Media Statement


In light of recent events, Baring Vostok Capital Partners (BVCP) announces that it continues to conduct business as usual, and that Senior Partner Elena Ivashentseva and Co-Founder Alexei Kalinin have jointly taken on the responsibilities of leading BVCP.

On behalf of Michael Calvey and the whole BVCP team, Elena and Alexei would like to express their sincere gratitude to colleagues, partners and friends for the strong support that has been offered in recent days.

“We have always acted in full compliance with the law and believe that truth is on our side. Your support has given us additional strength and inspired us to fight for what we know to be right. The claims that have been brought against our colleagues are baseless and simply untrue, and we are convinced that this will be established in court,” Elena and Alexei said.

In addition, to ensure efficiency and operational continuity, the company has temporarily suspended the authority of four employees: Michael Calvey (Senior Partner), Vagan Abgaryan and Phillipe Delpal (Partners) and Ivan Zyuzin (Investment Director). The decision affects only their roles at BVCP. The company would also like to stress that all investment decisions continue to be taken – as has always been the case – by the independent investment committee of the Baring Vostok funds, which includes only one representative of BVCP.

For 25 years the Baring Vostok funds have made a substantial contribution to Russia’s sustainable economic development by investing in advanced Russian companies, many of which have become leaders in their respective industries and have successfully entered international markets. In the last three years alone, Baring Vostok funds have invested more than USD 900 million in Russian companies and are continuing their activities at present.

For further information, please contact:

Denis Denisov



9 Lesnaya St., White Gardens Business Center, Building B,
6th Floor, 125196, Moscow

Tel.: +7 495  967 1307 | Email:


1 Royal Chambers, St Julian’s Avenue, Saint Peter Port, GY1 2НН, Guernsey

Tel.: +44 1481 736 947 | Email: