The Viennese startup mySugr was bought by Roche Diabetics Care in iorder to use the digital services of the company to advance their own digital strategy on the diabetes market.
„It is the biggest deal in the digital health sector yet,“ says Austrian business angel (and venturepreneur) Hansi Hansmann, who was personally involved in the negotiations as a long-time investor and backer of mySugr. It was agreed to keep the purchase price confidential.
The startup mySugr was founded in 2012 by Fredrik Debong, Gerald Stangl, Michael Forisch und Frank Westermann. Currently, it serves one million users with its app that allows them to easily keep track of their blood sugar levels. mySugr considers itself as the global market leader in the field. As of now, the app is available in 52 countries and 13 languages.
„The partnership will be an essential element of our new, open digital ecosytem,“ says Marcel Gmünder, the global leader of Roche Diabetes Care. The negotiations were conducted by mySugr CEO Frank Westermann, Michael Forscih (product, legal & HR) and Anton Kittelberger (COO), together with the Viennese lawyer Wolfgang Renner.
The deal permits mySugr to remain a separate company and further expand at the location Vienna. Thus, mySugr will not be integrated into Roche’s corporate structures, but instead remain an autonomous brand and subsidiary. In the next two years, the team is projected to expand from currently 47 to 200 employees. Furthermore, no restructuring measures are supposed to be undertaken due to the deal.
At the moment, there is a lot of movement in the market of digital solutions for diabetics. Just a few days ago, investors poured $35 million in the startup Glooko, which offers a data platform for diabetics and doctors. In total, venture capitalists already invested $71 million in Glooko.
The mySugr app serves as daily log or diary for diabetics. © mySugrmySugr sees big potential in building a comprehensive service environment for diabetics. In cooperation with insurances, packages comprising glucometers, access to the app and measure strips for blood glucose shall be sold globally. On the German market, this service is already available for an annual price of 1,000 Euro. The growth opportunities look promising: Worlwide, approximately 400 million people currently suffer from diabetes. In Austria, an estimated 600,000 people are affected. It is also planned to connect the emrh fitness tracker and other medical devices with the app.
For rolling out the service globally, financial stability is needed – something that mySugr achieved thanks to the exit. The idea is to invest the fresh capital mainly into research and product development. „Thanks to the expertise and the global network of Roche, mySugr will become an indispensable companion for an easier life with diabetes,“ says Frank Westermann, CEO and co-founder of mySugr.
Back in March 2015, it was a Roche venture fund that invested another €4.2 million into the startup, together with the already invested XLHealth and iSeedVentures (Trending Topics reported).
Since the parties have agreed to keep the purchase prices confidential, we can only speculate about the price tag. Industry insiders suggest it to be around the size of Runtastic (€220 million) and Shpock (approx. €200 million), but definitely below €200 million. Other sources estimate a sales prices of €70-80 million.
By comparison, Runtastic was bought by Adidas in August 2015 for €220 million and had 70 million registered user at the time (Trending Topics reported). Just a month later, in September 2015, the Norwegian media corporation Schibsted bought 91 percent of the fleamarket app Shpock – they were serving ten million users at the time (Trending Topics reported). mySugr claims to have currently one million users.
The four founders Fredrik Debonk, Gerald Stangl, Michael Forisch and Frank Westermann owned just before the deal 45 percent of the company, business angel Hansi Hansmann 15.5 percent and the US venture capital fund iSeed 12 percent. Mediclass founder Christoph Sauermann (0.6 percent) and the family Püspök (4 percent) also get a cut from the successful exit.
Speedinvest is not only the the biggest VC fund ever raised in Austria, but proposes a new take on early stage venture that challenges a lot of traditional assumptions how VC works.
Speedinvest differs in many ways from comparable funds in Europe.
