Triangle sells majority of its vintage 1999 to 2001 portfolio company holdings
Apr 24, 2006
Existing Triangle investors receive a significant cash return
In a transaction involving eight companies, Triangle sold the majority of its Fund I-III
portfolio companies to a well established European financial investor. Triangle will
continue to manage the portfolio and take advantage of current attractive M&A and IPO
markets.
"We are in the upper quartile with those VCs who realized significant cash returns (DPI)
for their vintage year 1999 and 2001 funds - and these are the statistics for US VCs."
says Triangle founding partner Uli W. Fricke. "The returns from the transaction also
reflect the high value Triangle was able to develop. At time of investment, all the
companies were in their seed phase, generating almost zero revenue; the most successful
ones will make €8-10 million this year." Fricke continues, "What makes us successful?
It's the mix: we are private, have an Anglo-Saxon approach, and are entrepreneurs
ourselves with a deep understanding of technology."
Triangle focuses exclusively on university and research spin-offs and is currently the
only VC to do so in Germany. With its current Fund IV, Triangle raises the tail end of
its €50-75 million target. Triangle has a team of eight, six of whom are professionals.