+++ Press release +++
SGT German Private Equity becomes German AI Group –
General Meeting to vote on the company name change in August
- Announcement of details about the future Artificial Intelligence business and publication of the 2023 annual report planned for June
- Christoph Gerlinger in an interview with Finance TV
- General Meeting including presentation of the new business division on 14.08.24
- Sales of VC shareholdings and cost reductions
Frankfurt/Main, 7 June 2024 – SGT German Private Equity (“SGF”), a holding based in Frankfurt am Main, intends to announce details of its planned shift towards Artificial Intelligence by the end of June. The goal is to quickly build critical expertise, attract and retain AI talent, and return to profitability without major investment, while creating a platform to incubate promising AI startups. In an interview published earlier this week with Finance TV, founder and CEO Christoph Gerlinger provided initial details on this.
The Annual General Meeting of SGF is scheduled to take place on 14 August 2014. On this occasion, the company will present the new business segment to its shareholders and put the change of name to ‘German AI Group’ to a vote. The invitation and agenda will be sent out in due time.
In May, the subsidiary German Startups Group VC GmbH succeeded in partially selling two VC investments at respectively above book value. After the compensation of the managing general partner German AI Group Management GmbH has already been significantly reduced since the beginning of the year, this has now also been achieved for the remuneration of the Supervisory Board. With retroactive effect from 1 January 2014, the Supervisory Board waives half of its statutory remuneration until further notice. In addition, the company will put a reduction in the size of the Supervisory Board to three members to a vote at its Annual General Meeting.
Investor Relations Contact
Rosenberg Strategic Communications
Dirk Schmitt
d.schmitt@rosenbergsc.com
+49 170 302 8833
About SGT German Private Equity
SGT German Private Equity is a listed investment holding based in Frankfurt am Main.
From mid-March 2024, the company focuses entirely on artificial intelligence and change its name to ‘German AI Group’.
From its origin as a leading German venture capital provider under the former name German Startups Group, SGT German Private Equity holds a heritage portfolio of minority stakes in some promising German Tech Startups.
More information at https://sgt-germanpe.com.