+++ Press release +++
German Startups Group sells stakes in holdings and repays debt prematurely
Berlin, 11 July 2019 – German Startups Group, a leading venture capital provider in Germany and Berlin-based digital agency with 150 employees, sells one focus investment entirely and another one partially and achieves a mid-single-digit million proceed (euros). A part of the proceeds will be used to repay two loans in the amount of EUR 2.5 million prematurely, one of them well before the agreed repayment date.
For the second half of 2019, too, the management is focusing on the sale of shares and expects that this will be successful in those intended cases through trade sales and exits and that it will achieve significant capital gains. For the full year 2019, management expects proceeds from sales of stakes in holdings of more than half of its current market capitalization.
As long as the GSG share price is significantly lower than the Net Asset Value (NAV) per share in the eyes of the management, it wants to use sale proceeds for further share buybacks of its own shares, subject to approval of the supervisory board, and fully exercise the legally permitted volume for the use of own shares under exclusion of subscription rights.
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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/.