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Best In Class Software Engineering With Digital Strategy & Business Consulting

EPAM is a US corporation with 57,000 staff, mainly software engineers, delivering complex software
projects to some of the world's largest businesses.

COUNTRY

US, significant operations in CEE

INVESTED

€ 1.0 million (Fathom), $ 10.0 million (EPAM)

FIRST INVESTED

in Fathom Technologies, acquired by EPAM, in 2001 and in EPAM itself in 2008

EXITED

2013

Investment rationale

Although it was still a decade before Marc Andreesen would famously declare that "software is
eating the world", even in the early 2000's the arguments for high quality, low cost software
development sold internationally by world class sales teams already appeared compelling.

Growth

Euroventures invested in Fathom Technologies which started with 40 software engineers in Budapest
in 2001. Within a few years this has been acquired by EPAM, founded a few years earlier, also with
CEE roots. By the time of the financial crisis of 2007/8 the combined group had around 3,000 staff.
Over the years 2008-10, when capital was scarcer, Euroventures invested a further $ 10 million.

Exit

EPAM's shares were listed on the New York stock exchange in 2012 (NYSE:EPAM), Euroventures sold
its holding by public market trades mainly in late 2013.

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