Poland’s Internet Ventures (IV) FIZ exits Focus Telecom and liquidates the fund
Internet Ventures FIZ (MCI Capital Group) has announced the exit from its last investment in Focus Telecom. Via the transaction, Internet Ventures plans to return all invested costs to investors and then liquidate the fund.
The exit details
- Internet Ventures is the second venture capital fund in the MCI Capital Group, next to Helix Ventures Partners, with funds from PFR Ventures. In addition to the exit, the fund has announced the end of its operations generating a positive rate of return.
- Focus Telecom is the last company in the Internet Ventures FIZ portfolio. The fund owned 28.7% of the company’s shares, which were sold for around €6.6 million (PLN 28.8 million).
About Focus Telecom
Focus Telecom is a Warsaw-based software developer specializing in business communication and automation. The company provides systems for managing communication with customers in various channels (including telephone, e-mail, chat, SMS, social media) and customer service tools (so-called Customer Experience as a Service ), as well as offering a telephone exchange in the cloud.
Currently, Focus Telecom employs over 120 people. The company also claims its model and approach to business allows users to drop the costs of buying and maintaining expensive hardware and dedicated software.