2. 2
Company Presentation
About NECA
World-class advice in Southeast Europe
NECA’s founding partner Ken Lefkowitz, a US-trained economist,
moved to Sofia in 1995 to participate firsthand in southeast Europe’s
transition to a market economy. Helping to advance that transition, and
helping clients realize the resulting opportunities, remains NECA’s
primary focus today.
We seek out projects and transactions that impact the industrial and
economic landscape. We seek to connect capital and strategic partners
to the most capable entrepreneurs. We engage with entrepreneurs to
raise their games and advance their projects.
NECA’s ambition is to set the region’s standard for informed, effective
financial and strategic advice on M&A, capital-raising, project
development, and restructuring. We work to a global standard of
service and compliance, but navigate effectively the region’s many
operational hurdles.
NECA comprises a diverse team of professionals in 3 countries. We
mobilize expertise across the sectors relevant for the region, notably
energy, TMT, water/environment, mining/resources, transportation,
infrastructure, financial institutions, and FMCG/retail.
NECA leverages additional expertise and contacts through its
participation in the networks of EPIC (www.epicinvest.com), a Vienna-
based investment house, and Wyn River Ltd. (www.wynriver.com), a
niche advisory firm focused on improving business performance, as
well as through proprietary contacts with a range of independent
industry experts.
SOFIA
BUCHAREST
PRISHTINA
NECA Partners Ken Lefkowitz, Ivan Chorbadjiev, Mihai Mincu
(from left to right)
3. 3
Our Approach with Startups
Company Presentation
From opportunity to impact
Investment
thesis
•Market opportunity
•Problem
•Solution (product,
technology, team)
Substantiation
•Market study
•Business plan
•Traction
Doc set
•Slide deck (“SDK”)
•Financial model
•Valuation
•Business plan
presentation
•Draft term sheet
•Data room
Transaction
•VC round
•Borrowing
•Strategic partner
•Exit
4. 4
Services
Finance Raising
Strategy articulation and business plan development
Identification of potential investors and pre-marketing
Preparation of pitch deck and info memo
Valuation and term sheet
Investor due diligence facilitation
Negotiation support and closing
Management Consulting
Business planning and industrial project development for startups
Market studies
Interim management
Turnaround and restructuring
Mergers & Acquisitions
Target identification and selection
Due diligence, valuation and deal structuring
Strategic advice and negotiation support
Regulatory Advisory
Regulatory economic analysis and forecasting
Regulatory financial modeling
Company Presentation
6. Successfully advised Neterra, an early-stage
alternative wholesale carrier, on securing a $1 mil.
loan and lease package for building a cross-border
data link.
Developed the business plan for Alexandra DVD, a
startup DVD manufacturing venture, and advised
on the successful arrangement of a €450K
investment loan.
Advised on business planning and capital-raising
for Kino Arena, Bulgaria's first multiplex cinema
development. Successfully raised $750K in equity
from a JV partner.
Advised US Meds, a startup manufacturer of rapid
medical tests, on a successful $400K fundraise
comprising equity and convertible debt from SEAF,
an emerging-markets focused VC fund.
NECA partner Ken Lefkowitz mentored AbCRO,
Inc., a clinical trials startup, from founding until
successful exit to PPG. The role included a review
of the business plan and advice on a $150K loan
facility from OPIC.
Successfully advised wind farm developer Varna
Green Energy on securing an angel co-investor for
procurement and installation of a 0.6MW wind
turbine.
6
NECA Credentials
Startups and Venture Capital
Selected financing mandates
Telecoms
Media &
Technology
Healthcare
Cleantech
7. Telecoms
Media &
Technology
Advised NetIX Communications, a startup
European Internet exchange, on its strategy and
business plan for international expansion. Key
aspects of the assignment included business
planning, preparing investor documentation,
building an international sales team and funnel, and
interim management.
Successfully advised Neterra, an early-stage
alternative wholesale carrier, on securing a cross-
border interconnection agreement
Prepared a market study and business plan for a
greenfield lime kiln for aggregates producer Makalb
Prepared a financing plan and financial model for
TUBOR, a startup manufacturer of innovative PVC
pipes under license from Molecor Empresias
Successfully advised wind farm developer Varna
Green Energy on preparing a bankable
environmental impact assessment and securing an
electrical grid connection
NECA partner Ken Lefkowitz served on the
advisory board of Breo International, a startup
boutique hotel chain for Southeast Europe.
7
NECA Credentials
Startups and Venture Capital
Selected mentoring, planning, and project development assignments
Industrial
Property
Development
Cleantech
13. 13
New Europe Corporate Advisory
Team
Partner bios
KEN LEFKOWITZ, MANAGING PARTNER
Ken is an investment banker with a rich transaction experience including privatization/M&A advisory,
VC and private equity, asset management, and licensing tenders, with transaction volume in
Southeast Europe in excess of €210 million. One of his recent successful engagements is leading
the divestment of the electricity distribution assets of E.ON in Bulgaria. He joined EPIC Bulgaria (now
NECA) in 1997, having previously managed a boutique investment research firm. From 2000 to 2003
he served as Director of Nadejda Privatization Fund.
Ken has been working in Bulgaria since 1995, and covers also Romania, Albania, Macedonia and
Kosovo. He is a past President of the American Chamber of Commerce in Bulgaria and currently
serves on the Advisory Board of Bulgaria’s Institute for Market Economics.
IVAN CHORBADJIEV, PARTNER
Ivan is Partner and senior consultant on project development at NECA, with a focus on industrial
development, energy, and infrastructure. Prior to joining NECA, he served as head of RWE's
representative office in Sofia, with extensive involvement in the fields of energy, water, environment
and construction. His career includes also a number of senior management positions in Bulgarian
enterprises, including Technica and Isotimpex. Ivan has advised the Bulgarian government in the field
of foreign investments and for total 10 years served as trade representative of the Republic of
Bulgaria to Japan and Germany.
MIHAI MINCU, PARTNER ROMANIA
Mihai has more than 13 years of experience in financial advisory. In parallel with his role in NECA,
he is co-founder of Professional Capital, an independent advisory specialized in structured finance
for large infrastructure projects. Between 2008 and 2011, Mihai was Head of Business Development
at East European Activity Fund (EEAF), an industrial holding controlling one of the largest copper
mines and copper products manufacturer in the CEE, with consolidated revenues approximately
USD 400m per year.
Before joining EEAF, Mihai worked at EPIC as Senior Associate and Director in Bucharest office.
From 2007 to 2008, Mihai was Board of Directors member of a regional construction
materials holding and Supervisory Board member of the largest CATV and telecom operator in SEE
region, RCS-RDS. Mihai is a 1997 graduate in Business Administration of the Bucharest Academy
of Economic Studies.
14. 14
Contacts
Contact Information
NECA
New Europe Corporate Advisory Ltd.
www.necadvisory.com
Ken Lefkowitz
Partner
+359 888 637-053
ken.lefkowitz@necadvisory.com
Ivan Chorbadjiev
Partner
+359 888 457-036
ivan.chorbadjiev@necadvisory.com
Mihai Mincu
Partner Romania
+40 722 896-153
mihai.mincu@necadvisory.com
