Primus’ investment portfolio consists of some of Hungary’s most promising, fast-growing companies in a variety of industries, from software to services, technology to media and biotech.
PRIMUS III INVESTMENTS
Currently, Blueprint represents the largest investment in the Primus Venture Capital Fund portfolio.
In the 2.5 years since its 2011 inception, BPE has grown into one of the most significant science center operators in Central-Europe. BPE has three centers as of date:
- Odysseum, a science center in Köln: The operation was taken over by BPE in May 2013, and the venue was fully renovated on a budget of EUR 2 million over a span of 2.5 months. Sprawling across 8,000 sqm, Odysseum was granted a license to feature Maus, a local cartoon favorite at the center. In 2013 Odysseum is expected to entertain 200,000 visitors.
- Explorado, a children’s museum in Duisburg. This facility was reopened in June 2013 after a complete revamping of its themes to target kindergartners, lower elementary pupils and their. Explorado is accommodated across an area of 2500 sqm, looking to attract 50,000 visitors in 2013.
- Earth Explorer in Belgium. Occupying 3,000 sqm, this science center is designed around the theme of the four elements. Earth Explorer is expected to open on 2014 Q2.
BPE aims at becoming the largest science center operator in Europe. Along with its mission, it is planning the takeover of further facilities. BPE is expected by Primus to be joined by a third-party private equity investor.
BBS is a highly promising classic developer company with an innovative nanotechnology for packaging medical agents for the targetted delivery of MRI and PET contrast agents and chemotherapeutical substances into tumor cells. The unique BBS technology allows for more efficient tumor diagnostics, mitigating the side effects of chemotherapy to a large degree, through a more targetted delivery of medication. BBS is conducting animal tests to validate its claims concerning ”packaged” medication. The company employs 10 researchers and has its technology patented. BBS is planning to license its technology to large pharmaceuticals, which may thus hope for a prolonged patent protection of their packaged medications.
The Primus III. Fund made a HUF 320 million investment in IVM Plc. Launched in 2010, IVM’s business is focused around manufacturing and renting out industrial vending machines across Hungary and Central Europe. The vending machines deployed by IVM are mainly used for the controlled dispensing of low-value, high-demand tools and accessories (e.g. nuts and bolts, oil, rubber gloves, etc.). Capable of managing access rights, the machine can connect to the inventory and financial systems of the client through a custom software, allowing for automatic inventory filling and up-to-date expenditure records. Experiences so far have shown a min. 30% drop in usage of materials and accessories by virtue of IVM vending machines. The savings in material costs are coupled by lower logistics and warehousing costs.
IVM boasts international manufacturers among its clients, e.g. Würth, GE, Zoltek, etc. Since its inception, IVM has deployed about 260 industrial vending machines in Central Europe, making it the leading provider in this segment.
Adfit is an innovative, early-stage company with a primary focus on creating a new channel for marketing communication via invoice mails. Partnering with companies with a substantial clientele (public utilities companies, banks, telco) Adfit allows these businesses to leverage their large volume of invoices issued through targetted placement of own or third party advertisements.
As part of its business, Adfit:
1. Redesigns the invoice of the database owner enabling it for color, visual advertisements, including the programming of the invoice layout;
2. Screens the quality of the client database, enriches it by means of statistical procedures, and segments the resulting database to enable it for targetted ad placement. Adspace Manager, Adfit’s software of choice, allows for inserting ad campaigns in the invoice database. The software is capable of handling the entire process from inventory management to integrating the visuals into the invoice;
3. Acts as a virtual ad agency selling invoice ad space directly or indirectly (ad serving).
The Adfit software can not only handle printed invoices, but also electronic ones (internet and mobile-based invoices). So far, Adfit has served advertisements on the invoices of Díjbeszedő Plc. via 20-25 transpromo campaigns (Key clients: Raiffeisen Bank, Provident Group, Chartis Insurance, etc.)
Founded in 2008, COMFORCE Plc. is the first telework-based contact center in Central Europe offering multi-platform call center solutions. COMFORCE’s business model centers around providing competitive contact/call center services involving low-skill, part-time telework in a growing number of countries in the region.
Thus far, COMFORCE has handled 1 million+ phonecalls. A few pivotal numbers from its first year of business: 50 successful projects, 40+ clients, HUF 140 million revenue. With 400+ registered employees and 5 rented offices (Győr, Beregszász, Miskolc, Nyíregyháza, Budapest), the company employs an 8-member crew based in Esztergom to manage the hardware at the heart of the company’s service. (Key domestic clients: Google, Praktiker)
2013 has brought along numerous new, international projects for Comforce, taking the company to new territories with its contact center services now being provided also in English and German. The key competitive advantage of Comforce lies in leveraging local telework potential in key markets by means of its custom-tailored software, resulting in quality service superior to leading international, large-volume & cheap-labor call center providers, at costs lower than classic local call centers.
Multipass Solutions (Multipass) Plc.
