March 16 (SeeNews) - Bulgaria’s MFG Invest [BUL:MFG] said on Thursday that it invested 250,000 euro ($265,581) in France-registered Native Consulting as part of a 1 million euro funding round.
In return for its investment, MFG will receive a stake of 4.17% in Native Consulting, the investment firm said in a bourse filing.
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Native Consulting operates an online platform which helps the arrangement of corporate events. According to the company’s website, the platform allows event organisers to discover and book “unique spaces.” At the same time, owners of such spaces can promote them on the platform.
MFG Invest raised 4.04 million levs ($2.19 million/2.07 million euro) in an initial public offering (IPO) in December, saying it will use the proceeds to invest in new companies or boost investments in portfolio firms.
Most recently, MFG invested a further 525,933 euro in its portfolio firm Tiger Technology. Previously, the firm injected 250,000 euro in Bulgarian-British healthtech startup FindMeCure, 214,936 levs in Bulgarian hydrogen electrolyser systems manufacturer Green Innovation and 100,000 euro in its portfolio firm Eleven Fund III Cooperatief U.A.
MFG Invest is part of Bulgaria-based holding company Management Financial Group (MFG).
($ = 0.9411 euro)