Holtzbrinck Ventures Gets 2.5% Direct Stake in Rocket Internet dice design

Mergers, Acquisitions and Financial Results

An early investor in Rocket Internet‘s seven e-commerce startups Holtzbrinck Ventures (“HV”) has exchanged its entire stakes in seven of Rocket’s most developed e-commerce businesses directly into Rocket, in exchange for a 2.5% direct equity in Rocket.

After the deal, Investment AB Kinnevik owns 18.1%, Access Industries 8.3%, PLDT 8.4% and United Internet 10.4% as external investors in Rocket, in addition to Global Founders Fund GmbH (formerly: European Founders Fund GmbH), which will holds 52.3%.

In a statement, Oliver Samwer, co-founder and CEO of Rocket, said, “Rocket’s platform allows us to build and scale online businesses in fast growing markets all around the world. Holtzbrinck Ventures has been an early and long term supporter of many Rocket companies built on this platform, and has invested in more Rocket companies than any other external investor. This transaction helps Rocket pursue its strategic objective of owning larger stakes in its companies and we welcome HV’s support at the group level. We look forward to continuing our successful partnership.”

This deal will also allow Rocket to own larger stakes in its network of individual companies such as Lamoda, Dafiti, Jabong and Namshi, Home24 and Westwing, as well as in HelloFresh, a leading home food delivery company.HV’s 2.5% was valued on the basis of the last external funding round of the respective companies.

“We are excited to become a direct shareholder in Rocket and build on our long term cooperation,” said Martin Weber, General Partner of Holtzbrinck Ventures. “We are pleased to have made many successful investments alongside Rocket and have tremendous respect for their track record and ability to create successful online companies. We look forward to working with Oliver Samwer and the Rocket team directly as the company continues to grow around the world.”

Holtzbrinck Ventures is one of Europe’s most successful early-stage investors in the internet sector, with investments in some of the internet’s biggest companies including Zalando, Wooga, Groupon, Westwing, Experteer, Dreamlines, Lazada, Flixbus, Quandoo, Lendico, Outfittery, Delivery Hero or Brands4Friends.

In Africa, Rocket Internet with partners runs Jumia, Hellofood, Kaymu, Jovago, Easy Taxi among others.

Source: Techmoran  28 August 2014