The vc firm achieved a 6x return on its overall investment plus generating an IRR of 275% and realized a 17.8x return on the cost of its initial investment (in February 2014).
Conceived by brothers Michael and Kenny Bruce, Purplebricks allows home-owners to sell their properties for a flat fee, compared to an average sum paid to estate agents of more than £5k based on the typical commission of 1.8% of a property’s value. It also provides a service to landlords, offering a tenant-finding service for a one-off fee.
The company is currently trading over 35% up on its IPO price.
Led by Nenad Marovac, Founder & Managing Partner, DN Capital is a global early stage and growth capital investor in SaaS/Enterprise software, marketplace, fintech, mobile first, digital media and e-commerce companies with operations in London, Berlin and Palo Alto.
Portfolio companies include Shazam, Auto 1, Endeca, Apsmart, Datanomic, Quandoo, Mister Spex, OLX, Performance Horizon Group, Purplebricks and windeln.de. The professionals at DN Capital bring over 60 years of private equity experience to their investments, and actively work with portfolio companies to steward their growth through the various stages of development.