Oleg Boyko has over 25 years of entrepreneurial and
private equity experience in financial services, banking, retail, steel
industry, real estate and entertainment. Mr. Boyko is currently the
principal beneficiary of Finstar
Financial Group investment holding, a
diversified private equity firm with an estimated market value of
assets under management exceeding $2 billion.
Since the end of the 1990s, Mr. Boyko has been active in securities
trading as well as real estate development.
In 1999 he launched Evraz Group with a business partner, buying the
assets of steel firms, and consolidating those assets. Mr. Boyko guided
the company’s strategic development, built a professional management
team, and greatly enhanced both operating performance and shareholder
In 2000 Mr. Boyko and a team of professional executives formed Finstar
Financial Group as an investment vehicle and management company in
order to identify, invest in, and actively manage businesses on behalf
of Mr. Boyko and other private investors.
Finstar has focused on propelling operational progress at EvrazHolding,
and in 2001 the holding began to expand into other businesses. In 2004
Finstar sold its stake in EvrazHolding to the company’s management for
an estimated $600-700 million. Since then the Group has drawn its focus
on other businesses.
Oleg Boyko told in an interview: “I sold my interest in EvrazHolding in
2004 to focus on developing other businesses, because I prefer more
intellectual games. I have been always attracted to sophisticated
finance, and also to retail. These are more difficult to develop and
turn around, but that is much more interesting to me.”
Group currently specializes in direct investments into
fintech businesses, retail, real estate and operates through its
subsidiaries in the European Union, Asia and the CIS countries. Boyko
exited the gaming business in 2014.
“Our investment holding follows the following pattern: We identify a
segment with a high return potential and look for a small company that
either enjoys a unique market position or holds some sort of a business
know-how. Then we buy between 51 and 75 percent of its equity - this
range allows us to run the company at our discretion and to get the
maximum returns on our investment upon exit. For instance, the Rive
Gauche perfume and cosmetics chain used to be a regional player with
stores located mainly in St. Petersburg. Under our influence, it took
them four years to become the leader of Russia's cosmetics market.
Revenue reached 15.6 billion rubles ($501 million) in 2010 and 21.3
billion rubles ($685 million) in 2011. We sold a controlling stake
there in 2012. Once annual growth rates fall below 20-25 percent, it's
time for us to exit”, -
Oleg Boyko told to RBTH
Having previously invested in the traditional banking sector for many
years, the focus now is on fintech and digital financial services. This
is an area of high growth potential and the in-depth industry knowledge
means the Group can identify industry best practice and therefore, are
a valued senior partner in new financial businesses. Regarding some
media reports Boyko is one of the principal investors of the 4finance
Global investor Oleg Boyko identifies fintech as a core component of
his five-year investment plan. In 2017 he has earmarked US$150 million
to put towards the fintech space in a bid to provide funds to broaden
Finstar international presence in mobile-first consumer finance. Oleg
Boyko aims to fortify the Group’s holdings in innovative consumer
technologies and to spread its portfolio exposure to fast-growing
emerging markets across Europe and Asia-Pacific. A year before the
announcement, Mr. Boyko
made investments in several European fintech enterprises.
describes his current international PE firm’s investment strategy:
“Finstar is stage-agnostic, but the core focus will be on early-stage
deals from the seed stage through to Round B. Finstar will maintain its
focus on transformational financial services platforms and businesses.
We will look more broadly at our investment thesis and aside from the
core focus on FinTech and InsureTech, we will also seek
FinTech-enabling models within realms of AI, data science, AdTech and
Finstar’s philosophy of partnership brings strategic value and insight
to growth investments, allowing its companies to succeed in complex
developing markets. They nurture the businesses they invest in,
providing them with expert advice of the highest calibre. They also
offer fintech companies the freedom to continue innovating and to grow
at a pace that they dictate themselves. They have highly developed
expertise at the HQ level, which allows it to serve as a centre of
Oleg Boyko occupies the 1561st spot on Forbes list of world`s richest
people ranking with a personal wealth estimated at $1.5 billion.
Mr. Boyko has also been a keen participant in the film industry,
co-producing Frank Miller's Sin City: A Dame to Kill For.
“Naturally. I went to Hollywood and lived there for six months. I
wanted not to just make a film, but to understand how the film industry
is built. I have to say, I found many things that surprised me. I
bought a bunch of books and the first of them, on the first page, found
in large print (paraphrasing, not verbatim): "people invest in a movie,
as a rule, for emotional reasons, from a desire to join the art.
Someone has to carry the creative risks." The most important and
unpleasant law in the film industry is that out of ten films shot,
seven films lose money, one breaks even and only two earn money.
Meaning that this is, in fact, venture capital investment,” Oleg Boyko
The movie Sin City 2: A Dame to Kill For was released in August 2014.
Immediately after the release of the first part of Sin City in 2005,
director Robert Rodriguez said that the film will have a sequel.
However, shooting the sequel did not begin until the fall of 2012.
In 1996 Boyko and a team of professional executives formed Finstar Financial Group
as an investment vehicle and management company in order to identify,
invest in, and actively manage businesses on behalf of Boyko and other
In 2002, Boyko`s Finstar founded Ritzio Entertainment Group, investing
in casinos and gaming, a business that expanded across Russia and
internationally. In 2010, Boyko became an investor in lottery
businesses in Russia and Ukraine, including the national lottery to
support the Sochi 2014 Winter Olympic Games. He has subsequently
disposed of all his lottery interests.
In 2003, Finstar purchased a controlling stake in a Latvian commercial
bank, Baltic Trust Bank. In 2006, Finstar sold its 79% stake
to GE Capital, the banking and finance arm of General Electric.
In 2006 Boyko entered the real estate market through a new holding
In 2006, under Boyko, Finstar acquired 75% of Russia’s second largest
cosmetics and perfumery chain, Rive Gauche. In 2012, Boyko
sold 51% of his stake to a consortium of investors but continues to
hold 24% of the business.
In 2013, Boyko announced Finstar’s investment in FashionTV, a fashion
channel which broadcasts in 192 countries. .
In 2016, Boyko’s
Finstar furthered its tech investments by announcing
its acquisition of a 51% stake in Prestamos Prima, in addition to
leading Spotcap’s third funding round.
has about $2 billion in assets under management. The
diversified investment company holds ownership stakes in fintech, real
estate, entertainment, IT, retail products and more. Finstar clearly
wants to become a significant player in emerging fintech industry
Oleg Boyko has over 25 years of entrepreneurial and private equity
experience and his business interests include banking, financial
services, retail, leisure, heavy industry, and technology.
Since the end of the 1990s, Mr. Boyko has been active in securities
trading as well as real estate development. He arranged a buy-out,
roll-up, and restructuring for three of the leading steel mills in
Russia and formed EvrazHolding, the largest steel company in Russia.
Mr. Boyko guided the company’s strategic development, built a
professional management team, and greatly enhanced both operating
performance and shareholder value.
In the mid of 1990s Oleg Boyko founded Finstar investment holding and
prefers to develop businesses in different sectors analyzing various
In an interview he gave to RBTH, Mr. Boyko briefly summarized: “I am
consciously avoiding the oil industry, even though I've had a chance to
take part in privatization of industrial facilities. I dabbled in
metals back in the day, but that was by chance. We swapped metals and
mining companies' bank debts for equity, and two years later we created
the EvrazHolding metals giant.”
“I sold my interest in Evraz in 2004 to focus on developing other
businesses, because I prefer more intellectual games. I have been
always attracted to sophisticated finance, and also to retail. These
are more difficult to develop and turn around, but that is much more
interesting to me,” he added.