First Frontier and InterCapital (Croatia) sign Cooperation Agreement

First Frontier Capital Limited (First Frontier) and InterCapital Securities Limited (InterCapital) are pleased to announce they have entered into a strategic Cooperation Agreement to promote foreign investment in Croatia, Slovenia and Serbia.

First Frontier is an independent London based investment bank focussed on providing institutional investors with a “one-stop-shop” in respect of the Frontier Markets globally. First Frontier’s offering comprises origination, research and execution in frontier and pre-frontier markets.

Since its establishment in 2001, InterCapital has strived towards becoming the leader in securities and investment management and investment banking services in the Republic of Croatia. Their mission is to further advance the ongoing development of our domestic capital markets through the introduction and implementation of innovative financial products, know-how and sophisticated international standards in financial mediation services. The InterCapital Group is headquartered in Zagreb and covers neighbouring markets of Slovenia and Serbia. InterCapital employs 50 professionals.

The agreement enables First Frontier’s clients to receive co-branded equity research on the three Balkan markets covered by InterCapital, namely Croatia, Slovenia and Serbia, and to trade equities locally in each of those countries. First Frontier and InterCapital will also work closely together in other areas, both in public and private equity, fixed income, and other areas of investment banking.

With the addition of InterCapital and having already signed similar agreements in Romania and Bulgaria, First Frontier has completed its roll-out in South-Eastern Europe. Through its network of leading local brokers, First Frontier can now provide a comprehensive product across the region, which in turn will play a crucial part in the group’s global offering across all frontier markets.

Martin Gollner, Co-CEO of First Frontier, commented: “We’ve been very impressed with the high standards at InterCapital, from the quality of their research product to the client-focused approach of their corporate finance division. Former Yugoslavia offers many interesting investment opportunities and has been ignored by many international investors for too long, in our view. We look forward to working closely with the InterCapital team and actively promoting the region as an attractive investment destination.”

Ivan Kurtović, President of the Management Board of InterCapital, commented: “Our mission is inclusion of our core markets – of Slovenia, Croatia and Serbia to international capital flows – by providing access to international investors to the best companies our Region has. We believe that many of those companies represent compelling investment targets, particularly taken into consideration growth path our Region has to pass in its convergence to EU standards. In that respect we are happy to start cooperation with First Frontier, a dedicated specialist to our Region and other global frontier markets.


Mi smo InterCapital, vodeće nezavisno investicijsko društvo u Republici Hrvatskoj. Našim klijentima, domaćim i stranim institucionalnim investitorima, korporacijama i privatnim ulagačima pružamo vrhunsku uslugu posredovanja na financijskim tržištima u Hrvatskoj i svijetu. I pritom nastojimo uvijek biti ispred.