First of all, the capital is provided by more than 100 entrepreneurs and private investors, rather than a few institutional investors. The list of backers behind Speedinvest is impressive, ranging from Dietrich Mateschitz, Red Bulls iconic founder to Herman Hauser, or the latest generation of successful founders of startups such as Runtastic, Shpock or Busuu. This is in stark contrast to the typical European fund where often more than 50% comes from taxpayers. What does this mean for startups? The majority of Speedinvest’s investors actively co-invests and in some cases collaborates with selected portfolio companies.
In May the fund also announced its collaboration with New Enterprise Associates (NEA), the world’s largest venture fund by assets under management. NEA invested 5M USD in Speedinvest 2 and reserved 50M USD to drive global growth in Speedinvest’s portfolio of top EU startups.
So what is this new take on venture that attracts such attention?
To start with, Speedinvest is run by a total of 12 partners, 3-4 times the size of the teams that operate similar sized funds. These partners spend most of their time in full-scale operational roles for 1-2 portfolio startups each, typically executing business and corporate development functions in the US or Europe, thereby extending the resources of a given startup team by senior people, network and experience that an average seed stage company simply could not afford. If all goes well, the fund earns additional equity points with the contributions coming from these partners, at minimum founders and investors work side by side for given time, completely changing the dynamics of such relationship.
How does this work for the GP’s, given that Speedinvest charges industry standard fees? Very similar to startups! In stark contract to their well paid collegues, SI Partners receive salaries similar in size as the founders that they invest in. But, in turn, they particiate directly in the funds returns, with a portion of every exit’s proceeds going also in their pockets.
This entrepreneurial model has proven to be very successful in the first fund, with Shpock as its biggest success so far, four further exits and companies such as Hitbox, Holvi, Wikifolio, Flaviar or Tourradar that are on to great things.
Oliver Holle, CEO of Speedinvest comments “The feedback from investors was overwhelmingly positive, confirming the appetite for innovation also in our field. Venture investing is undergoing massive change and we intend to play an integral part in Europe newly emerging VC landscape.”
With the inception of its new fund the team is now sourcing startups from all over Europe, with a strong focus on the CEE region. It will stick to its core strength: as a lead investor at seed-stage with tickets up to 500k. Beyond that, it has reserved roughly half the fund for follow on investments in its own portflio.
The new fund has three core sector focuses: Fintech, Deep Tech and Consumer.
The Deep Tech segment caters specifically to tech founders in Europe that need to bring their world class IP early on to US customers and partners. Given Speedinvest’s operational support model and its team in Silicon Valley, Speedinvest is perfectly positioned to help them.
In fintech, Speedinvest has further strenthened its portfolio under the lead of industry expert Stefan Klestil (board member in Wirecard, Holvi, Number26 or IyziCo, to name just a few) with investments in Curve (http://www.imaginecurve.com/), a London-based smartcard aggregator, and Investly (https://investly.co), an Estonian e-factoring platform.
Since the first closing of the fund earlier this year Speedinvest has already invested in 14 across all of Europe. Building on the skills of eastern European tech talent the fund invested in Hungarian Slush winner Enbritely (https://enbrite.ly), an ad-fraud detection startup and Sofia-based Metrilo (www.metrilo.com), a solution for SME eCommerce entrepreneurs.
To identify the most promising founders very early, Speedinvest has has built a strategic partnership with Pioneers Ventures (pioneers.io/ventures), a pre-seed fund investing 20 to 100K in Europe’s best, nascent companies.
Launched by Ventureptreneur François Derbaix - Indexa Capital is the first Spanish online wealth management service, backed with €1M
Robo-advisors, also known as online wealth management services, are on the rise. The combination of low interest rates, high commissions from banks and low returns from other investment vehicles, means fertile territory for fintech startups willing to manage -and increase- people’s savings through technology.
US-based Wealthfront was one of the first startups to disrupt the sector. The company has raised more than $129 million from multiple VCs and currently has $2 billion in assets under management.
