iEurope

Laszlo Robert Czirjak Co-Founder/Managing Partner

Laszlo Robert Czirjak, in Hungary since 1992, was born and educated in the U S His venture capital, private equity, investment banking and operational experience spans e-commerce, Internet, automotive and transport, financial services, consumer and retail, energy and power, health care, manufacturing, technology, business services, and media and telecom Prior to founding iEurope, he was a Managing Director at Bankers Trust Company/BT Alex Brown in London, where he built the regional investment banking business in six countries in Southern Central and Eastern Europe from 1991-1998 He led over 20 major M&A and restructuring assignments involving over $1 5 billion and 24 significant debt and equity financings totaling over $3 2 billion He advised on, sourced and executed various private equity transactions He was CEO of Bankers Trust Rt (Hungary) Earlier in his career in New York, Mr Czirjak served as a Director at the Bridgeford Group and at IBJ Schroder Bank, US investment banking subsidiaries of the Industrial Bank of Japan He has held positions at Goldman Sachs (in M&A and Project Finance) and in operations management at Chemical Bank Mr Czirjak served on the boards (or other similar governing bodies) of each of iEurope fund’s portfolio companies including ATech, Vatera, Kupi Me and others He is a former member of the Board of Directors, and Chairman of the Board’s Audit Committee, of MOL Rt , the Hungarian Oil and Gas Company that is publicly traded on several European exchanges He also served on the CEE advisory board of AES Hungary (subsidiary of NYSE AES Corp) He also currently sits on the local CEE advisory Committee of Euro-Phoenix Financial Advisors He is a former President of the American Chamber of Commerce in Hungary and is still active as Chairman of its Corporate Governance, Business Integrity and Entrepreneurship Committee, where he co-authored a position paper titled “Good Corporate Governance in Hungary” and a Hungarian English Glossary on relevant terminology Mr Czirjak is currently Chairman of the Board of United Way Resource Foundation in Hungary and is President of the Columbia University and Business School Clubs of Hungary He is a Board member of the Hungarian American Fulbright Commission He received a MBA and BS in Industrial Engineering, both with honors, from Columbia University in New York

Kristina Perkin Davison Co-Founder/Managing Partner

Kristina Perkin Davison is a U S -born citizen holding dual U S and Hungarian citizenship Prior to founding iEurope, she founded and managed New Europe Capital Partners LLC, an advisory company established in 1997 to assist U S and Western European companies with acquisition and greenfield projects in the Central European region Ms Davison’s industry experience includes e-commerce, Internet, financial services, industrial, technology, business services, media, and telecom From 1989 to 1996, Ms Davison worked for Bankers Trust Company At Bankers Trust, she raised investment capital by selling investment management services to pension funds of multinational corporations and to the endowment and foundation market in the United States and Europe She also served as an Emerging Markets Specialist at Bankers Trust where she was part of a team responsible for establishing a global emerging markets fund, and researching investments for the Eastern European sector of the fund Earlier, Ms Davison worked in the Eastern Europe Corporate Finance Group at Bankers Trust in London, Budapest and Prague, and worked on corporate finance transactions in Poland, Czech Republic and Slovakia, Hungary and Russia Ms Davison served on the boards (or other similar governing bodies) of each of iEurope fund’s portfolio companies including ATech, Vatera, Kupi Me and others She is also a Board Member of the Peter Westbrook Foundation, and a former Board Member of Cold Spring Harbor Laboratory In addition, she is a Member of the Council on Foreign Relations and a former Co-Chairman of Friends of Harvard Fencing Ms Davison holds an MBA in International Business and an MA in International Affairs from Columbia University and an AB Honors Degree from Harvard University

Miklos Kovacs joined iEurope in 2011 Prior to joining iEurope, Mr Kovacs gained operational experience through several positions at a multi-national corporation He also gained transactional experience in the financial advisory sector He has driven corporate finance transactions, financial controlling operations, and strategic planning efforts From 2003 to 2009, he held several positions in operations management, business development, and financial controlling at DHL Supply Chain (a division of Deutsche Post AG that provides contract logistics services) In 2009 he joined MP Corporate Finance, a leading corporate finance advisory firm in Central and Eastern Europe, where he served as a transaction manager sourcing deal opportunities, valuing companies, and structuring and managing transactions throughout Central Eastern Europe Mr Kovacs’ industry experience includes manufacturing, logistics, transport, and technology Mr Kovacs holds a BA in Business and Administration from Jönköping International Business School, Sweden and an MA in Management & Organization from Corvinus University of Budapest Mr Kovács is a Hungarian citizen and resides in Budapest He is fluent in Hungarian and English

Zsuzsanna Ludwig Administrative Director

Zsuzsanna Ludwig resides in Budapest and is a Hungarian citizen Ms Ludwig has many years of experience in office management at multinational companies Prior to joining iEurope she worked for Colgate-Palmolive Hungary, where she had budget responsibility for office management at their two facilities, including fleet management, purchasing, maintenance, legal matters and human resources (150 employees) From 1996 to 1998 Ms Ludwig worked at Bankers Trust in Budapest in a similar function Her background also includes specific experience in creating management procedures in the printing industry and book publishing From 1990 to 1996 Ms Ludwig worked as Administrative Assistant for the British Chairman of Révai Nyomda Kft , a subsidiary of Watmoughs (Holdings) PLC, a UK printing group Prior she worked as the Personal Assistant to a Vienna based US book publisher She is fluent in Hungarian and English

Anita Campbell has experience working with several research firms in the US where she compiled and analyzed data for projects that assessed the effectiveness of educational programs and curriculums in New York City public schools She has also worked with the No Child Left Behind program, a US government initiative to close student achievement gaps, as well as the World Trade Center Health Registry, a program to determine the health effects on those people who were exposed to the WTC disaster Ms Campbell has also volunteered at the Gillen Brewer School, where she was Co-Chair of the Parent Association and raised annual funds for the school She holds a Bachelor of Arts in Psychology from Hunter College in New York Ms Campbell lives in New York She is fluent in Hungarian and English

• Béla Jankovich De Jeszenice Chairman, EDventure Holdings, Journalist, Board Member and Active Investor in online services and health care/genetics Former Vatera Board Member and Co-Investor with iEurope Expertise in digital technology, health care, and advising early-stage businesses

Béla Jankovich de Jeszenice

Former CEO & Co-owner of public, medium size technology company in Holland and Germany Former co-owner of ProfiPower: executive search in Hungary Expert in technology, manufacturing and services Former iEurope Agricultural Partner Presently active in agriculture investments and operations in CEE

Partner in Accrelium AB, Private Equity firm Former Managing Director, ABB Hungary An experienced executive with extensive network and knowledge of various industrial and consumer businesses

Founder and CEO, Alta Investors, a New York-based investment advisory and consulting firm Co-Founder and Board Member of Gerson Lehrman Group (global research and consulting services firm) and Boliven (IP/R&D information services company) Operating and board-level experience building early and growth stage technology-enabled businesses

Chairman, Greenwich Management Group, Inc Former Partner, Foster Management, private equity Former officer in technology management consulting with Booz, Allen and Hamilton Expert in building businesses in healthcare, services and alternative energy

Former Chief Executive Officer, Wikia Mr Penchina was formerly Vice President of eBay © International He is an investor in about 50 Internet properties

Co-Founder and President of Dominion Diagnostics, a clinical drug testing company, and member of its Board of Directors, Scientific Advisory Board and Addiction Advisory Board Expertise in medical diagnostics and in building and selling early and growth stage medical diagnostic companies

Private Investor and Advisor Mr Sodi has led over 120 acquisitions as a lead investor, across Europe, North America and Latin America while at Veronis Suhler Stevenson where he worked for 23 years He started and led all aspects of VSS activities in Europe since 1999 Expertise in Technology, Media and Telecom

We assist entrepreneur managers of promising companies to build and to sustain a significant leadership position in their industry iEurope’s partners, investors, advisors and associates have the depth of professional expertise and local experience necessary to identify, nurture and drive select medium- to small-size companies in Central  Eastern Europe iEurope is uniquely placed, with its experience and investors’ networks, to help innovative growth companies realize their full potential

Being at the helm of your own business can be a lonely place: Is the strategy you chose for the company the right one?  How well does it take into account what your competitors will do, or how the markets will evolve?  By collaborating with management we often find the quickest path to growth

As your company grows you need operational processes in place to withstand growth, including regular financial and operating reporting, and enhanced management information systems iEurope helps you have confidence in your systems and management so that you have more time to focus on profitable growth

Do you want to reach leading experts in your business to get their opinion? iEurope has a global network of business contacts in a wide range of sectors who will share their business and industry insights and their networks

iEurope invests its own capital alongside yours in order to accelerate your company’s growth We also invest our time and intellectual capital derived from years of experience

Do you know who your customers are? Why do they buy your products? What are your most profitable products? Who else could be your potential customers and how can you reach them? How much should you spend on marketing? iEurope helps you understand your markets so that sales efforts are most efficient

We take an active role on the Board of Directors and conduct operating reviews with management on a regular basis We are committed to making substantial contributions to the success of our investments We invest both intellectual and financial capital into our portfolio companies

How many people should run the business? Are the tasks properly delegated? Are the managers motivated to stay on for the medium to long-term? What type of professionals should you hire for top and middle-management, as the company grows? We know how to get the best out of people

Do you want to acquire competing or complementary businesses but are limited by transactional experience? iEurope’s professionals have collectively bought and sold well over a hundred businesses and have first-hand experience in helping you pick the right targets, as well as execute the transaction

Geographic and Investment Focus

• E-commerce and Technology-enabled Business Services