MCI.TechVentures Fund (Fund, MCI.TV) sold its shares in iZettle as part of one of the largest European acquisitions of technology companies in the last decade. The shares were purchased by US-based PayPal.
- The acquisition of iZettle by PayPal for USD 2.2 billion makes iZettle one of the European unicorns.
- The Fund sold its shares in iZettle for about USD 44 million to achieve 3.5x CoC return with Gross IRR above 70%.
- MCI.TV has been one of the investors in the company since 2015, together with such global VC/PE funds as Index Ventures, Intel Capital, 83 North, Northzone or Creandum.
- The management team of MCI.TV plans to use the earned money to continue their strategy of supporting regional and global leaders of digital economy.