Spain lacked a service of such characteristics, with the only example being London-based ETFmatic, co-founded by the Spaniard Luis Rivera.
Led by Unai Ansejo Barra, François Derbaix and Ramón Blanco, Indexa Capital is now joining the field, with an initial investment of more than €1 million from Cabiedes & Partners, Fides Capital, Viriditas Ventures (Yago Arbelos), Derbaix, his wife Marta Esteve (Soysuper, Rental) and Álvaro Ortiz.
The Madrid startup is launching today, promising better returns for investors willing to give the company at least €10,000. Derbaix and Ansejo had previously founded Bewa7er, a secondary market for company’s shares that was put on hold weeks after its launch.
Indexa Capital, Wealthfront and similar companies in the sector enable clients to invest their money on a monthly basis in a diversified portfolio of index funds. The service competes with traditional investment services offered by banks, but promises much lower commissions (0.79% annually vs. 3.40% at banks, according to Indexa), automated processes, better returns and more transparency. Indexa says that it expects to offer its clients annual returns 3.1% higher than banks.
To know more about ETFs and index funds, read this article from Samuel Gil, where he explains the great opportunity for automated wealth management services. “Robo-Advisors”, he says, “pretend to offer a fully only service as good (or better) than the one provided by traditional advisors, at a much lower cost and with smaller investment requirements. Good, pretty and cheap. And for the masses”. Derbaix has also written about the project here.
The Shpock team and Schibsted Classifieds Media has agreed that Schibsted is taking over control and increases its shares to 91% in the flea market app.
As part of the deal the valuation will not be disclosed. The agreement enables the startup to turn Shpock into a global brand and continue its growth outside the current core markets Germany, UK and Austria. Founders and key team members stay on board and will drive the development in the upcoming years.
Until today more than 10 million users are discovering, selling and buying over 2.5 billion Euros worth of items via Shpock. Shortly before Shpock’s 3rd birthday, Schibsted Classifieds Media announces to increase its stake to 91% in the finderly GmbH, which runs the popular app.
“This deal allows us to conquer new frontiers and to become the go-to-marketplace solution for the smartphone generation worldwide,” say Shpock founders and CEOs Armin Strbac and Katharina Klausberger.
The Austrian app maker, which was initially founded in 2010, launched Shpock - SHop in your POCKet - in September 2012 as the ‘flea market app for beautiful things’. Although Shpock started as a side project, the app quickly became the main focus of the company and the team.
“In early 2013 we had very limited resources and it was necessary to decide for one product to not lose focus. The team made a clear choice: Shpock!” says Klausberger.
Strbac remembers the tough times: “The team was fully committed to the vision of Shpock, but the financial situation of the company was not clear for some time. Seeing the few people, who were present at this time, stick together and work against the odds is one of my best life memories.”
Supported by Business Angel Johann “Hansi” Hansmann, Angelfund Speedinvest and subsidies from the Austria Wirtschaftsservice and Inits, the team was able to continue working on Shpock. The traction in the first months triggered the attention of several A-round investors, Schibsted being one of them. Schibsted joined Shpock in summer 2013 as strategic partner and now, two years later, increased its stake to 91 percent.
When it comes to explain the mutual benefits of the partnership, Klausberger states:
“We have a partner on our side that knows the classifieds business like no other! On the other hand, we bring our mobile experience and an extremely talented and hungry team into the game.”
“It may sound cheesy, but that’s the truth! Looking at the app there are a 100 things that give us an advantage compared to others, but the main reason for our success is the team behind the app,” says Strbac. Today, the Shpock crew consists of more than 45 people, with 14 different nationalities, operating from the city center of Vienna. With this deal at hand the team will grow further soon.
