Flashpoint announces 16th exit bringing total LP distributions to c.$110 million
November 10, 2023 – London – Flashpoint, a leading international tech investment manager with over $400 million in AUM, is delighted to announce its exit from OfficeRnD, a dynamic flex and hybrid office automation platform, following its investment by Blue Star Innovation Partners (BSIP). This is Flashpoint’s 16th exit and the 3rd this year after Comeet and Clausematch, and marks another successful return on investment.
Flashpoint first invested in OfficeRnD in 2019 leading the Series A round, before following-on with additional investments over the next few years.
Flashpoint, headquartered in London, played an important role in OfficeRnD’s growth by introducing them to a number of VC funds, aiding the recruitment process for C-level roles, and cooperating on sales and marketing initiatives.
The new investment in OfficeRnD – founded by CEO Miro Miroslavov – allows the market-leader in workspace management to accelerate their growth strategies with plans to expand reach into North America, and grow their product offerings.
The company has grown and scaled rapidly since being founded in 2015, building a customer base of over 1,000 companies across 70 countries and employing 160 people over 5 countries.
Alex Konoplyasty, Managing Partner at Flashpoint, expressed his excitement regarding such a successful exit and the future of OfficeRnD: “Our initial investment and now exit have followed the playbook of Flashpoint investment strategy. We have started focussing on proptech as a theme pre-COVID supporting a number of successful businesses, including OfficeRnD. We’re delighted for all the stakeholders as they begin the next stage of their promising journey with BSIP – it has been a pleasure working with Miro and the team. Simultaneously, Flashpoint keeps its focus on continuously delivering distributions to its investors despite the challenging market conditions.”
About Flashpoint Venture Capital
Flashpoint is an international tech investment manager with over $400 million AUM focused on US and Western European tech companies originating out of Europe and Israel. Flashpoint manages five venture funds across 3 strategies: Venture Capital, Venture Debt, and Direct Secondary. The firm is headquartered in London and has offices in New York, Tel-Aviv, Budapest, Warsaw, Riga and Nicosia.
Investors in Flashpoint’s funds include Széchenyi Funds, a Hungarian fund manager, and more than 140 major family offices and HNWIs. The funds have made investments in 64 companies including names such as Guesty, Chili Piper, and Office RnD. Flashpoint has completed 16 exits, including the sale of its stakes in Shazam (to Apple), Chess.com (to PokerStars founders and General Atlantic), Marketman (to PSG), and Gurushots (to Zedge), Comeet (to Boathouse Capital) etc.
Our mission at Flashpoint is to bring together capital, knowledge, people and best practices and help socially responsible development. Monetary returns are of course important, but non-tangible aspects of our work are equally important for our team. We have invested a third of our capital in themes that change the world for the better, this includes investments into e-learning, telemedicine, online job platforms.