+++ Press release +++
German Startups Group: Focus investment AuctionTech enters into global partnership with star auctioneer Simon de Pury
Berlin, 13 September 2019 – AuctionTech, a Berlin-based software provider of tailor-made, highly scalable online auction solutions and a focus investment of German Startups Group, has formed a partnership with star auctioneer Simon de Pury for the launch of a global online live video auctioning technology. Simon de Pury, a leading figure in the international art market, has, over the course of his career, secured a substantial number of the most legendary art collections for auctions and private treaty. He founded the third largest auction house worldwide, Philipps de Pury, was Chief Auctioneer Wordwide at Sotheby`s and is an active charity auctioneer, who raised hundreds of millions for foundations such as the Leonardo DiCaprio Foundation or the Prince Albert II. of Monaco Foundation.
Together with de Pury AuctionTech has developed an innovative live video online auctioning format which enables live auctions to be broadcasted via the internet from anywhere in the world in true real time. Customers from all over the world can participate and bid in real time from any device. The auction itself will be broadcasted in highest image and sound quality via livestream without the otherwise usual 3-5 seconds latency. By doing so, AuctionTech sets a new standard for the facilitation of digital auctions worldwide.
The basis for the necessary software and hardware technology has been purchased in 2017 by German Startups Group together with AuctionTech from the insolvency estate of former Auctionata AG which had been developed by today’s core team of AuctionTech headed by CEO Jan Thiel for a double-figure million euros range. German Startups Group has been lead investor since 2017 and has since then gradually increased its stake. It now holds 23.1% in AuctionTech.
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German Startups Group
German Startups Group – We Love Startups!
The German Startups Group, a publicly traded company comprises one of the leading VC providers in Germany with a digital agency employing 150 staff in Berlin. With a focus on Germany’s young, fast growing companies – so called startups – the company acquires majority and minority shareholdings by providing venture capital. The core investment focus is on those tech companies whose products or business models include disruptive innovation, allow for a high degree of scalability and are run by strong entrepreneurial management teams. Since it commenced operations in 2012, German Startups Group has built a diversified portfolio of stakes in such companies and has become the most active private venture capital investor in Germany (CB Insights 2015, Pitchbook 2016). With the launch of G|S Market™ via a wholly owned subsidiary German Startups Market GmbH, the company operates a secondary market platform for tech assets since June 2018. Its majority holding, German Startups Asset Management GmbH, will launch its own novel type VC funds in the future and provide SPVs for G|S Market™ on the acquirer side in order to enable several investors to acquire larger investment opportunities through pooled investments.
More information at https://sgt-germanpe.com/.