Source: Schibsted press release
CouchCommerce, backed by Venturepreneurs is now part of NewStore - Stephan Schambach's latest e-commerce venture
NewStore, Inc. establishes the definitive Mobile Retail Platform. As the future of retail shifts to mobile, brands struggle to maintain a profitable omnichannel presence. NewStore solves this issue by introducing a groundbreaking, high-conversion mobile commerce solution that unifies offline and online buying experiences. The company was founded by Stephan Schambach, an early ecommerce pioneer and founder of Demandware and Intershop. Including investments from Schambach and the NewStore management team, NewStore has raised $38 million, with General Catalyst Partners as the lead investor.Brick-and-mortar retailers and brands face fundamental challenges as the rapidly growing mobile commerce market evolves: (1) Mobile conversion is only a fourth of desktop web browsing, (2) online and offline commerce are still fundamentally at odds, (3) Amazon has a virtual monopoly on convenience, and (4) mobile offers new forms of engagement that retailers have yet to leverage. Rather than retrofit legacy systems to address these issues, NewStore has built a commerce platform from the ground up, focused on mobile first.
The NewStore Mobile Retail Platform creates a cloud- and mobile-based innovation layer that elegantly integrates stores' existing ecommerce platforms such as Demandware, as well as ERP systems, without requiring major retooling at the backend. NewStore helps brands create closer, more profitable relationships with consumers through its platform that allows brands to provide unrivaled mobile convenience, foster deep consumer engagement, and boost sales.
“Retailers have seen an increase in mobile traffic, yet conversion rates remain low. This means mobile has untapped potential for retailers, and that’s where NewStore comes in,” said Stephan Schambach, Founder and CEO, NewStore. “As a serial entrepreneur who has capitalized on the major turning points in ecommerce, it’s clear to me that mobile represents the next major inflection point. What’s more, mobile is the only way to truly master omnichannel. The combination of mobile and omnichannel into a single, powerful, and customizable retail platform will shatter expectations for mobile commerce, making mobile shopping apps more popular than traditional ecommerce websites.”
LLX Global Business Services SA, part of JAB Holding S.a.r.l. and provider of business services to JAB brands Jimmy Choo, Bally, and Belstaff, is the first NewStore customer. “As part of larger efforts to enhance the consumer experience, we’re adopting the NewStore ‘mobile-first’ approach,” said Mark West, CEO of LLX Global Business Services SA “The NewStore Mobile Retail Platform helps us focus on accelerating revenue growth through brand desirability and unparalleled consumer convenience. It addresses the most substantial issue facing luxury retailers today: meeting the needs of demanding mobile consumers.”
Mobile consumers expect the ability to purchase anything, anywhere and at any time. NewStore is helping brands get their apps into the consumer’s pocket and break the boundaries of offline and online. By transforming today’s linear commerce experience, the NewStore platform reimagines the buyer’s journey as borderless, in which personalized, instant gratification is possible with one single touch.
“Looking at the NewStore model and its Mobile Retail Platform, there is no direct competition in the market. There are piece-players making attempts to address the mobile paradigm shift for retail, but no one has yet tied it all together as Stephan has done with NewStore,” said Larry Bohn, General Partner at General Catalyst Partners and Board Member, NewStore. “We’ve worked closely with Stephan as he brought his vision to life at Demandware, and from our unique vantage point, he is ready to reinvent an industry once again with NewStore.”
“The share of purchases initiated or influenced by mobile devices is growing in tandem with skyrocketing usage. Yet, the majority of mobile browsers fail to convert on the spot, due to a dearth of seamless mobile checkout solutions,” said Scott Galloway, Founder and Chairman, L2 and Board Member, NewStore. “NewStore eases the last part of that shopping journey and unifies it with the rest, fostering brand engagement and loyalty.”
Join Stephan Schambach for a webinar on October 27 where he will share how to future proof your brand against disrupting retail trends. Register here. Meet Schambach at the Shop.org conference – NewStore will be in booth #863.
