MCI invested in Invia Group, a travel company operating in Central and Eastern Europe, in 2001. Over time, Invia expanded through acquisitions into additional markets like Hungary, Czech Republic, and Slovakia. By 2015, Invia had become the #1 player in the e-travel market in Central and Eastern Europe, with a 60% market share in Czech Republic and Slovakia. In 2016, MCI fully exited its investment in Invia, realizing a total return of EUR 69.3 million, representing an 11x return on its primary investment with an internal rate of return of 46%.

1. MCI RECORD EXIT – INVIA group CASE STUDY
MCI.Techventures, fund managed
by Private Equity Managers, sold its shares in INVIA.
2008
MCI investment in Invia Group
2001 – Travelplanet founded in Poland – MCI investment
2002 – Invia founded in Czech Republic
2008 – MCI INVESTS IN INVIA
2008 – INVIA’S EXPANSION INTO HUNGARIAN MARKET
2009 – M&As: NETTRAVEL (CZ) AND LASTMINUTE (SK)
2011 – Invia acquires Travelplanet
2016 – MCI exits 100% Invia
market position
#1 player
in e-travel in CEE
60% of market share
in Czech Republic & Slovakia
GBV OVER EUR 250M IN 2015
GBV – Gross Booking Value
MCI.Techventures Fund investment strategy:
1
1
1
1
pln 326m
(eur 76 m) invia's
valuation at exit
11x
return on primary
investment irr
46%
Invia Group is a leader of e-travel market in the CEE
region (Poland, Czech, Slovakia and Hungary),
offering travel packages, airtickets and hotels
and cooperating with over 350 tour operators.
2
pln +57m
EUR 13,3M
Partial EXITS
pln +241m
EUR 56M
full exit
pln +298m
EUR 69,3M
MCI’s total revenue
from exit
pln -35m
eur 8,1m
secondary investment
pln -16m
EUR 3,7M
primary investment
Marketplaces fintech
bigdata etravel
investment ticket
eur 10-25m
2016
MCI, established in 1999, is one of the most dynamic private equity groups in Emerging
Europe. MCI invests at early stage, growth stage and expansion/buyout stage technology
companies in Poland/CEE region, Western Europe, Baltic countries, Russia and Turkey