Headquartered in Pécs, Multipass Solutions is one of the leading competitors in corporate mobile and application integration software development. In January 2012, Primus III. invested HUF 270 million in Multipass Solutions Plc. The corporate software of the company allows for efficient document access and high-volume data management for large corporations and institutions in a multitude of formats and across a variety of software platforms.
After dozens of consulting projects, the management of Multipass recognized a demand for a software streamlined for efficient document management (CMX) and flexible data access (INVITO) in closed-circuit corporate data systems. CMX is a data migration tool designed for seamless data flow, handling various data formats and converting these to a universally accessible format. INVITO is capable of collaborating with all the major corporate content management systems via mobile phone to address the most common issues arising with ECM systems.
The company is managed by seasoned professionals, which is mitigating product risks to a minimum. Both INVITO and CMX are competitive, market-proven products. CMX is a popular choice for large domestic corporations, while INVITO was tested by T-Mobile, as an exclusive partner, this spring.
HYD Pharma Plc. received a HUF 400 million investment from the Primus III. Fund. The investment is aimed primarily at scientifically validating the physiological effects of deuterium-depleted water patented by HYD via a multi-centered, international phase II. clinical research. HYD is a profitable, innovative enterprise with a current revenue of EUR 2.5 million from manufacturing and distributing deuterium-depleted mineral water (Preventa product line) and a registered animal medication (Vetera). The company is set to expand into other European markets and introduce new product lines based on deuterium-depleted foods. The company has 17 employees, 6 of them being involved in research. The results from Phase II. research is expected to be licensed to pharmaceuticals with a broad portfolio of oncological medications.
Remagine Technologies Plc.
Remagine is an innovative start-up with a self-developed electric power analytical technology, which – by virtue of both its hardware and software constituents – is capable of measuring the fluctuations in electric current and map the consumption patterns of individual power consumers (devices, machinery). The Remagine technology can:
- predict failure of electrical equipment and machinery in advance (which is especially handy in case of just in time assembly lines, e.g. in pharmaceutics;
- predict the power consumption of production units allowing for optimizing energy usage;
- monitor the electric power supply provided by electric utilities companies, resulting in savings when paying electric bills.
Capital from the Primus III. investment is allocated to introduce Remagine’s technology to the market, both domestically and internationally.
Maven 7 Plc
Primus Capital made a HUF 235 million investment in Maven 7, whose main area of business is creating organizational analyses based on network research. The investment is set to launch the company’s very own cloud-based software service, Firmnet Online, in international markets, including the U.S.A. and the Europen Union. This software is designed to analyze the organizational structure of corporations along various dimensions relying on the most modern tools of network research. Its key target group is organizational consultants who can broaden the horizon of their consulting projects and base their recommendations on solid facts. Since its establishment in 2009, Maven 7 has concluded 300+ successful network research projects with a key focus on organizational, social media and pharmaceutical analyses. There is a firm theoretical network research and mathematical background behind the software pioneered by Maven 7, provided by the internationally acclaimed founders of the company:
– Albert László Barabási, a professor of Harvard and Northeastern University, one of the most cited scholars in network research
– Tamás Vicsek, professor of ELTE’s biophysics department
iCatapult is a business incubator established by Primus III. iCatapult’s strategy is to embrace start-ups on the mobile and internet scenes, collaborate with them on distilling their business development and provide financing. iCatapult focuses on early-stage start-ups with international growth potential, i.e. with products or services which are easy to introduce onto the global market. iCatapult is a member of the Techstars Global Accelerator Network (gan.co) with access to international experts (aka mentors) and investors.
iCatapult is intent on leading its incubees onto the global marketplace and enable them to attract investors (venture capitalists, professional investors) within 1 year of first contact.
iCatapult was successfully accredited in the Gazella incubatorship program of the National Innovation Office and enjoys the status of Accredited Technological Incubator.
PRIMUS I, II INVESTMENTS
Best-known as publisher of the free biweekly English-language guide, Budapest FUNZINE, FUNZINE Media Ltd. is a provider of print and online content in several languages, both under its own brand and on behalf of companies and institutions, and also offers professional event management services.
Intellio Ltd. is the developer of a revolutionary new generation of advanced video surveillance systems. By automating the recognition of events, the Intellio system enables security providers to take immediate action to protect both person and property, and retailers to collect valuable customer profile information.
Sense/Net Ltd. is the developer of the first open-source enterprise content management system (ECMS) for the .net platform. Sense/Net 6.0 offers enterprises the opportunity to aggregate content, information, applications and processes into a single point of access. It is dual licensed, with a free community edition, and a licensed, fully supported Enterprise edition.
Nebotrade Ltd. is one of the largest developers, manufacturers and exporters of microbiological media in Central and Eastern Europe with over 160 different microbiology products, exported to 15 countries. Nebotrade also develops and markets real-time genetic diagnostic products to identify genetic propensity for a range of illnesses.