaissance Capital estimates the Russian dining market will be worth $40.7 billion by 2011, up from an estimated $24 billion in 2008.