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MCI Newsletter #1/19
 
  Welcome to 2019 – a year where digital transformation will play an ever growing part in the economy.

Thank you for being with us, and following the events at MCI.

With this edition of our Newsletter, we will try not only to bring you latest events of Q4’18, but also pick up the most important milestones of the last year.

Let’s start!

 
2018
EUR 162 M EUR 162 M
exits value
35%

portfolio assets
turnover ratio

USD 2.2 B USD 2.2 B
transaction value
- fintech unicorn iZettle
sold to PayPal



EUR 500 M EUR 500 M
plans for
new commitment
buyout fund


 
Q4
EUR 74 M (PLN 315 MLN)
Enterprise Value Closing
of the Dotpay/eCard sale
icons
51%

finalization of
the purchase
of shares of IAI

ALSO

start of the exit
process of ABC Data
- ALSO being
the potential buyer



28th market

Azimo starts
operations in Poland,
as its 28th market


 
RECORD EXITS & DIVIDENDS:
Pobierz grafikę, aby zobaczyć całą treść wiadomości MCI funds announced three large exits from the investments in 2018: Dotpay / eCard, iZettle and lifebrain, thanks to which they obtained a total of PLN 577.6 M (around EUR 135 M). In addition, two exits from the VC portfolio companies were reported: zdrowegeny.pl and Genomed.

The level of dividends paid out by portfolio companies was also record last year round. The Funds raised PLN 76.8 M from the dividends paid (generated by: ATM - PLN 51.8 M, ABC Data - PLN 17.5 M, and Index - PLN 7.5 M).

Exits and dividends in general amounted to nearly PLN 700 M (EUR 162 M).
  Read more →


FIRST FINTECH UNICORN SOLD
BY POLISH INVESTMENT FUND
 
The value of the transaction placed the acquisition of iZettle by PayPal among the 10 largest exits of technology companies co-financed by VC/PE funds. The valuation of the company stood at USD 2.2 B. Our fund was one of the investors in the company since 2015, together with such global VC/PE brands as Index Ventures, Intel Capital, 83 North, Northzone or Creandum.

Video interview with Maciej Bogaczyk Coverage in Business Insider
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NEW BUYOUT FUND
WITH EUR 500 M ON THE WAY
 
We are actively working on establishment of New Buyout/Private Equity Fund. The New Fund will consist of large institutional investors, in a major part with headquarters outside of Poland. The strategy of the New Fund will be based on investments in the CEE, in mature companies, with significant preference towards innovative fields of economy or ready to undergo a digital transformation.

Read more →

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DOTPATY/ECARD
SALE CLOSING

Nets, a market leader in the payments industry, completed the acquisition of leading Polish online payment service provider Dotpay/eCard. This was a very successful investment for MCI, generating 3.0x CoC and almost 40% IRR over a 3-year investment period.

Read more →



ABC DATA EXIT
PROCESS HAS STARTED

The balance of power on the Polish distribution market may change soon. Swiss potentate ALSO Holding aims mark its presence on the IT distribution market in Poland. Purchasing ABC Data makes it a step closer to achieving this goal. Read more →

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MCI GETS 51% SHARES IN IAI
 
MCI closed the deal with IAI SA in December 2018 and now possesses 51% of shares of this Polish market leader, offering e-commerce and e-travel software in a SaaS model. Acquisition of IAI S.A. fits perfectly into the strategy of MCI.EuroVentures, a buyout fund focused on investments in mature enterprises in the area of the digital economy in CEE.

Read more →



AZIMO IN POLAND

Poles living abroad send home the equivalent of almost $7 billion a year, so it is not surprising Polish emigrants have been an attractive target for money transfer companies for a long time. Now customers based in Poland have possibility to send their money to 190 countries and territories around the world using various delivery methods, digital and at low costs.

Read more →
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MORELE & PIGU – NEW HOLDING
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Substantial step for another MCI.TechVentures fund portfolio companies has been made recently - Morele and Pigu will be part of the newly formed holding company. Both companies are leaders in the e-commerce markets in their home countries - Morele in Poland in the electronics segment, Pigu in the Baltic countries. Holding has already raised PLN 56 million of financing for further development.

Read more →

DIGITAL SHAPERS 2018 AWARDS

Tomasz Czechowicz titled as one of the most influential drivers of Polish digital economy growth.

Read more →
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Disclaimer:
Assets under management refer to assets of close-end investment funds created and administrated by MCI Capital TFI (the Funds). Investments portfolios of the Funds are managed by Private Equity Managers Sp. z o.o. - being a part of Private Equity Manages S.A. Capital Group. MCI Capital is a main investor in the Funds.

 

This presentation has been prepared with due diligence. However, it may contain certain inaccuracies or omissions. This presentation cannot be regarded as a comprehensive financial analysis of the PEM S.A. Capital Group, MCI Capital S.A. or MCI Capital TFI nor does it provide a complete view of its financial position and future prospects. Any person who intends to make an investment decision should first consider the information disclosed in the official financial statements and current reports prepared and published in accordance with applicable laws. This presentation has been prepared for information purposes only and does not constitute an offer to buy or sell any financial instrument.

 

This presentation may contain projections, but these cannot be treated as a reliable indicator of future performance mentioned before capital groups. Statements regarding future and historical financial results do not guarantee that such results will be achieved in the future. Expectations are based on current knowledge and depend on a number of factors and variables that may cause significant differences between the results presented in this document and those actually achieved.

 

The capital groups, the management board members and directors will not be responsible for any consequences that may arise from the use of this presentation. None of the information contained in this presentation represents a commitment or representation on the part of capital groups., its management board members or directors. There is no obligation to publish corrections or update the forward-looking statements contained in this presentation to reflect changes occurring after the date of this presentation.

 

The presented information on the Funds is not and cannot be treated as an offer to purchase investment certificates, nor to propose to subscribe for investment certificates, nor do they constitute an offer within the meaning of art. 66 of the Civil Code. The issuance of investment certificates of the Funds will take place only through the proposals to subscribe for investment certificates addressed to less than 150 personally indicated persons. The conditions for the issue of investment certificates and the Funds' articles of association are the sole source of information about the offer of investment certificates, the Funds, its investment policy and risk factors related to investing in investment certificates. The content of these documents will be made available to persons to whom the proposal to acquire investment certificates will be addressed. This material is for promotional purposes only and does not constitute an offer or recommendation to conclude a transaction to buy or sell any financial instrument. The information provided cannot be treated as an investment advisory or other advisory service, including the provision of legal assistance.