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DN Capital leads seven million Euro growth investment for Mister Spex




DN Capital leads seven million Euro growth investment for Mister Spex



01 Sep 2010
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DN Capital leads seven million Euro growth investment for Mister Spex

London, 07 September 2010 – DN Capital, a leading international media and technology early stage and growth capital investor, has led a €7 million growth investment in Mister Spex, Germany’s largest online retailer of eyewear. French investment company Xange Capital also participated in the round together with existing investors Grazia Equity, High-Tech Gründerfonds, Team Europe Ventures and Astutia.

Mister Spex will use the capital from this investment to strengthen its growth in Germany and also support international expansion. Mister Spex was created in 2008 and has already established itself as the leading online retailer of eyewear such as glasses, contact lenses and sunglasses in Germany. The company has also already reached profitability and is cash generative.

DN Capital was convinced by the promising market potential idea and professional management team from Mister Spex. Nenad Marovac, Managing Partner of DN Capital says: “We have been very impressed with the performance of Mister Spex to date as well as the dynamic management team. We are confident that their model and execution skills will enable the company to continue to be the market leader in Germany and also to successfully expand into other countries.”

Dirk Graber, founder and CEO of Mister Spex, explains: “The new capital shall be used for further growth projects both in Germany and abroad. We will enlarge our marketing activities within Germany to improve brand awareness and visibility of Mister Spex. Following the successful start in France, we will also continue the roll-out of our business model to other countries to establish ourselves as the leading online optician in Europe.”

Mister Spex intentionally looked for partnerships with international venture capital companies. “As well as the financial aspect, it was also important for us that the new partners could help us with industry knowledge and personal contacts in the biggest European markets”, says Graber. “Team Europe Ventures and the other first investors helped us a lot with the first phase. DN Capital and Xange will similarly support us in this next growth phase.”

For further information please contact:

Nenad Marovac DN Capital

Shona Prendergast/Robert Roessler Penrose Financial

About DN Capital

+44 (0)20 7340 1600 nenad@demianortega.com/dncapital

+44 (0)20 7786 4888 DNCapital@penrose.co.uk

-Ends-

DN Capital is a media and technology growth capital and early stage investor with offices in London and Palo Alto. DN Capital’s objective is to identify, invest in and actively support media and technology companies with the potential to be global leaders. Portfolio companies include Shazam Entertainment, Endeca Technologies, Datanomic, OLX, Digital Chocolate and Tbricks.

The professionals at DN Capital bring over 50 years of private equity experience to their investments, and actively work with portfolio companies to steward their growth through the

various stages of development. Additional information about the firm and its portfolio companies can be found on its web site, www.demianortega.com/dncapital.

About Mister Spex

Mister Spex GmbH is the largest online retailer of branded glasses in Germany. The company offers an extensive selection of high quality prescription glasses (including varifocals), sunglasses, sports glasses and contact lenses at favorable prices via the Internet. Mister Spex provides a number of interactive tools on the website, as well as personal support by a competent team of opticians, to help its customers to find the right pair of glasses for them.

In 2009 Mister Spex achieved a turnover of 4.5 million Euro, in 2010 the company plans to exceed the 10 million Euro mark. Mister Spex has gained more than 150,000 customers since the online shop started in April 2008. At the moment the fast-growing, Berlin-based company has a total of 90 members of staff, including 50 permanent employees.
Additional information can be found on http://misterspex.de

© Copyright 2013 DN Capital. DN Capital is authorised and regulated by the Financial Conduct Authority.