Flashpoint announced its 4th exit in 2023, bringing to a total number of 17. The latest exits yielded returns ranging from 30% to 40%.
Warsaw, 14th December 2023 – Telemedi, leading Polish hybrid healthcare provider and digital health platform, partners with Mavie, an Austrian-based healthcare investor and venture builder. As a long-term partner, Mavie acquires a majority stake in Telemedi and will provide future strategic support to the leading Polish healthtech provider. The two companies plan to work together to achieve sustainable growth. They will focus on expanding the portfolio and exploring new markets. A group of early investors including Flashpoint, Adamed investing through a dedicated fund, Docplanner, Black Pearls VC, PKO VC, and UNIQA Ventures have participated in the sale.
“During the pandemic, it became obvious that people need democratized access to telemedicine and that Telemedi is in a pole position to provide that. We were impressed with the execution capabilities of Pawel and the team and believe that a partner like Mavie will propel them to the next level. This exit was a textbook example of a value-add acquisition where the parties reinforce each other to build a true market leader.” Alexander Konoplyasty, Managing Partner of Flashpoint Venture Capital
“In Poland, telemedicine is an important pillar of healthcare. 80% of Poles rely on it. We have been active in this area since 2014 and it has grown strongly in recent years. We have extensive experience with what is needed and accepted by patients. More than 300,000 patients rely on our services, and we process around half a million medical inquiries every year. We are a trusted partner for all major Polish insurance companies helping them to operate their health insurance products as well as for the public sector. 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,” says Paweł Sieczkiewicz, founder and CEO of Telemedi.
Flashpoint is an international tech investment manager with c. $425 million AUM focused on US and Western European tech companies originating from Europe and Israel. Flashpoint manages five venture funds across 3 products: 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 66 companies including names such as Guesty, Chili Piper, and Office RnD. Flashpoint has completed 17 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), Office RnD (to Blue Star Innovation Partners) etc.
Our mission at Flashpoint is to bring together capital, knowledge, people, and best practices and help socially responsible development. Monetary returns are 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 in e-learning, telemedicine, and online job platforms.