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SGT German Private Equity GmbH & Co. KGaA
Report Publication Announcement • Sep 15, 2020
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Report Publication Announcement
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Corporate | 15 September 2020 15:51
German Startups Group GmbH & Co. KGaA: German Startups Group records the exit of its portfolio company Fiagon AG Medical Technologies
DGAP-News: German Startups Group GmbH & Co. KGaA / Key word(s): Disposal/Investment
15.09.2020 / 15:51
The issuer is solely responsible for the content of this announcement.
+++ Press release +++
**German Startups Group records the exit of its
portfolio company Fiagon AG Medical Technologies**
– Cash inflow of over 2.3 million euros over three years
– P&L effect of just under 0.4 million euros
– Capital gain of almost 1.2 million euros
Berlin, 15 September 2020 – The German Startups Group, a leading venture capital provider in Germany up to now and a future private equity asset manager, records the exit of one of its portfolio companies. All shares of Fiagon AG Medical Technologies, a leader in electromagnetic surgical navigation solutions, based in Henningsdorf near Berlin, have been acquired by Intersect ENT, Inc., a NASDAQ listed medtech company transforming care for patients with ear, nose and throat (“ENT”) conditions, based in Menlo Parc, Silicon Valley, California.
The German Startups Group is a shareholder of Fiagon since its initial investment in 2015, currently with a share of 2.5%. It will receive more than 2.3 million euros over three years time out of the transaction. Besides, the German Startups Group realises a capital gain over acquisition cost in the amount of almost 1.2 million euros, and a gain over its last book value of almost 0.4 million euros. With its investment in Fiagon the German Startups Group achieves a multiple of 2x and an IRR of 24% p.a.
**Investor relations contact
German Startups Group**
Florian Dammann
15.09.2020 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 www.dgap.de
| Language: | English |
| Company: | German Startups Group GmbH & Co. KGaA |
| Platz der Luftbrücke 4-6 | |
| 12101 Berlin | |
| Germany | |
| Phone: | +49 (0)30-54908603 |
| Fax: | +49 (0)30-54908604 |
| E-mail: | [email protected] |
| Internet: | www.german-startups.com |
| ISIN: | DE000A1MMEV4 |
| WKN: | A1MMEV |
| Indices: | Scale 30 |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Tradegate Exchange |
| EQS News ID: | 1132001 |
| End of News | DGAP News Service |