After its debut of Delivery Hero AG on the Deutche Borse, German Startups Group said it has successfully sold its entire holding in the company.
German Startups Group said it realised its capital gains through the sale of shares in the course of the IPO of its focus investment Delivery Hero AG.
German Startups Group, is a private venture capital investor in Germany since 2012. The group invested in 2013 and 2014 in Delivery Hero and now sold its shares in the course of the successful placement within the IPO of the focus investment, realising proceeds of roughly 1.7 million euros and through it a multiple of the capital invested of nearly 5x as well as an internal rate of return (IRR) of over 60% p.a.
The group disclosed that compared to its acquisition costs, German Startups Group achieves capital gains of ca. 1.3 million euros, respectively 0.11 euros per share (IFRS).
Christoph Gerlinger, CEO of German Startups Group, comments: “The successful exit with Delivery Hero makes us happy in multiple ways: Firstly, we can record a remarkable economic success, secondly, our approach of systematically buying so called secondary shares sees itself confirmed once again, which meanwhile we are well-known and appreciated for within the market. The Delivery Hero Team around Niklas Östberg have carried out excellent work over the last few years, especially the ambitious but successful internationalisation in over 40 countries is no matter of course for a German startup. It is another proof that also German startups and tech companies have the potential to become global market leaders. We sincerely thank the whole team for their excellent hard work of the last few years!”