+++ Press release +++
Successful exit of German Startups Group with its focus investment Delivery Hero AG
- – German Startups Group realises capital gains through the sale of shares in the course of the IPO of its focus investment Delivery Hero AG
Berlin, 03 July 2017 – The, according to its own reports, globally leading and only 2011 founded provider of the marketplace for food orders and deliveries, Delivery Hero (e.g. Foodora, Foodpanda and hungryhouse), successfully went public on 30 June 2017 on the Frankfurt stock exchange, now quoting in Prime Standard and marking the biggest IPO in the current year 2017 with an issue volume of roughly 1 billion euros. Around half of it flows back to the company which is now valued at 4.4 billion euros. In the financial year 2016 Delivery Hero was able to grow its revenues by 79% compared to 2016 to a total of 297 million euros. Within the first quarter of 2017 the company even doubled their turnover compared to the previous-year period to 121 million euros. Not least because of this a multiple oversubscription resulted within the IPO, demonstrating the keen interest of investors in the disruptive business model of the German flagship startup.
German Startups Group, the most active private venture capital investor in Germany since 2012 (CB Insights 2015, PitchBook 2016) invested in 2013 and 2014 in Delivery Hero and now sold its shares in the course of the successful placement within the IPO of the focus investment, realising proceeds of roughly 1.7 million euros and through it a multiple of the capital invested of nearly 5x as well as an internal rate of return (IRR) of over 60% p.a. Compared to its acquisition costs, German Startups Group achieves capital gains of ca. 1.3 million euros, respectively 0.11 eurosper share (IFRS).
Christoph Gerlinger, CEO of German Startups Group, comments: “The successful exit with Delivery Hero makes us happy in multiple ways: Firstly, we can record a remarkable economic success, secondly, our approach of systematically buying so called secondary shares sees itself confirmed once again, which meanwhile we are well-known and appreciated for within the market. The Delivery Hero Team around Niklas Östberg have carried out excellent work over the last few years, especially the ambitious but successful internationalisation in over 40 countries is no matter of course for a German startup. It is another proof that also German startups and tech companies have the potential to become global market leaders. We sincerely thank the whole team for their excellent hard work of the last few years!”
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German Startups Group
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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). 22 of the 41 minority stakeholdings in operationally active companies are of particular significance to German Startups Group and together comprise 90% of the total value of all 41 active minority stakeholdings. The ten core holdings alone make up 57% 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://sgt-germanpe.com/.