US Presidential candidate Mitt Romney has investments in Estonia

20.04.2012, 14:53

Republican candidate in the upcoming US presidential elections, Mitt Romney, is a shareholder in the investment company Bain Capital that together with other investors  placed several million euros into an Estonian start-up Zeroturnaround last year, reports ERR News.

One of Estonia’s largest software developers Webmedia Group sold its 47.5 percent holding in Zeroturnaround to Bain Capital Ventures last July.

Boston-based financial services company Bain Capital was established in 1984 with Romney as one of the founders.

The former governor of Massachusetts was at the forefront of the company for over a decade, maintaining a shareholder role since late 1990s.

Zeroturnaround is a fast-expanding company that sells JRebel software designed to make programming significantly more efficient.

Established in 2009 by Jevgeni Kabanov together with Estonia’s largest software developer, Webmedia, the company can boast world-renowned customers, such as American Airlines, AT&T, Bank of America, Cisco and Disney.