Newsletter 01/2021

Strong exit year

over PLN 1.05 billion

Record Dry Powder Level

~ PLN 930M

NEW Investment financing from RBI

EURO 41M

ATM exit

EV 2.8x CoC

PLN 489M

CV 1.3x CoC

PLN 61M

Frisco exit

2.8x CoC

PLN 126M

Netrisk as recap with
TA Associates

4.1x CoC

PLN 322M

2020 - EXITED PORTFOLIO AND 1 IPO

Last year, although incredibly challenging for most sectors of the economy, has highlighted the readiness of the digital economy to adapt to practically all possible scenarios. We also saw that consumers are ready to switch instantly from their well-trodden

habits to online channels, uncompromisingly satisfying their every need. This sentiment is here to stay, forever changing the way we shop, bank or even deal with state entities.

The last 12 months were also record-breaking in terms of Digital IPOs from CEE/Poland, like Allegro – Europe’s largest ever IPO in Tech Space and InPost, Europe’s most profitable PE deal ever. These prove how attractive Central & Eastern Europe may be to PE investors.

For many years, MCI has been focusing on putting its experience behind companies ready to digitalize and now, undeniably, their time has come. For us 2020 was a year of record breaking exits with total of 11 exits across our VC, Growth and Buyout portfolio. We are entering 2021 with a record level of dry powder and will actively search for the next European Digital Challengers candidates.

Our Team

Ewa Ogryczak

Chief Operating Officer

Maciej Kowalski

PL / BALTICS / NORDICS, E-commerce,
Telecommunication, B2B software & services

Filip Berkowski

HUNGARY, SaaS, FinTech, Payments

Sebastian Millinder

CZECH / SLOVAKIA, Marketplaces, Classifieds

Hubert Wichrowski

Gaming, B2C Apps

Sergiusz Nowak

Medtech, Edtech

MCI.EuroVentures finalized the sale of ATM, a Polish data centre leader, to Global Compute Infrastructure LP, a platform backed by the Goldman Sachs Merchant Banking Division.

Answear’s IPO was the largest public offering with MCI as leading financial investor, it was also one of the most popular IPOs among individual investors in recent years. The total return on the transaction was 2.7x CoC.

TechVentures’ portfolio company - Asgoodasnew - closed a significant financing round led by Verdane, a large growth equity investor.

Azimo continues to expand its global reach and partners with ALIPAY to provide instant money transfers to China.

IdoSell with two new records in November: PLN 1.2 billion GMV and 5.2 million orders. IdoSell’s success is driven by the success of its merchants, whose turnover in November grew by an average of 54.8% and the number of orders increased by 40% compared to the same period in 2019.

MarketFinance approved by British Business Bank as CBILS Lender with additional funding of £50M. In 2020 MarketFinance have increased lending to over £340 million and helped thousands of businesses navigate their own way out of the pandemic.

Morele.net is significantly expanding its own marketplace by taking over traffic from the Polish site of eMag.pl. In Q4, Morele grew by over 50% YoY in terms of revenue and we are assessing exit options for this investment.

Gett completes $115M funding round from strong investor base and finished 2020 operationally profitable and on budget.

Deutsche Telekom invests in RemoteMyApp, a Polish cloud gaming company. Together, they created MagentaGaming, a platform that gives Deutsche Telekom's vast subscriber base access to cloud gaming.

Netrisk, owned by MCI and TA Associates acquired Klik, a leading online insurance broker in the Czech Republic and Slovakia.

Tomasz Czechowicz and MCI with the Capitalist of the Year 2020 award at the 5th Polish Capital Congress, organized by Forbes.

MCI Capital obtained a license from the Polish Financial Supervision Authority to perform the internal activities of an Alternative Investment Company (ASI/ZASI).

The verification process took over 3 years, MCI’s credibility and financial condition were deeply audited. The positive decision is a testimony to the highest standards customarily set for investment funds.