IQ Partners continues its investments

2010-08-18

IQ Partners investment fund plans to introduce some of its companies on the NewConnect alternative stock market, where it is also listed itself, as Parkiet reported. At present, the fund is transforming Acreo, an IT solution provider, into a joint-stock company. Before the debut, IQ Partners intends to carry out a small private offering, through which it plans to obtain several hundred thousand Polish zloty. In 2010, Acreo, in which IQ owns a 30% stake, is expected to make PLN 2m (€0.5m) of sales revenues and between PLN 0.2m (€50,000) and PLN 0.3m of (€75,000) net profit.
In addition, the fund plans to bring in new shareholders to Screen Network, a company that manages the largest network of advertising panels in Poland.
IQ Partners also develops new projects via the two incubators InQbe and Ventures Hub, which gained PLN 40m (€10m) in EU funding for development of innovative solutions. To date, the incubators have launched 12 new projects.
At present, the IQ Partners’ subsidiaries listed on New Connect are Zakupy.com, e-Muzyka.pl, e-Kiosk and Site.