Kyiv, December 28, 2021 – 4i Capital Partners, a leading private equity investment firm in Ukraine, has announced its full exit from Sperco Ukraine, a niche-leading pharmaceutical company in Ukraine, through a management buyout led by the company’s Chief Executive Officer, Pavlo Shchygoliev.

Established in 1997, Sperco Ukraine is one of the top 10 pharmaceutical manufacturers in Ukraine, with a portfolio of over 40 generic products. The company manufactures and markets lifestyle OTC and Rx pharmaceuticals, in therapeutic areas such as cough and cold, women’s health, pediatrics, dermatology and antibiotics. The company offers generic alternatives to well-known original pharmaceuticals, maintaining European quality standards through own production and quality control facility in Ukraine.

Europe Virgin Fund L.P. managed by 4i Capital Partners invested in Sperco Ukraine in November 2012. The Fund’s investment was primarily used for completing reconstruction of the company’s manufacturing facilities in Vinnitsa in line with GMP standards, developing company’s product portfolio and expanding distribution network. Mr. Shchygoliev joined Sperco Ukraine team in 2015 and the company’s revenues have quadrupled since.

“I am very grateful to 4i Capital Partners for a visionary approach in their investment. Thanks to their strategic guidance and our team effort we have jointly built Sperco into a socially responsible business and one of the fastest growing companies in the market.” said Pavlo Shchygoliev. “My team is excited to extend our commitment to deliver European quality medicines to Ukrainian consumers. Our goal also remains unchanged – Sperco shall continue to be a spirited company pursuing sustainable growth, with focus on HR development and launch of innovative products” concluded Pavlo Shchygoliev.

About 4i Capital Partners

4i Capital Partners ( is a private equity investment firm managing investments in Ukraine. The company’s principals have been making buyouts, expansions, restructurings and realizations in the region for over two decades. 4i Capital Partners was founded in March 2016 with the aim to capitalize on the opportunities resulting from the fundamental overhaul of Ukraine, one of the largest European countries. The investment team currently manages Europe Virgin Fund, with US$57 million of committed capital and instrumental support from the international finance institutions, such as the European Bank for Reconstruction and Development, the Black Sea Trade and Development Bank, the Swiss Investment Fund for Emerging Markets, and Dragon Capital.