IQ Partners promises to do better than MCI fund

opublikowano: 09-11-2007, 11:17

Warsaw (Puls Biznesu) – The fund will be listed on  New Connect and then on the Warsaw Stock Exchange. It founds, develops and sells new technology companies. It is going to ask investors for funds two times.

IQ Partners (IQP) will have its debut on the New Connect in two weeks’ time. The company develops new technologies. It founds a company, or – more rarely – buys a stake, increases the value of the firm and sells it. MCI Management, a company listed on the WSE for several years now, has a similar strategy. The company’s capitalization amounts to PLN 1bn (EUR 275m) today, up from PLN 338m at its debut in 2001.

“We operate in the same branch but our business model differs. We are not only a venture capital fund but we also focus on inventing and developing new projects. We can thus earn more because we don’t pay for the invention”, Maciej Hazubski, IQ Partners CEO said.

MCI closely watches the rival.

“We have many years of experience, good results and a brand. Competition will get stronger as far as small and middle-sized projects are concerned but we could even cooperate at big projects”, Andrzej Jasieniecki, MCI Management investment director said.

Today, IQP’s portfolio is estimated at PLN 20m. It consists of 16 companies, including Zakupy.com (e-trading), Screen Network, Phonecall or E-muzyka. So far, the company invested in new projects alone. If it needed more funds, outside investors like IFA Investment and Busienss Angels Seedfund supported it.

“We have ideas exceeding our financial potential. Hence the private issue which we hope will give us PLN 10m”, Maciej Hazubski.

Half of the funds would be spent for new projects, the rest for the development of existing projects.

IQP will not stay on the New Connect for long.

“Within 6-7 months, we want to shift the company to the WSE. We want to be the first one to move from New Connect to the WSE”, Maciej Hazubski said.

Then, another shares issue will be conducted.
“We are going to list our projects on New Connect in order to have their market value, bigger credibility and development potential”, Maciej Hazubski explained. IQP wants to list Zakupy.com as early as this year. Then, Screen Network and E-kiosk will follow.

(PLN 1 = EUR 0.275)

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