300422 Guangxi Bossco Environmental Protection Technology (A)

DGAP-News: European Investment Fund Commits €15M to Inovo Venture Partners' New €40M Fund

DGAP-News: Inovo Venture Partners / Key word(s): Funds
European Investment Fund Commits €15M to Inovo Venture Partners' New €40M Fund (news with additional features)

24.04.2020 / 16:30
The issuer is solely responsible for the content of this announcement.


European Investment Fund Commits €15M to Inovo Venture Partners' New €40M Fund

WARSAW, POLAND / ACCESSWIRE / April 24, 2020 / , a venture capital firm focused on Central and Eastern Europe investments, has announced its second fund with backing from the European Investment Fund (EIF) among others. The PLN 170 million (€40M) fund will see the EIF commit PLN 64 million (€15M) to support a string of technology companies throughout the region and to accelerate European startups.

Established in 1994, the finances SMEs through private banks and funds. In the past three years, it has invested in several VC funds focused on Poland and CEE, with its €15M stake in Inovo Venture Partners' latest fund marking its fifth such investment.

Inovo Venture Partners specializes in identifying disruptive tech startups and bootstrapping their development through participation in late seed and Series A rounds. The new fund will see six deals tied up in 2020, with a total of 20 companies on a course to secure investment over the next three years including Tidio, Infermedica, and Eyerim.

This year, the fund completed its first investment into Allset's round B together with the likes of EBRD and Andreessen Horowitz. The fund is actively looking for opportunities, despite the corona epidemic, as its partners believe tech companies can gain an additional boost from current changes in many markets. Inovo's investment team believes the current crisis will result in many outstanding tech companies being built.

Inovo Venture Partners' first fund supported companies such as Booksy and Restaumatic, as well as Brand24 and ECC Games, who are listed on the Warsaw Stock Exchange. In total, 15 companies were beneficiaries of Inovo's maiden fund, of whom five have since been sold profitably, two have IPO'd, and three remain active.

The Polish VC firm aims to identify and nurture outstanding tech companies, with notable successes including Booksy, whose valuation multiplied 10x to €100M+ under Inovo's stewardship. Inovo Venture Partners LP Stefan Batorv remains CEO of Booksy, which has been transformed into one of the world's top 100 marketplaces with 7 million users and $28M secured in its last funding round.

"We are convinced that over the next 10 years, at least 10 unicorns will be created in Central and Eastern Europe. Most of them will come from Poland. Every year we see a few companies that can follow the path of Booksy or Docplanner. However, even the best ones find it difficult to raise several million dollars in the investment round locally. This is too much for local funds, and often too little for funds from London, Berlin or the USA. This is where we see space for our fund. - says Tomasz Swieboda, Partner at Inovo.

In 2019, Poland's burgeoning tech industry recorded 8x YoY growth, with 85 international and local VC funds participating in over 260 financing rounds, resulting in PLN 1.27B (€294M) being invested in startups. In the first quarter of 2020, Polish VCs committed to deals worth 353M PLN (€78M), with the bulk of these involving foreign investors. This is an increase of around threefold in the same period in 2019.

With the launch of its second fund, Inovo Venture Partners is aiming to cement its reputation as one of the leading Series A investors in the CEE region, while helping enterprising startups realize their potential, paving the way for later-stage funding from international VCs.

Contact Info:

Itai Elizur, Inbound Junction

SOURCE: Inovo Venture Partners


Additional features:

Document:
Document title: European Investment Fund Commits €15M to Inovo Venture Partners' New €40M Fund


24.04.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at


1029725  24.04.2020 

fncls.ssp?fn=show_t_gif&application_id=1029725&application_name=news&site_id=research_pool
EN
24/04/2020

Underlying

300422Guangxi Bossco Environmental Protection Technology (A)

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on Guangxi Bossco Environmental Protection Technology (A)

 PRESS RELEASE

Sunrise récompensée une nouvelle fois pour le meilleur service clients

Sunrise UPC GmbH / Mot-clé(s) : Autres Sunrise récompensée une nouvelle fois pour le meilleur service clients 31.08.2022 / 10:00 CET/CEST Sunrise remporte le test connect de la hotline du réseau fixe 2022. Sunrise établit à plusieurs reprises de nouvelles références en Suisse et dans la région DACH: Meilleur service clients pour le réseau fixe et haut débit (connect numéro 10/2022) Meilleur service clients pour la téléphonie mobile (connect numéro 5/2022) C’est le seul opérateur à remporter le test dans les deux domaines (téléphonie mobile, réseau fixe et haut débit)...

 PRESS RELEASE

Sunrise premiata di nuovo per il miglior servizio di assistenza client...

Sunrise UPC GmbH / Parola (s): Altro Sunrise premiata di nuovo per il miglior servizio di assistenza clienti 31.08.2022 / 10:00 CET/CEST Sunrise vince il test di connect 2022 dedicato al numero di assistenza per la rete fissa. Sunrise definisce nuovi standard in Svizzera e nella regione D-A-CH in diversi ambiti: miglior servizio di assistenza clienti per la rete fissa e la banda larga (connect numero 10/2022); miglior servizio di assistenza clienti per la telefonia mobile (connect numero 5/2022); unico operatore a vincere il test in entrambi i settore (telefonia mobi...

 PRESS RELEASE

Sunrise erneut für besten Kundendienst ausgezeichnet

Sunrise UPC GmbH / Schlagwort(e): Sonstiges Sunrise erneut für besten Kundendienst ausgezeichnet 31.08.2022 / 10:00 CET/CEST Sunrise gewinnt den connect Festnetz-Hotline-Test 2022. Sunrise setzt in der Schweiz und der DACH-Region gleich mehrfach neue Massstäbe: Bester Kundendienst für Festnetz und Breitband (connect Heft 10/2022) Bester Kundendienst für Mobilfunk (connect Heft 5/2022) Einziger Anbieter mit Testsieg in beiden Bereichen (Mobilfunk, Festnetz und Breitband) mit jeweils höchster Punktzahl über die 3 Länder hinweg «Schnelle Problemanalyse gepaart mit hoh...

 PRESS RELEASE

Sunrise wins award for best customer service once again

Sunrise UPC GmbH / Key word(s): Miscellaneous Sunrise wins award for best customer service once again 31.08.2022 / 10:00 CET/CEST Sunrise wins connect magazine’s landline hotline test 2022. Sunrise sets multiple new standards in Switzerland and the DACH region: Best customer service for landline and broadband (connect issue 10/2022) Best customer service for mobile (connect issue 5/2022) The only provider to win tests in both areas (mobile and landline/broadband) with the highest scores across the three countries. According to connect magazine, «rapid analysis of ...

 PRESS RELEASE

OPPO Explores New Technology Breakthroughs with Developers and Partner...

Oppo OPPO Explores New Technology Breakthroughs with Developers and Partners at OPPO Developer Conference 2022 31-Aug-2022 / 07:25 CET/CEST  OPPO Explores New Technology Breakthroughs with Developers and Partners at OPPO Developer Conference 2022   SHENZHEN, CHINA - - 31 August 2022 - OPPO kicked off its 2022 OPPO Developer Conference (ODC 2022) today, unveiling its Pantanal cross-platform smart system, OPPO Carlink solution for enhanced smartphone-car integration, and the OPPO Sense® health algorithm along with an RMB 2 billion plan to support developers and creators working with...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch