+++ Press release +++
Renowned investor selected to the supervisory board of German Startups Group
- – All proposed resolutions of the company approved by the general meeting
– Management expects sale proceeds of 8% of its market capitalisation for its Delivery Hero holding
Berlin, 8 June 2017 – German Startups Group, most active private venture capital investor since 2012 (CB Insights 2015, PitchBook 2016) and Berlin-based digital agency with 140 employees, held its general meeting in Frankfurt today. All proposed resolutions of the management and the supervisory board were approved by an approval rate of at least 99.5%, among them the rotational election of a new supervisory board. Apart from the long-standing supervisory board members Gerhard Koning and Martin Korbmacher, the company managed to attract Markus Kronenberghs, whose main occupation is Managing Director of Cara Investment GmbH and private equity expert, and for the newly-established substitute membership Reiner Sachs, whose main occupation is Chairman of the Executive Board of the Shareholder Value Management AG and Executive Board Member of the Shareholder Value Beteiligungen AG, a portfolio manager specialised on small caps. Two significant institutional shareholders of German Startups Group thereby reinforce their commitment to the company. Shareholder Value Beteiligungen AG has established a reputation of detecting underpriced stocks with its successful small cap funds.
Because of the more and more specific press releases of its portfolio company Delivery Hero concerning a planned IPO, Christoph Gerlinger, CEO of German Startups Group,expects sale proceeds of just under 2 million euros or 8% of the company’s market capitalisation still in this year, give or take possible variations in Delivery Hero’s IPO valuation of 3.5 billion euros that are circulated in the market thus far and comments,„We are glad that Delivery Hero is on the verge of taking the leap onto the stock exchange and have decided to sell the stocks that result from our shares in the IPO even though we are convinced of the attractiveness of Delivery Hero’s business model and its prospects of further growth and increase in value. As a venture capital investor, however, it is not our purpose to hold on to public shares because, starting with the listing, they are accessible to our shareholders without our help.We are instead concerned with the participation in the performance of startups before they go public. Our investment in Delivery Hero is a great success to us since we got in in 2013 for a fraction of the current valuation and have recorded a steady increase in value since. The only drop of bitterness–due to our limited financial means back then our share is significantly lower than would be the case according to our current balance sheet ratios.“
Investor Relations Kontakt
German Startups Group
Marcel Doeppes
ir@tpgholding.com
www.tpgholding.com
German Startups Group – We Love Startups!
German Startups Group is a listed investment company based in Berlin that focuses on young, fast-growing companies, so-called startups. The company acquires majority and minority shareholdings mainly by providing venture capital. The portfolio companies that German Startups Group holds also stand to benefit from German Startups Group’s expertise, experience and network with respect to strategy development, financing rounds, restructuring necessities, M&A transactions or selling the company, including a possible IPO. According to its own assessment, German Startups Group provides startups with so-called “smart money” by acquiring a shareholding. Its focus is on companies whose products or business models represent a disruptive innovation, allow for a high degree of scalability to be expected, and in which it has a great deal of trust in the entrepreneurial abilities of the founders to whom it feels that it obtains early access to due to its close relationships to relevant players in the startup scene. The geographical focus is on the German-speaking region. Since it commenced with operations in 2012, German Startups Group has in its opinion built up a diversified portfolio of investments in young companies and become the most active private venture capital investor in Germany since 2012 (CB Insights 2015, PitchBook 2016). 24 of the 43 minority stakeholdings in operationally active companies are of particular significance to German Startups Group and together comprise 91% of the total value of all 43 active minority stakeholdings. The ten core holdings alone make up 62% of the value of all active minority stakeholdings. According to German Startups Group, its investment portfolio reflects a cross-section of promising German startups of various maturity stages (“Seed,” “Early” and “Growth Stage,” by German Startups Group’s own definition) and includes some of the most successful and best known German startups.
More information at https://tpgholding.com/.