The Ukrainian venture capital fund TA Ventures, together with the private investor club ICLUB Global, exited German startup Qentnis. At the time of participation in the round, the startup was valued at 13.5 million euros. The current value of the company after the takeover has not been disclosed.
Details of the deal
The company is a provider of financial metrics. Such data helps hedge funds and other institutional investors analyze the development of both the market and specific companies to improve their investment strategies.
The startup was acquired by another well-known data provider, Consumer Edge, which operates in the US and UK markets. The exit occurred after eight months, representing a record for club members.
“We entered the deal in October 2021, and already this June, the startup team announced the M&A. Our previous record was 11 months,”
Anton Poleskov, head of ICLUB Global in Kyiv.
ICLUB Global had 15 investors participating. This is the sixth exit in the club’s history since its founding.
ICLUB Global is an international network of private investor clubs founded by TA Ventures, which allows you to invest in European and American startups together with TA Ventures. ICLUB Global was opened in Kyiv, Zurich, Dubai, London, Monaco, Almaty, and Cyprus.
Investor perspective
At the beginning of acquaintance with the startup, analysts at TA Ventures drew attention to a wide list of exit opportunities, among which M&A was the most likely. Potential buyers could be traditional data providers (S&P, Bloomberg, Pitchbook) and statistical agencies (Nielsen or Jfk). As a result, Qentnis was bought by a data-related company.
The global alternative data market was estimated at $1.72 billion in 2020 and is projected to grow 58.5% annually through 2028. However, at the same time as this growth, there is still no clear leader in Europe, while competition is limited in the U.S.
