MFG Invest Report, Q3 2023

Thanks to the new shareholders in MFG Invest AD, who subscribed shares traded in the BEAM segment of the Bulgarian Stock Exchange (BSE), in 2023 we managed to realize six new investments and two subsequent ones in Tiger Technology and Eleven Fund III.

During the year, three of our companies managed to get an increased valuation – eBag, Tiger Technology and Ondo Solutions.
On the other hand, we have decided to write off three others from our balance sheet – Settle Group, POP Market Greece and Log Sentinel.

In 2024, we took an active part in the startup ecosystem. This has a positive effect on the number of deals we consider, including internationally. We are determined to strengthen this activity. Thus, we will have an increasingly richer selection of potential investments.

We continue to put the team first as an investment criterion, believing that it is the leading factor in early-stage companies, which is also our focus.

In 2024, we expect some of our portfolio companies to raise new funding rounds, starting with Boleron. On 15.02.2024, the online insurance platform made a successful IPO on the BEAM segment of the BSE. The company placed 955,051 new shares and raised additional capital in the amount of BGN 3,170,769.