Internet Ventures FIZ, a fund managed by PEManagers Group, exited its investment in Feedo. The company was taken over by a German industry giant, windeln.de. Internet Ventures FIZ has generated a record-breaking rate of return on that investment.
“Having sold Feedo merely a year after we had invested in them, we generated a record-breaking IRR, more than 500 percent”, said Tomasz Danis, Fund Manager at Internet Ventures FIZ.
Feedo is an online store with goods for children opened by two Slovaks.
“We convinced them by showing the ‘smart money’. We intended to provide funding for the project for many years. We soon automated the internal processes and built a team of managers there. Developing the Czech and Slovak markets, we also expanded to Poland”, said Tomasz Danis.
The Feedo exit is one of many divestment projects that PEManagers Group funds are working on. New investments will be equally dynamic – the investment liquidity of the funds managed by PEManagers exceeds PLN 260 million.
The article was published in Puls Biznesu on 12 May 2015.