Andrey Krivenko’s TealTech Capital acquired 25% of online jewelry and accessories store Poison Drop. The amount of the transaction has not been disclosed, but the purchase, according to analysts, could cost the venture fund about 300 million rubles, writes Forbes.
Within three to five years, TealTech Capital plans to increase the cost of Poison Drop tenfold. At the end of 2023, the fund will be able to accept investments in the company: either with its own funds, by issuing bonds or by attracting new investors.
Poison Drop was founded in 2013 by Andrey Migunov, Irina Kuznetsova, Irina Mysina and Ruslan Trubchik. The seller of 25% of the shares was Irina Kuznetsova.
Last fall, former CEO of investment company Invest AG and vice president of Renaissance Group’s private equity division, Maxim Penkin, bought a 25% stake in the service. The seller of the asset was one of the company’s founders, Ruslan Trubchik.
At the end of 2022, the company managed to increase its revenue to 352 million rubles, in 2021 they amounted to 217 million rubles. Poison Drop’s net profit in 2022 amounted to 1.9 million rubles, up from 30.2 million rubles in 2021.
Author:
Karina Pardaeva
Source: RB
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