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Family HoldingPuts its own capital into companiesLAST VERIFIED Oct 2026 · 6 SOURCES

System Capital Management

Rinat Akhmetov's Ukrainian investment company, founded 2000 in Donetsk; holds 250+ enterprises incl. Metinvest, DTEK, FUIB and Ukrtelecom.

USEFUL FOR Business owners seeking a long-term partner · Co-investors

Family & background

HEADQUARTERS
Kyiv, Ukraine
FOUNDED
2000

Investment approach

SECTORS
Industrial & ManufacturingClimate & EnergyFintechMedia & EntertainmentMobility & LogisticsReal Estate & PropTechFood & AgricultureConsumer & E-commerce
GEOGRAPHY
UkraineEurope
ROUTES
Companies (own capital)
STRATEGIES
Direct investmentsPrivate equity

Overview

System Capital Management (SCM) was founded in Donetsk in 2000 by Rinat Akhmetov, who remains its owner; it began by structuring his initial investment portfolio. SCM Holdings Limited holds the group's assets and SCM Limited manages the sector sub-holdings, which include Metinvest, DTEK, FUIB, Ukrtelecom, Lemtrans, ESTA Holding, HarvEast, TSUM Kyiv and the private equity firm umgi. The group reports more than 250 enterprises, about 150,000 employees and operations in over 30 countries.

Investment thesis

Long-term, actively involved investor across mining and metals, energy, banking, telecommunications, transportation, real estate, agriculture and retail, applying strong corporate governance and industrial development strategies.

Holdings & investments (9)

INVESTMENT ARMS & VEHICLES

  • umgi

HOLDINGS & INVESTMENTS · MOST RECENT FIRST

  • Metinvest
    Industrial & Manufacturing
  • DTEK
    Climate & Energy
  • First Ukrainian International Bank (FUIB)
    Fintech
  • umgi
  • Ukrtelecom
    Media & Entertainment
  • Lemtrans
    Mobility & Logistics
  • ESTA Holding
    Real Estate & PropTech
  • HarvEast
    Food & Agriculture
  • TSUM Kyiv
    Consumer & E-commerce

People

  • Serhiy Zuzak
    Investments; Asset Manager Executive Officer at SCM Holdings Limited · source
  • Jock Mendoza-Wilson
    Investor Relations · source
  • Rinat Akhmetov
    Founder and owner · source
  • Oleg Popov
    Chief Executive Officer; Director of SCM Holdings Limited · source
  • Margaryta Povazhna
    Chief Financial Officer · source
  • Leonidas Kyprianou
    Director, SCM Holdings Limited board · source
  • Petros Petrides
    Director, SCM Holdings Limited board · source
  • Yaroslav Simonov
    Legal Affairs · source

Frequently asked questions

System Capital Management is a family holding based in Kyiv, Ukraine, founded in 2000.

System Capital Management invests its own capital into companies. Its stated asset mix includes direct investments and private equity.

System Capital Management invests in Industrial & Manufacturing, Climate & Energy, Fintech, Media & Entertainment, Mobility & Logistics, Real Estate & PropTech, Food & Agriculture and Consumer & E-commerce.

Key people at System Capital Management include Rinat Akhmetov (Founder and owner), Oleg Popov (Chief Executive Officer; Director of SCM Holdings Limited), Margaryta Povazhna (Chief Financial Officer) and Serhiy Zuzak (Investments; Asset Manager Executive Officer at SCM Holdings Limited).

System Capital Management's holdings and investments include Metinvest, DTEK, First Ukrainian International Bank (FUIB), umgi, Ukrtelecom, Lemtrans, ESTA Holding and HarvEast, among others.