3TS invests EUR 4mln into Avangate

Newsroom 09/03/2011 | 13:40

3TS Capital Partners has invested, via the Fund for Technology in Central and Eastern Europe S.C.A. SICAR (also known as 3TS Cisco Growth Fund), a sum of EUR 4 million into Avangate, and has thus become minor shareholder in the company.

The money will become available to Avangate over the next 6 months. This investment will be used by Avangate to consolidate its global presence and pursue the strategy it established for this year.

“We are delighted with the investment that the fund 3TS Cisco has placed in Avangate. The company is oriented towards development and growth, and the new capital will be destined mainly to expanding operations in North America and Europe, as well as developing new technologies meant to support our continually growing customer basis. The expertise of the investment fund into supporting our business in the technology domain in Europe will undoubtedly help the company a great deal,” said Carmen Sebe, CEO Avangate.

3TS Capital Partners has offices in Central and Eastern Europe, more precisely in Budapest, Bucharest, Prague, Vienna, and Warsaw. The company targets investments in developing sectors such as Consumers& Services, Media& Marketing, Technology& Telecom, Energy&Environment.

Otilia Haraga