Mangrove Capital Partners
Mangrove Capital Partners is an international venture capital firm based in Luxembourg.[1]. It invests in early stage technology companies across Europe and Israel, with $1 billion under management.[2] The firm's successes include Skype and Wix.com.[3] It was one of Europe's first venture firms to feature in the Forbes Midas list of top dealmakers in technology.[4]
History[edit]
Mangrove Capital Partners was founded in 2000 by Mark Tluszcz, Gerard Lopez and Hans-Jürgen Schmitz. One its first investments was Skype, a telecoms business founded by Janus Friis and Niklas Zennström. On 14 October 2005 Skype was acquired by eBay, making it the largest ever exit for a European technology company. Mangrove's $2m investment in Skype returned $200m[5].
Mangrove's second major success was Wix.com, which became the largest technology IPO to come out of Israel when it floated on NASDAQ in 2013. Mangrove invested $8 million into Wix.com, which resulted in a $550 million exit for the firm.
The firm has invested in more than 130 companies since 2000. Other notable investments include WalkMe, Wallapop, Badi and Saga Foundation[6]
Mangrove's CEO Mark Tluszcz drew controversy in April 2015 when he stated that the majority of 'unicorn' companies (those claiming to be worth over $1bn) were in fact 'fakies'.[7] Later in the year the technology industry experienced a significant correction with many highly prized companies seeing their values significantly reduced.
In an article published by the Financial Times in 2017, Mangrove partner Michael Jackson urged the venture capital industry to wake up to threat of initial coin offerings (ICO). He explained how the venture capital industry may be sidelined as startups opt to raise money via cryptocurrency tokens[8]
Europe's Female Founders[edit]
Mangrove launched Europe’s Female Founders, a series of meetups across various European cities designed to help foster a more gender-balanced founder ecosystem.
References[edit]
- ↑ "Europe's Top Venture Capital Investors By Country".
- ↑ "There's an Investor Raising Money for Startups That Don't Sell Out".
- ↑ "Mangrove raises $170M for its new fund to invest in Europe and Israeli startups".
- ↑ "Technology's Top Dealmakers".
- ↑ Shead, Sam (April 16, 2016). "A VC who made $200 million when Skype was acquired explains why Israel has become the 'Startup Nation'". Business Insider. Retrieved August 18, 2016.
- ↑ "A Nobel-winning economist is part of a team launching a low-volatility cryptocurrency".
- ↑ "The Risk of 'Fake Unicorns' in the Tech Sector". BloombergTV. April 7, 2015. Retrieved May 20, 2016.
- ↑ "Venture capital investors urged to wake up to ICOs".
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