Prime Fund aiming to close 10 new investments this year

The fund is eyeing established technology and IT companies as well as startups, Svoboda said. It is looking at targets in the fields of cloud and e-commerce, software-as-a-service, infrastructure services, Internet of Things, IT development, cryptocurrency and blockchain. It is also eyeing companies with technologies and innovations in non-IT fields, such as ecology and medicine, Svoboda added.

The fund is looking at more than 15 opportunities. It is in advanced talks with five Czech targets in the fields of blockchain, cryptocurrency, IT, cloud services, and ecology, Svoboda said. While most of these five targets are established companies, one is a startup.

The investment into each established company will be several million euros. For established companies, the fund could acquire a majority or minority stake; in the case of startups, it plans to invest up to €2m and will consider investing alongside several other funds, Svoboda added.

The fund can invest up to €10m in a target without a co-investor. In the case of larger investments, it plans to co-invest with PE funds, VC funds, family offices and banks.

Prime Fund aims to close four of these investments during Q1 2021, according to Svoboda. The firm is initially focusing on the Czech Republic and Slovakia, and plans to begin investing in Poland, Hungary and Austria, from next year, the partner added.

The fund is open-ended and aims to raise CZK 1bn (€40m) in total. Although all of its investors so far are individuals, it also aims to attract institutional investors once it has established a longer track record, Svoboda said.

Read the rest of this article on Unquote sister publication Mergermarket

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