NewStore provides the only mobile retail platform that boosts conversion, promotes engagement, unifies online and offline, and modernizes fulfillment. Working as a Demandware Link Partner and in conjunction with existing ecommerce platforms, NewStore allows brands to deliver a mobile-first retail experience designed around how consumers want to buy today — anywhere, anytime, with single touch simplicity. Founded by Stephan Schambach, creator of Intershop and Demandware, NewStore is headquartered in Boston. For more information, visit www.newstore.com.
Runtastic has been acquired by sportswear brand adidas Group. The deal values Runtastic at €220 million.
The European app maker, which was founded in Austria back in 2009, has more than 20 fitness, health and endurance apps to its name, and also plays in the hardware space with wearables and other fitness monitors. Runtastic’s apps have garnered more than 140 million downloads in total, with around 70 million registered users at the point of acquisition.
The largest shareholder in Runtastic was German media giant Axel Springer, via its investment subsidiary Axel Springer Digital Ventures — which owned 50.1 percent of the company, so gets the biggest payout here. Other main shareholders were Austrian business angel (and Venturepreneur) Dr Johann "Hansi" Hansmann and company founders Florian Gschwandtner, Alfred Luger, René Giretzlehner and Christian Kaar — who will all be continuing to run Runtastic within the adidas Group.
Gschwandtner said Runtastic will remain its “own entity” within the adidas Group, and will continue to operate from its current offices in Linz, Austria, Vienna and San Francisco. He also pledged “more ideas, products and optimizations” are in the pipeline, backed by the resources of its new parent.
“Both companies firmly believe that together we can build a unique product portfolio and unparalleled customer journey for our existing community members and future users,” he wrote.
“We will continue deliver further optimizations, unique content and a highly-anticipated new app by the end of the year,” he added.
adidas Group CEO Herbert Hainer said the acquisition is about bagging 70 million customers to cross-sell its other fitness products — commenting in a statement that it’s looking to grow “a highly engaged athlete user base and leverage the power of our broad product portfolio.”
Austrian venture capital firm SpeedInvest, managed by Venturepreneur Oliver Holle, has launched its second fund - SpeedInvest II, targeting €50m. The fund has been launched in partnership with start-up platform Pioneers (Pioneers Festival) and Venturepreneur/Business Angel Johann "Hansi" Hansmann.
We have learned that the first close of SpeedInvest II was planned for the end of 2014 and the final close by the end of 2015.
Besides financing, SpeedInvest II will take advantage of the potential synergies between the entrepreneurs from Pioneers and individual start-ups in order to accelerate their growth.
The good news is that the new vehicle has already received first commitment of approximately 20% of the fund from a regional bank. As far as the fundraising process is concerned, in order to access the fund, private investors will have to put a minimum of €300k, while institutional investors will be asked to commit at least €1m.
SpeedInvest II will focus on investing in German-speaking countries and the Eastern European ones, where the fund is planning to allocate approx. two thirds of available funds. The rest will be distributed among the remaining European countries. Regarding sector focus, Speedinvest II will be looking for companies in digital space field, mainly Fin-tech and IP-driven start-ups centered on engineering.
Veeseo fOunded by venturepreneur Jan Andresen was acquired by Gruner + Jahr’s performance marketer - Ligatus
In April 2014 the Ligatus GmbH, belonging to Gruner + Jahr assumed 100 percent of veeseo GmbH and secured a pole position to sustainably benefit from the online marketing field Content Recommendations. By using the veeseo recommendation technology in the high-reach Ligatus premium network with more than 1,100 publishers across Europe, the two companies together form the largest supplier of Content Recommendations in Europe.
The acquisition pursues Ligatus' strategic objective to enable publishers and marketers with intelligent technologies for an optimum monetization of websites. The development of the growth area of Content Recommendation pays on G+J's digital strategy, of which an integral part is to sustainably strengthen the digital advertising unit at G+J to which Ligatus contributes significantly.
