Polish Black Pearls VC exits from Telemedi, selling its stake to Mavie

Black Pearls has announced its third exit this year. The majority stake in one of its portfolio companies, Telemedi, was acquired by Mavie, Austrian healthcare provider. The company will provide strategic support to Telemedi.

• Founded in 2014, Telemedi is a provider of a digital healthcare platform combined with in-house doctors and a network of physical clinics. The company’s clients are both private individuals, large corporates, and insurance companies. Its team cosists of 100 non-medical staff and over 700 in-house doctors. Additionally, the company has an integrated network of 2300 clinics and laboratories.
• Telemedi provides a medical platform that includes telemedicine, in-person visits, imaging diagnostics, and laboratory tests, and operates in 13 languages. In 2017, Black Pearls joined a pre-seed, and then also a €5.5 million Series A round for Telemedi.

“I am pleased that with Mavie we have a partner to strengthen our base, offer new services and bring our know-how to other markets. I would also like to thank my investors and partners helping me build the company. Aleksander and the team of Black Pearls VC were always there whenever I needed to look at something from a different angle or challenge an idea. At the same time, I always felt they trusted my decisions, which is very important for a founder.”

Paweł Sieczkiewicz, CEO of Telemedi.

• Black Pearls VC is an early-stage venture capital firm focused on tech companies from the Baltic Sea region. It invests are pre-seed and seed with a typical ticket of €100,000-€1 million. According to Black Pearls, it achieved a 15,2x Cash on Cash return on its initial pre-seed investment in Telemedi. With an overall return of 3,5x (incl. follow on investments).
• Its partner responsible for the deal was Aleksander Dobrzyniecki, who also joined the company Board of Directors most recently serving as Chairman. In September this year, Black Pearls VC announced exit from Solwit with 3.16x return on investment.

• Since 2020, Mavie develops, establishes, and drives new business models and solutions in the health care sector. Mavie focuses on prevention and rehabilitation for B2C and B2B clients. The fresh deal marks its sixth exit since 2021.
• Mavie and Telemedi plan to work together to achieve sustainable growth providing accessible healthcare to their customers in CEE. They will focus on expanding the portfolio and exploring new markets.