September 24 (SeeNews) - Italy-based investment company META Ventures said it acquired the remaining 49% stake in Slovenian fund manager META Ingenium from Slovenia’s sovereign holding company, SDH.
The acquisition is a result of a public tender opened by SDH at the end of February, META Ventures said in a statement earlier this month.
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It did not provide the value and the other details of the transaction.
"This deal confirms the good relations in the 10-year partnership in META Ingenium. META Ventures, who remains at the same time the sole shareholder of the VC and its management company, will continue to manage four active investments out of 10 early-stage firms initially making part of the portfolio with the total invested value of just over 8 million euro," META Ventures said.
The four investments include Apartmaji, DS Meritve, ORPE, and BIA Separations, it added.
META Ingenium is a risk capital fund which targets innovative companies with high growth potential in Slovenia and abroad.
"The deal gives an opportunity to us to continue to support the most prosperous firms in the portfolio and maximise the returns at exits. We are confident that the active companies in the portfolio will demonstrate their agility in this uncertain period and continue to grow further," META Ventures CEO, Luigi Amati, said in the statement.
META Ventures was established in Italy more than 27 years ago, specialising in early-stage equity financing, advisory and academic activities. It has so far invested more than 100 million euro ($116 million) in over 100 high-growth startups across Europe. It has been present in Slovenia for more than two decades and currently manages funds also in Italy and Poland.
($=0.859157 euro)