The fund MCI.TechVentures (MCI.TV, Fund), seeing enormous growth potential in the insurtech solutions offered by NaviExpert, has decided to remain invested in the company. At the same time, taking advantage of NaviExpert’s very positive financial results, MCI.TechVentures carried out the company’s recapitalization with a fund co-managed by Credit Value Investments (CVI).
The Polish Financial Supervision Authority (KNF) has approved the issue prospectus for the program for issue of bonds of MCI.PrivateVentures FIZ (MCI.PV), the largest fund of the MCI Group, consisting of the MCI.TechVentures and MCI.EuroVentures sub-funds.
- As at 30 June 2017, NAV per share (NAV/s) stood at PLN 19.54 compared to PLN 17.75 at the end of 2016.
- Half of the increase in NAV/s is due to the increased value of Company’s investment certificates, with the other half being due to the buyback and share redemption operations carried out.
- As at 30 June 2017, the value of MCI’s assets was PLN 1.335 billion.
- Net profit amounted to PLN 47.4 million, with a return on investment standing at PLN 56 million.
The company has announced that, as of the beginning of July, the following internal promotions of key personnel will take place. Ewa Ogryczak will be promoted to Senior Partner, Krzysztof Konopiński to Partner, and Łukasz Wierdak to Investment Partner.
The mfind, an insurance comparison website, which has been part of the Internet Ventures fund portfolio at MCI CAPITAL Group since 2015, has acquired another shareholder as part of a new round of financing. Some of the shares were acquired by Martis Consulting, which has assets, among others, in the technology, consulting and real estate sectors.
A group of innovative companies established Digital Poland Foundation to support the concept and development of digital economy in Poland. Individual projects will be driven by the collaborative approach of the foundation’s members and institutional stakeholders.