The success story of the Horizonte Slovene Enterprise Fund
Significant leverage of equity and considerable economic impact
Established in 1995 Horizonte Slovene Enterprise Fund was the first Venture Capital fund (“the Fund”) with Slovenia as the investment target region. With a total committed capital of €8.4 million the Fund invested in 10 portfolio companies. Although small in size the Fund has achieved the following significant aggregate (including all portfolio companies) results:
Sales volume:
No. of employees:
in 1999 the Fund through its portfolio companies was the second largest foreign employer in Slovenia (approx. 900 employees)
Added value:
40% of the Fund was invested in technology based projects
Technology:
50% of all foreign patents in Slovenia (excluding the two large Slovene pharmaceutical companies) were granted to Horizonte portfolio companies
Cofinancing volume:
Exit multiples:
3 investments achieved a multiple of > 4;
2 investments together returned the entire committed capital of the Fund.