HomeUKFlashpoint Announces 16th Exit

Flashpoint Announces 16th Exit

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Flashpoint, a London, UK-based tech investment manager with over $400 million in AUM, announced its exit from OfficeRnD, a dynamic flex and hybrid office automation platform, following its acquisition by Blue Star Innovation Partners (BSIP).

This is Flashpoint’s 16th exit and the 3rd this year after Comeet and Clausematch, and marks another successful return on investment.

Flashpoint first invested in OfficeRnD in 2019 leading the Series A round, before following-on with additional investments over the next few years. The firm played an important role in OfficeRnD’s growth by introducing them to a number of VC funds, aiding the recruitment process for C-level roles, and cooperating on sales and marketing initiatives.

The acquisition of OfficeRnD, founded by CEO Miro Miroslavov, allows the market-leader in workspace management to accelerate their growth strategies with plans to expand reach into North America, and grow their product offerings.

The company has grown and scaled rapidly since being founded in 2015, building a customer base of over 1,000 companies across 70 countries and employing 160 people over 5 countries.

Commenting on the exit, Alex Konoplyasty, Managing Partner at Flashpoint, said: “Our initial investment and now exit have followed the playbook of Flashpoint investment strategy. We have started focussing on proptech as a theme pre-COVID supporting a number of successful businesses, including  OfficeRnD. We’re delighted for all the stakeholders as they begin the next stage of their promising journey with BSIP – it has been a pleasure working with Miro and the team. Simultaneously, Flashpoint keeps its focus on continuously delivering distributions to its investors despite the challenging market conditions.

Flashpoint is an international tech investment manager with over $400 million AUM focused on US and Western European tech companies originating out of Europe and Israel. Headquartered in London and has offices in New York, Tel-Aviv, Budapest, Warsaw, Riga and Nicosia, the firm manages five venture funds across 3 strategies: Venture Capital, Venture Debt, and Direct Secondary.

Investors in Flashpoint’s funds include Széchenyi Funds, a Hungarian fund manager, and more than 140 major family offices and HNWIs. The funds have made investments in 64 companies including names such as Guesty, Chili Piper, and Office RnD. Flashpoint has completed 16 exits, including the sale of its stakes in Shazam (to Apple), Chess.com (to PokerStars founders and General Atlantic), Marketman (to PSG), and Gurushots (to Zedge), Comeet (to Boathouse Capital) etc.

VCWire

17/11/2023