--- title: "ACMERO Capital: the Hong Kong company, investments and changing ownership" language: en canonical: https://dossiertwist.com/dossiers/acmero-capital/ as_of: 2026-09-14 keywords: ["ACMERO CAPITAL LIMITED","Acmero","Hong Kong","Shokoladnitsa","Monopoly","Ecoline","Siman Povarenkin","Acmero Limited","RBE"] --- # ACMERO Capital: the Hong Kong company, investments and changing ownership **Question.** What does the retained record establish about Acmero Capital and its investment network? **Answer.** The evidence identifies a Hong Kong investment manager and historical investments in restaurants, freight and waste services. Separate legal entities, later exits, corporate records and case-specific outcomes are essential to understanding the network. ## What this research adds - Analysis: The account separates similarly named legal entities and reconciles dated investment records with later exits, financial statements, denials and a personal civil judgment. [s-d20] [s-d46] [s-d7] [s-d27] [s-d9] [s-d225] [s-d58] [s-d252] [s-d47] [s-d79] [s-d198] ## The company and the investment structures - Analysis: ACMERO CAPITAL LIMITED is identified in retained Hong Kong company-directory records as a private company limited by shares incorporated on 10 June 2014. The records distinguish company registration number 2106683 from business registration number 63442312. These are two identifiers for the Capital company, not two separate businesses. The retained directory pages are secondary records. They do not disclose a complete shareholder or significant-controller register, and their live-status labels are not an assurance about solvency or current operations. [s-d20] [s-d46] [s-d7] - Analysis: The restaurant acquisition announcement describes Acmero Capital acting for Acmero Fund I. It identifies Siman Povarenkin as founder and managing partner and Denis Rusinovich as investment director. Those described management and advisory capacities should be separated from the fund, the portfolio company and any personal shareholding. A founder or manager title is not a complete beneficial-ownership finding. The announcement described a future board appointment for the Acmero representatives; it did not establish every subsequent appointment or current mandate. [s-d27] [s-d9] - Analysis: A retained accreditation-directory record dates the Moscow representative office of ACMERO CAPITAL LIMITED from 24 March 2015 and records termination of accreditation on 5 December 2022. The office is a local representation of the foreign company, not an interchangeable Russian parent company. Termination of this office does not by itself establish dissolution of the Hong Kong company or disposal of every investment previously associated with Acmero. [s-d225] ## Investments changed over time - Analysis: At the end of 2014 and in January 2015, reporting described Acmero’s purchase of 40% of the Shokoladnitsa restaurant group, acting for Acmero Fund I. The combination included Shokoladnitsa and Coffee House businesses. The transaction amount was not disclosed; an approximately RUB7 billion valuation excluding debt was an estimate of the combined business, not the purchase price of the 40% stake. The brand group, its operating companies and its offshore holding companies have distinct identities. The acquisition does not make Acmero the legal owner of every similarly named café company in every country. [s-d27] [s-d58] [s-d9] - Analysis: March 2016 reporting described Acmero acquiring a 38% stake in the freight company Monopoly in December 2015 and committing to invest RUB1 billion in new trucks during 2016. The report described a fleet of about 430 vehicles at the time. The acquisition date, report date and promised spending period differ. A later account calls the closing a 2016 transaction; neither wording establishes a current 38% stake or that the entire investment commitment was spent. [s-d252] [s-d58] - Analysis: A 2021 interview described Acmero as Ecoline’s largest fund investor but said no shareholder held a controlling stake. It said Povarenkin had recently left the board and that the fund monitored budgets and performance indicators. The accompanying account attributed Ecoline’s direct ownership to Liga-Trans, with Acmero holding 50% of Liga-Trans, Evgeny Mikhailov 30.01% and Dmitry Belousov 19.99%. This is a dated interview and reported ownership structure. The Acmero name in reporting does not independently identify every legal entity in the investment chain, and the 50% figure does not establish ownership in October 2026. [s-d47] ## Where the record has limits - Analysis: The same June 2024 group accounts say Monopoly had no immediate parent and no ultimate controlling party at either 30 June 2024 or 31 December 2023. That express statement limits any attempt to turn a historical Acmero investment or a press description of a founder into a current single-controller finding. The accounts’ control statement is not a complete list of every beneficial shareholder or a finding that no investor could exercise influence. [s-d79] - Analysis: A later investigation argued that Ruzanov and other participants connected RBE to Povarenkin and the Rotenberg network, citing prior restaurant interests and professional links. That is an attributed account of suspected indirect interests, not an established current equity register. Professional links and former co-investments do not by themselves prove undisclosed ownership or responsibility for another participant’s conduct. Arkady Rotenberg’s representative said neither Arkady nor Igor had or had ever had a relationship with RBE. The report said Povarenkin and Ruzanov did not respond to attempts to contact them. The retained record does not supply a court finding resolving that asserted connection. [s-d198] ## Sources - [s-d20] Corporate registry source · s-d20 - [s-d46] Corporate registry source · s-d46 - [s-d7] Corporate registry source · s-d7 - [s-d27] Company statement source · s-d27 - [s-d9] Company statement source · s-d9 - [s-d225] Corporate registry source · s-d225 - [s-d58] Media source · s-d58 - [s-d252] Media source · s-d252 - [s-d47] Media source · s-d47 - [s-d79] Company statement source · s-d79 - [s-d198] Media source · s-d198