News
Xevin Investments invests in Ad-Vice, an online advertising network
On February 25, 2009 an investment agreement was signed in Warsaw, whereby the VC fund Xevin Investments acquired a majority stake in AD-Vice, an online advertising network.
As a result of the investment agreement, Xeving Investments acquired 76% of shares in Ad-Vice. The other shareholder is Ad-Vice’s founder and President of the Board of Directors, Bartosz Wieczorek.
“Talks about our investment in Ad-Vice took several months. During that time we managed to work out a mutually satisfying position”, says Krzysztof Golonka, President of the Board of Directors of Xevin Investments. “We have joint plans to introduce innovative online advertising services onto the Polish market, which requires considerable financial outlays. Our involvement in Ad-Vice will allow the company to greatly improve the quality of its products and consequently – to become more competitive on the Polish market of online advertising networks. We also count on effective collaboration between Ad-Vice and other companies in our portfolio: Cube Group, Autentika, and 8fish.”
“Ad-vice’s development strategy for 2009 presumes dynamic diversification of advertising products, which will benefit both the websites in our network and advertisers. The investor’s support will help us achieve this ambitious goal, especially that I do not perceive Xevin Investments as a purely financial investor. I also count on the fund’s know-how and experience in developing companies on the online advertising market. Ad-Vice will present the market with a new offer”, adds Bartosz Wieczorek, President of the board of Directors of Ad-Vice.
During its 9-month history Xevin Investments has invested in five companies in the new technologies sector. Ad-vice is the fund’s 6th investment.