Corporate | 15 September 2020 15:51

German Startups Group GmbH & Co. KGaA: German Startups Group records the exit of its portfolio company Fiagon AG Medical Technologies

DGAP-News: German Startups Group GmbH & Co. KGaA / Key word(s): Disposal/Investment
15.09.2020 / 15:51
The issuer is solely responsible for the content of this announcement.

+++ Press release +++

German Startups Group records the exit of its
portfolio company Fiagon AG Medical Technologies

– Cash inflow of over 2.3 million euros over three years

– P&L effect of just under 0.4 million euros

– Capital gain of almost 1.2 million euros

Berlin, 15 September 2020 – The German Startups Group, a leading venture capital provider in Germany up to now and a future private equity asset manager, records the exit of one of its portfolio companies. All shares of Fiagon AG Medical Technologies, a leader in electromagnetic surgical navigation solutions, based in Henningsdorf near Berlin, have been acquired by Intersect ENT, Inc., a NASDAQ listed medtech company transforming care for patients with ear, nose and throat (“ENT”) conditions, based in Menlo Parc, Silicon Valley, California.

The German Startups Group is a shareholder of Fiagon since its initial investment in 2015, currently with a share of 2.5%. It will receive more than 2.3 million euros over three years time out of the transaction. Besides, the German Startups Group realises a capital gain over acquisition cost in the amount of almost 1.2 million euros, and a gain over its last book value of almost 0.4 million euros. With its investment in Fiagon the German Startups Group achieves a multiple of 2x and an IRR of 24% p.a.

Investor relations contact
German Startups Group
Florian Dammann
ir@german-startups.com
www.german-startups.com

15.09.2020 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language:	English
Company:	German Startups Group GmbH & Co. KGaA
	Platz der Luftbrücke 4-6
	12101 Berlin
	Germany
Phone:	+49 (0)30-54908603
Fax:	+49 (0)30-54908604
E-mail:	info@german-startups.com
Internet:	www.german-startups.com
ISIN:	DE000A1MMEV4
WKN:	A1MMEV
Indices:	Scale 30
Listed:	Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Tradegate Exchange
EQS News ID:	1132001

End of News DGAP News Service