Univercells is a medical engineering company having developed technologies aiming at reducing the cost of vaccines and biologics by significant factors. Amongst others, it has attracted the attention of the Bill & Melinda Gates Foundation and other prominent international investors and been granted important subsidies. The Series B was led by American and Korean professional PE Funds and TheClubDeal has managed the Belgian anchorage by co-investing with prominent Belgian investors. TheClubDeal Fund II has invested in the Serie C, as led by Adjuvant Capital, an American PE Fund. The company has announced aiming an IPO on the NASDAQ by 2022. The IPO is a liquidity window.
Smartflats is the number 1 in Belgium in the “apart-hotel” segment: they fit and rent out extremely well-located flats in the city center and offer them for short stays. They currently manage more than 250 flats (+ 70 since start of negotiation in June 2020) and their growth is accelerating (75 in the Pipeline).
With their accommodation for business and tourism 2.0, guests are independent, everything is digitalised and flexible, and the model has proved its effectiveness against traditional hotel systems, with Smartflats achieving 70% occupancy in a full year of covid. We believe that Smartflats is a rare gem in Belgium in the smart living sector.
Their current model of management mandate (Opco) has proved its relevance, but this does not exclude to study the purchase of real estate (Propco). TheClubDeal, in agreement with the management, considers that the critical size will be reached with 400 apartments in management, which should be reached before the end of 2022 in Belgium, Luxembourg and France only in organic growth.
We have already identified the potential partners or buyers of Smarflats and believe that the milestone of 1,000 apartments under management will be the starting point for a possible exit (2024-2025).
Finally, we would like to point out that there are still a few places left for the co-investment amounting to €2.1m for which around 50% have already been reserved.
Because finding the right partner in the fast-growing digital environment is a challenging task, Sortlist has built an online multi-criterion search tool strongly linked to professional networks, search engines and peer-to-peer recommendations. Sortlist helps managers find their partners in minutes and let them focus on building communication and marketing success.
It is used in the digital agencies sector (design, IT) but will be expanded into new verticals in the coming years. The solution is sold in 55 countries, along a freemium SaaS model. The main geographies are Belgium, France, Netherlands, Germany, and Spain. Next target is to develop the UK and then the USA. The plan is to multiply the Monthly Recurring Revenue (MRR) by a factor of 10 in the next 4 years.