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FLASHPOINT-VC

31.10.2023 10:28:29 CET | Business Wire | Press release

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Flashpoint Announces New Joint Venture Fund Targeting $150 Million to Invest in Direct Secondaries

Flashpoint announces its partnership with renowned growth investor, Roman Ivaniuk through the establishment of a joint venture fund to invest in direct secondary opportunities in growth stage companies in Europe.

Flashpoint is an international tech investment manager with over $400 million AUM focused on tech companies originating from Europe and Israel. Roman Ivaniuk is an investment banker with 12+ years of experience, 50+ closed deals (VC, PE, pre-IPO, IPO), and $1B+ total closed deals value. He is a Founder and former MP of GR Capital (a Pan-European venture fund), the current Founder and MP of an investment company BrightOne Capital.

The fund’s strategy will be to support prominent growth-stage tech companies in Europe through investments in direct secondary opportunities. The unique synergy of this partnership will be directed towards raising $150 million, with an initial $50 million for the first closing. The partners have been present in the EU/Israel VC ecosystem for 10+ years. They established direct relationships with founders and investors alike, giving them unique insights into market trends and access to exclusive deal flow.

Flashpoint made 13 primary investments into growth-stage companies within its portfolio of 47 active investments. This is the second Flashpoint fund investing in direct secondaries: the predecessor, Flashpoint Secondary Fund I (“FSF I”), was launched in 2020 and was anchored by the Scheinberg family office. The current portfolio of FSF I consists of 6 later-stage companies, including K2View, Printify, Preply, Mesh Payments, Booksy, and Landtech.

Roman Ivaniuk’s track record covers investments in WeFox, McMackler, Glovo, Deliveroo, Sennder, Azimo and Flashcenpost among others. There were 10 successful exits in his portfolio in 2016-2021. He also has a strong private equity experience in Ukraine, having developed the country’s largest healthcare chain Dobrotut.

Flashpoint, led by Alex Konoplyasty, Michael Szalontay, and Igor Bilous, is renowned for its strategic investments in innovative technology startups originating from Emerging Europe and Israel. Flashpoint manages five funds: 3 VC funds, 1 Growth Debt Fund, and 1 Direct Secondaries Fund. Investors in Flashpoint’s funds include more than 130 major family offices and HNWIs. The funds have made investments in over 66 companies including Guesty, Chili Piper, and Office RnD. Flashpoint has completed fifteen 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.

Currently, Roman is focused on late-stage VC and Growth investments in the EU/UK, on globalization and expansion of profitable companies with Ukrainian roots, cross-border transactions, and international fundraising.

Michael Szalontay, General Partner at Flashpoint, said: “We are delighted to announce our partnership with Roman Ivaniuk on this innovative joint venture fund. Together, we can combine our substantial networks and track records across CEE and Israel to deliver significant value and expertise to investors and investees alike. We are excited about our prospects as we pursue our goal of raising $150 million which we will allocate to some of the world’s most exciting growth stories.”

Roman Ivaniuk, Managing Partner at Flashpoint RI Secondary Fund II, said: “This joint venture is an extension of our successful investments in the EU tech companies with their further expansion. Flashpoint VC has a strong CEE base and a great VC track record. I helped to globalize my portfolio of growth companies in the CEE region and know every step from the inside. Together we have a cool overlap and unique strategy. Our expertise and direct access to the companies is a great value for our Secondary Fund. I feel confidence and excitement toward our new joint venture and our future investment opportunities.”

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