Ligatus and veeseo already work together exclusively and successfully since the end of 2013. Besides important publishers in the German market, Austria, Switzerland, the Netherlands and France have already been convinced of the Content Recommendation business model. Other countries will follow shortly. Premium publishers like SPIEGEL ONLINE, DIE WELT Online, RTL Online are already using the recommendation system.
The business model standing behind the Content Recommendations is attractive for both, publishers and their marketers: The high-quality article and video recommendations generate high click-through rates on the internal Publisher recommendations and thus increase the page views and time users spend on the website. This increased traffic in return generates additional marketable reach for the core business of the marketer and can also be targeted to the best sections to be marketed, such as moving image environments. Furthermore, the publishers will benefit from direct advertising revenues through ad sales within the Content Recommendation boxes, where they can display and optimize image-text-advertisements by using the performance technology of Ligatus and place content marketing in order to participate in this fast growing market segment. More and more advertisers take advantage of this opportunity to context-sensitive communication, wherefore the quality Ligatus network ensures the necessary context relevance.
The veeseo GmbH will continue to operate as an independent company with the two directors Jan Andresen und Steven Hofman at the company headquarter in Hamburg. Structurally, the company is integrated in Ligatus under the leadership of Klaus Ludemann.
Klaus Ludemann, speaker of the management Ligatus GmbH: "Through the acquisition, we can use the synergies between Ligatus and veeseo to an even greater extent than before and we have the ideal conditions for a sustainable development of the Content Recommendation potential. At the same time Ligatus can significantly strengthen its competitive position in the field of special advertising space in the editorial environment. To connect the veeseo technology with our premium reach and our access to international markets enables us to create unique competitive advantages, which will be reflected in a higher monetization for publishers. Amongst others, the semantics recognition of veeseo will be used in future in the context of Ligatus' optimization technology to enable an even more targeted advertising placement. And last but not least, with the acquisition of veeseo we are expanding our position as one of Europe's leading performance marketers consistently."
Jan Andresen, CEO veeseo GmbH: "The established structures of Ligatus give veeseo access to an international publisher network and customer relationships throughout Europe. By the interaction of our technologies, valuable synergy effects will be achieved and thus new standards in the Content Recommendations field will be set, so that we can achieve above-average growth in the coming years. At the same time, the market position of Ligatus offers the ideal conditions for an international scaling of the veeseo business model, that is: we can roll out our technology in a timely manner in the major European markets."
Arne Wolter, Deputy Chief Sales Officer and Deputy Chief Digital Officer at G+J: "Digital marketing is a key strategic growth area for G+J. With the acquisition of veeseo G+J enters the highly attractive segment of Content Recommendations which means additional national and international growth opportunities, while at the same time increasing the viability and value of Ligatus as an important part of the digital advertising unit at G+J. With its unique Content Recommendations technology, its quality and the resulting revenue potential veeseo fits well with G+J's digital strategy."
Source: Gruner + Jahr's press release
AUSTRIAN DURCHBLICKER.AT BACKED BY VENTUREpRENEUR JOHANN ‘HANSI’ HANSMANN sells 45% of shares to NYSE-LISTED WHITE MOUNTAINS INSURANCE GROUP
New York Stock Exchange-listed White Mountains Insurance Group acquired approximately 45 percent of durchblicker.at, Austria's independent price comparison portal for insurance, gas/electricity and finance services.
Since 2010, the website offers comparison of insurance rates, electricity and gas, as well as traditional financial products such as savings. With around 2 million compared rates calculated in the first half of 2014 for a total of 18 product categories, durchblicker.at is the leading portal in comparison of rates in Austria.
The management team of the company - two founders Reinhold Baudisch and Michael Doberer together with the Venturepreneur and Austrian renowned business angel Johann “Hansi” Hansmann continue to hold a majority stake.
The terms of the transaction were not disclosed.
