Zong, a company originally from Switzerland specializing in mobile payments. For the London-based VC fund Advent Venture Partners, this constitutes the third successful exit of the year. Frederic Court, who has been a General Partner at Advent Ventures for the last ten years, shares his opinion regarding the exit environment in Europe. Are M&A opportunities increasing for local startups?
Hello Frederic. First, could you specify the three companies in which you had invested that were acquired this year?
Yes, of course. First was The Foundry, a British company sold to private equity fund Carlyle Group (the firm could not disclose the exit valuation for The Foundry but it is believed to be in the £75-100m range) in March. Then, 49% of DailyMotion was bought by Orange for €60 million in April (and the acquisition of the rest will follow in the near future). And finally, the acquisition of Zong by Ebay for $240 million that we just announced 2 weeks ago.
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Author:Roxanne Varza
