Black Sea Fund strengthens its team by appointing Andrei Popovici and Iulian Portasă to the Investment Committee

Deniza Cristian 09/11/2022 | 14:07

Black Sea Fund, an investment fund dedicated to accelerating small and medium-sized companies in Romania, with a capital of over 43 million euros, has appointed Andrei Popovici and Iulian Portasă, two specialists with over 20 years experience, respectively 12 years of management and consulting, to the Investment Committee of the organization.


The Investment Committee decides on the transactions that the fund closes.

Andrei Popovici is a member of the Investment Committee and contributes in this committee to the evaluation of potential acquisition targets, as well to the business strategies and opportunities for supporting the companies from the fund’s portfolio.

Iulian Portasă is a partner member and is responsible for the entire analytical process of the investments. He also represents the fund on the Boards of DigiRay and ROOVI (formerly D-Toys).

Andrei Popovici has more than 20 years of operational experience in companies such as Orange Romania Communications, Telekom Romania, McKinsey&Company and Romanian Credit and Investment Bank (Banca Română de Credite și Investiții – BRCI). Since last October, he has been CEO of Orange Romania Communications – the fixed services company of Orange Romania Group.

Andrei holds a Ph.D. from the Swiss Federal Institute of Technology in Zurich (ETH Zurich) and a bachelor’s degree in computer science from T.U. Darmstadt, Germany.

Iulian Portasă was appointed member of BSF’s Investment Committee almost a year after his promotion as a partner. Iulian Portasă has been part of the Black Sea Fund team since 2019, joining the fund approximately six months after its launch. Before BSF, Iulian spent over ten years in M&A consulting covering segments as technology, energy&gas, healthcare and manufacturing. His last role before joining BSF was as a Senior Manager in the Deal Advisory team of KPMG.

He has also contributed as an author on financial management&modelling in a book published by Oxford University Press.

“With these appointments to the Investment Committee, we have strengthened our team with two very valuable people: Iulian is a very good finance and M&A specialist, and Andrei comes with extensive operational experience. This step will help us to better support the companies we have invested in and the entrepreneurs we work with in their growth and expansion plans”, said Matei Păun, founding partner of Black Sea Fund.

Cornel Fumea is no longer a member of BSF’s Investment Committee or Theta’s Board of Directors.

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Deniza Cristian | 27/11/2023 | 17:41
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