ACTIVE Venture Partners Strengthens its Game-Changing Strategy with the Appointment of Two Key Team Members
ACTIVE Venture Partners has announced the appointment of two new team members with strong entrepreneurial and venture capital experience. ACTIVE has doubled its team from 5 to 10 team members in the last three years and is one of Europe’s fastest-growing venture capital firms. Sebastian Blum joins as Partner coming from previous senior roles in Silicon Valley’s mobile technology and VC market while Georg Stockinger takes up his role as Venture Advisor bringing large-scale digital business expertise to the firm. Common to both is a strong commitment to extending ACTIVE’s game-changing approach based on active value building and operational support for its portfolio companies which is setting the company apart from traditional venture capital fund managers.
Building on its success in the mobile startup community, ACTIVE has appointed Sebastian Blum from his previous position as VP of Business Development at California-based photo viewing app developer Cooliris, where he was responsible for corporate & business development and partnerships with special focus on Asia. Previously he was in senior positions at T-Venture, the VC arm of Deutsche Telekom, and most recently as the Managing Director of its San Francisco office where he drove investments in mobile start-ups throughout Europe and the US. Sebastian will expand ACTIVE's representation in Berlin and other German speaking startup hubs.
“There had to be a compelling reason for me to return from the US to Europe, and I found it in ACTIVE,” said Sebastian Blum. “This is such an exciting opportunity; to work with a phenomenal and passionate team of entrepreneurially-minded professionals dedicated to helping other entrepreneurs succeed. I fully embrace the enlightened, fresh and disruptive approach that ACTIVE brings to venture capital in Europe, with a true focus on the people inside startups supporting them to realize their ambitions."
Georg Stockinger brings experience in helping large-scale digital businesses in Europe and Latin America to grow their operations and internationalization efforts. He was Managing Director at Rocket Internet LatAm, which has helped to launch and support companies such as Groupon, eDarling and Zalando. Previously, he gained experience in management consulting with McKinsey & Company and was part of the founding team of the German e-commerce start-up Casacanda, which was successfully exited. Georg has collected significant investment experience by being active as a private investor in digital businesses based in Germany, Spain, the UK, México and Colombia.
Commenting on his new role at ACTIVE, Georg Stockinger, said: “ACTIVE has strongly held values relating to the long-term development of people and naturally diverse teams, and I share these. It is offering much more to its portfolio companies than simply capital and to enable this, it employs experts who can advise on a wide range of skills from marketing and strategy through to internationalization and operational excellence. We are developing a unique support platform and my role is to ensure it is successfully used across our portfolio.”
Like all team members at ACTIVE, both Sebastian Blum and Georg Stockinger bring many additional skills to their roles. They both have international business experience and networks and speak a variety of different languages.
“Sebastian and Georg add immensely to the rich diversity of the ACTIVE team that is now composed of 7 nationalities and speaks 10 languages,” said Christopher Pommerening, Founding Partner at ACTIVE Venture Partners. “They are committed to helping us to challenge and change our traditional sector through our new approach to venture capital. They bring their experience and networks from the US, Latin America and Asia to our portfolio entrepreneurs and can add great value through their operational start-up expertise. Sebastian and Georg will greatly enhance our support and partnership with the entrepreneurial teams that work with us.”
About Active Venture Partners
ACTIVE is a European venture capital company focused on positively disrupting its traditional sector. Spearheaded by a diverse, passionate and multinational team, it is building a reputation for providing support that goes beyond capital for high growth businesses. With a presence in Spain, Germany and Scandinavia, ACTIVE targets entrepreneurial teams driving digital start-ups and seeking holistic partnerships based on shared values and pro-active support. Start-up founders connect to the unique ACTIVE community to engage with sector specialists, growth experts and senior advisors. Since 2004 ACTIVE has invested in 23 companies in two funds totalling €74m. In 2007, ACTIVE created the Venturepreneurs’ Organisation, which promotes relationships between successful serial entrepreneurs investing in early stage companies.
For more info, please visit www.active-vp.com