CONFIDENCE
BACKED BY EXPERIENCE
Founded in 2006, ICU Group is a private investment group with offices in Tortola (British Virgin Islands), Dubai (UAE), Limassol (Cyprus) and Kyiv (Ukraine), investing its own capital across public and private markets globally, with a core focus on emerging and frontier markets.
Our Capabilities
ICU Group combines dedicated investment, analytical and portfolio management capabilities with an international network and established institutional investment infrastructure.
Market Access & Infrastructure
ICU Group is an approved ISDA and GMRA counterparty with leading international investment banks.
ICU Group is also a member of the Trade Association for Emerging Markets (EMTA).
Our investment infrastructure is supported by established relationships with global financial institutions and brokers, custodians, independent research and market data providers, and law firms across key jurisdictions.
Investing our own capital allows us to take a flexible, selective and long-term approach.
We evaluate opportunities across asset classes, capital structures, geographies and investment horizons, without the constraints of traditional fund mandates or deployment schedules.
We focus on situations where independent research, disciplined underwriting, flexible capital and specialist expertise provide a differentiated view of risk and value.
Research-led.
Flexible.
Active
While our investments differ in structure, stage, geography and liquidity, the principles behind them remain consistent. We seek to understand fundamental value, assess downside risk and identify situations where complexity, dislocation or market inefficiency create attractive risk-reward opportunities.
Independent Research
Our investment team develops independent views through fundamental research, rigorous analysis and direct engagement with market participants. ICU’s research has been recognised on multiple occasions by the Euromoney Awards for Excellence and the FocusEconomics Analyst Forecast Awards.
Risk Management
We assess the downside before the upside, size positions accordingly and treat capital preservation as the starting point of return.
Flexible Capital
We adapt capital, structure and investment horizon to the opportunity, rather than fitting opportunities into a predefined mandate.
Active Engagement
Where appropriate, we engage actively with companies, shareholders and other stakeholders throughout the investment lifecycle, including restructuring and enforcement where required.
Distressed and special situations credit, emerging markets debt, private equity, venture capital and venture debt.
Distressed & Special Situations Credit
Value-oriented and event-driven investments in stressed and complex credit, restructurings and capital-structure opportunities.
Emerging Markets Debt
Sovereign, quasi-sovereign and corporate debt across emerging and frontier markets, where local knowledge creates an edge.
Private Equity
Special situations, including operational and financial transformation, ownership transitions and other opportunities where flexible capital and active involvement unlock long-term value.
Venture Capital
Scalable, technology-enabled businesses, with a focus on financial technology, payments and AI-driven platforms.
Venture Debt
Debt financing for venture-backed and growth-stage technology companies, complementing equity with structural protection and current income.
We follow opportunity wherever it arises.
Our investment universe is global, spanning developed markets as well as emerging and frontier markets across Central and Eastern Europe, the Middle East, Africa, Asia and Latin America.
How we assess opportunities
Fundamental value
What a business or asset is truly worth, independent of market sentiment.
Market structure
How liquidity, regulation and capital flows shape the way value is realised.
Risk-reward
Whether the expected return justifies the risk we take.