QC·Ventures

Q·CAPITAL holds venture capital investments via QC·VENTURES and it‘s sub-SPV‘s. QC·VENTURES is an investment pool of a few experienced partners who co-operate and share ressources and dealflow. QC·VENTURES mainly invests in later stage companies while QCV Diversified holds a selection of smaller tech-oriented early stage investments. The company provides administration services at cost.

Q·CAPITAL was one of the founding partners of Q-Capital Ventures GmbH & Co KG in the area of venture capital in 2015. The founding partners are Q-Capital AG, Q-Advisers GmbH and partners.

Informica Real Invest AG

In October 2010, Q·CAPITAL participated in the acquisition of a strategic 83% stake in informica real invest AG, a company holding a portfolio of 28 almost fully rented out commercial (1/3) and residential (2/3) properties in the centres of various major German cities. The company was taken over by a consortium of Austrian investors (with the right to 3 supervisory board seats) who seek to unlock value by streamlining the portfolio. The consortium purchased the stake from a distressed investor. Over the years the portfolio was down-sized and a significant portion of capital returned back to the shareholders. Q·CAPITAL holds directly over 15% of the shares outstanding. Currently the company holds 15 properties comprising of 445 units (368 residential + 77 commercial) with a total area of over 40,500 m² yielding a solid 6,6%. We still believe the NAV has potential to grow and maintain our position size.

Prenzlauer Gotlandstraße GmbH

In April 2013, Q·CAPITAL invested into Prenzlauer Gotlandstrasse GmbH, real estate development project in Berlin. The development project comprises of 11,700 m² residential and 1,725 m² commercial space alongside 110 parking spaces. Q·CAPITAL holds an 11.25% stake in the project and also funded the development with EUR 1m loan at 5.65% secured with the charge on the land (i.e. “Grundschuld”).

Due to its economic stability, Germany remains an attractive location for real estate investment and will continue to attract foreign investors. According to Ernst & Young Real Estate Market Trend Barometer, Berlin is the most attractive city in Germany for residential real estate investment. The court case giving the company access to the land at 2009 prices has been won and construction is due to fully finish in early 2019. More than 90% of the 136 flats have been sold or legally contracted.

We expect a full exit from the position by the end of H1 2019. The loan has already been fully repaid.

ATAI Life Sciences AG

ATAI is a global leading biotech company investing in and acquiring therapeutics focusing on longevity and mental wellbeing. The company’s vision is to cure mental health disorders, enabling people to live healthier and happier lives.

ATAI takes a decentralized and big data platform for innovation accelerating mental healthcare solutions. Their companies are COMPASS Pathways, Perception Neuroscience, DemeRx, Innoplexus, GABA Therapeutics, EntheogeniX Biosciences, Neuronasal.

Q Capital AG has been involved in the company since its initial Series A issue in September 2018 and increased its investment via Series B (Feb 2019) as well as Convertible note (Jan 2020) followed by Series C (Oct 2020).

The company celebrated its NASDAQ debut in June 2021, successfully raising USD 225m at market valuation of USD 2.3bn. The IPO was priced at top end of the price range (USD 15 per share).

UCP Chemicals AG

In 2009 Q·CAPITAL invested in UCP Chemicals, one of the leading players in Russia’s chemical industry and is pursuing a dynamic growth strategy. UCP Chemicals offers attractive growth opportunities based on the expansion of its leading market position for synthetic resins, ongoing product innovations and the penetration of new markets. The company has come a long way and its financial situation has been steadily improving over the years reaching solid double digit EBITDA margin levels.

Q·CAPITAL holds a 7.2% stake in the company and enjoyed a stable dividend flow over the years. We also hold a supervisory board seat and consider the company one of the core holdings within the portfolio.

Do & Co (exited)

DO & CO is a branded premium food catering and global, full-service hospitality provider company, putting fresh, high-quality cooking at the heart of its differentiated offering to airlines, sports VIP, corporate events and the private consumer. The company holds 31 gourmet kitchens worldwide servicing 114m passenger on 680 thousand flights for over 60 customers. The company also recently announced the renewal for 15 years of its contract with Turkish Airlines, which was due to expire year end 2018. Starting April 2020, an annual estimated incremental revenue impact of EUR 240m (+28% vs. 2017/18), and an annual estimated EUR 19mn EBIT impact are expected (+37% vs. 2017/2018).

Q·CAPITAL has held a relatively sizable position in the company since nearly a decade. We believe the company is remains attractively valued given its solid business model and sound balance sheet.

C-Quadrat Investment AG (exited)

C-Quadrat Investment AG is one of Austria’s largest independent investment companies offering asset and fund-management, analysis and structured products. C-Quadrat operating across Europe and is active particularly in Austria and Germany. The company currently manages over EUR 9.2bn in Absolute and Total Return strategies. It was floated in November 2006 on the Frankfurt Stock Exchange in addition to the listing on the Vienna Stock Exchange. The company was recently sold to the Chinese conglomerate HNA.

Q·CAPITAL acted with the core shareholders selling consortium and exited its position in full having more than quadrupled its initial investment in the firm.