Flashpoint Annual Newsletter

March 28, 2022 12:00 am

We are happy to announce that Flashpoint’ AUM set to cross US$0.5 billion! Click here to see the video press-release

As at December 31, 2021 our Assets Under the Management reached c. US$480 million, amount of exits exceeded US$50 million.

As at the end of 2021 Flashpoint’ active portfolio comprised of 38 technology companies, established by the founders from Central and Eastern Europe, Baltics, CIS, Finland and Israel. During 2021 alone Flashpoint funds invested in 23 new companies and made 11 follow-on investments into the existing portfolio companies for a total of US$93 million. 30% of capital has already been invested into e-learning, telemedicine, online job platforms, sustainable logistics, etc. changing the world to the better in line with our responsible investing approach.

Since inception, Flashpoint has made over 10 exits with 5 exits in 2021 alone, including full exits from MarketMan and Chess.com, combined value of these two assets at the moment of the last exits was US$737 mln.

Flashpoint portfolio companies generated over US$300 million of revenue in 2021 and its total employee count exceeded 2,500 people.

Flashpoint was actively supporting its portfolio companies with raising subsequent rounds helping them to establish proper corporate governance and transparency which resulted in over US$500 million raised by Chili Piper, Guesty, ivi, Borzo (Dostavista), OfficeRnD, testRigor, Accel Club, Dispelix and LandTech from top-tier VC funds during 2021.

During the year Flashpoint announced the launch of 2 new funds: Flashpoint Secondary Fund I and Flashpoint PLF early-stage fund, as a result the total number of managed funds increased to 6: 4 Venture Capital funds, 1 Venture Debt Fund and 1 Secondary Fund.

This was a record year both in terms of the amount of investments and fundraising by our existing portfolio companies. We were one of the most active investors in our core region adding as many as 23 new tech companies to Flashpoint across our Venture Capital Fund III, Venture Debt and Secondary funds. We pride ourselves on our real involvement with the companies we back, specifically building strong connections with the founders of these brands and helping them to fundraise.

We were actively working on exits from our earlier Venture Capital Funds I and II. We are very proud of both the exit from MarketMan to PSG, as well as the final exit from Chess.com to General Atlantic, as these deals generated 10x+ cash-on cash exit multiples for us. We also strengthened our team for the next cycle of growth in tech: we now have 9 partners and a total of 32 employees. Similar to the companies that we back, people are the heart and soul of our success.

Sincerely yours, General Managers of Flashpoint

Alexander Konoplyasty

Michael Szalontay