Major shareholder announcements
Hansamatrix has attracted EUR 2 million investment from venture capital fund ZGI-4
Riga, 2019-08-14 08:10 CEST --
ZGI Capital, alternative investment fund manager, with venture capital fund ZGI-4 has invested EUR 2 million in HansaMatrix to enhance the company's growth and competitiveness. As a result of the transaction, ZGI-4 Fund has become a 15.06% shareholder of HansaMatrix.
The financing will support HansaMatrix’ ongoing growth strategy and the ongoing shift from manufacturing towards offering a full range of services, including value added design, engineering and aftermarket services. The investment of the ZGI-4 venture capital fund will be used to replenish working capital and purchase technological equipment.
HansaMatrix CEO Ilmārs Osmanis commented: “We are proud to attract ZGI Capital – reputable Latvian investor in our professional investor group. Received funding will be used to continue allready started investment program to develop HansaMatrix as a technological leader in the production of optical and electronic systems in the Baltic – Nordic region.”
Rudolfs Krese, Investment Director of ZGI Capital added: “We have closely followed Hansamatrix's development and are pleasantly surprised by its rapid growth, service quality and speed. We are pleased to invest in the company that have consistently implemented an investment programme and can continue to support further implementation of this business plan with our contribution. Regular investments in automation, modernisation and the development of manufacturing technologies have allowed Hansamatrix to become a true high-tech company. With this investment, we continue to pursue the growth capital fund's ZGI-4 strategy - with funding, the company will implement a development investment programme and continue to pursue the main goal of growing from a Baltic player to an internationally recognised leader on a global scale."
HansaMatrix is a fast-growing, high-technology company offering product design, industrialization and complete manufacturing services in data networking, Internet of Things, industrial segments and other services to high added value business segments. In addition to complete manufacturing services of OEM products, the company offers an ODM business model to both start-up and established companies that seek product development partnerships.
ZGI Capital is one of the most experienced venture capital fund managers in the Baltics and has been operating since 2005. Currently, ZGI Capital manages the fourth generation growth capital fund ZGI-4.
Additional information available in the documents (in Latvian language) attached.
Māris Macijevskis, CFA
Management Board Member, Finance director
Phone: (+371) 6780 0002