SOFIA (Bulgaria), August 25 (SeeNews) – Bulgarian investment company ImPulse I [BUL:IMP] said on Thursday that the median revenue generated by its portfolio of investments in start-up companies increased by 163% in the 12 months to the end of June.
Up to 25% of funds raised in the company’s initial public offering (IPO) held in July 2021 have since been invested in dividend-paying companies, while 71% has been allocated to investment instruments, said ImPulse I in a summary of a presentation. to investors held earlier this week.
Last week, ImPulse I announced that its alternative investment fund ImVenture II had agreed to invest an additional 100,000 euros ($99,690) in insurtech start-up Boleron as part of a capital raise as part of a €2.1 million financing round, which will take place in stages over the next 17 months.
The investment firm’s two funds, ImVenture I and ImVenture II, have taken minority stakes in companies such as biometric systems developer Biodit, logistics and shipping company Discordia, business intelligence platform Browswave and, more recently, cybersecurity company SoCyber.
ImPulse I has made five investments in growth companies through the end of June and is in advanced stages of negotiating deals with four others, he added.
All the companies in its portfolio are Bulgarian, having recorded an overall increase in revenue of 41% in 2021 and allocating a significant part of their production to export.
ImPulse I received 62,300 leva in dividends in the first half of 2022, from companies such as Speedy [BUL:SPDY]interactive telematics Bulgaria [BUL:TIB]Bulgaria Stock Exchange [BUL:BSE] and Allterco [BUL:A4L]. It is expected to receive a dividend of 28,000 levs from Telelink Business Services Group [BUL:TBS] once its shareholders have given their consent.
Earlier this month, ImPulse I recorded a pre-tax loss of 633,000 leva ($322,630/323,650 euros) for the first half of 2022. The company’s net loss resulting from changes in the fair value of assets financial expenses, recognized in profit or loss, amounted to 592,000 for the period.
The value of ImPulse I’s investments in companies listed on the Bulgarian Stock Exchange amounted to a total of 1.66 million levs at the end of June.
In June, ImVenture II acquired Lev 978,000 of shares in US interactive publishing technology start-up Storied Data, which was founded by Bulgarian entrepreneur Rado Kotorov.
Impulse I shares traded down 0.42% to 1.17 levs at 1532 CEST on Thursday.
(1 euro = 1.95583 levs)