Morningside Hill Capital Management

Morningside Hill Capital Management is a privately owned investment firm based in Sofia, Bulgaria, employing a value investing approach across venture capital, private equity, hedge funds, and mutual funds. The firm emphasizes rigorous, in-depth fundamental research and focuses on measurable, quantifiable, and monitorable investment factors to achieve long-term investor value. They prioritize a disciplined institutional approach and best practices implementation, enhancing their due diligence with an extensive network of industry professionals, management teams, investors, and other relevant experts. A culture of learning, efficiency, and constant improvement is promoted within the firm. In venture capital, Morningside Hill launched a EUR 38.5 million fund in November 2019 specifically to provide growth capital to Bulgarian startup companies. The fund targets equity (or equivalent) minority positions in 25 to 30 companies, with EUR 33.3 million sourced from public funds managed by the Fund Manager of Financial Instruments in Bulgaria EAD, co-financed by European Structural and Investment Funds for the 2014-2020 programming period. They seek early-stage startups (post-seed) that have a viable, market-validated product or service and are generating initial revenues or are close to doing so. The typical investment holding period is 5-10 years, with exit opportunities evaluated on an ad hoc basis. The investment strategy is sector agnostic but prioritizes companies with significant operations in Bulgaria (generating at least 50% of revenue, having at least 50% of staff, or holding at least 50% of assets in a Bulgarian subsidiary). They look for exceptional management teams with ideas addressing specific market needs, products or services with a substantial total addressable market, international competitiveness or defensible local advantages, realistic growth potential, a measurable competitive advantage, solid cost control, innovative approaches, operational transparency, a viable exit strategy, and adequate valuation.

Sector agnostic

Core thematic spaces, technologies, and target market segments of interest.