Case studies of club deals successfully done
For the launch of the ERIC Opportunity Club, we selected two of the most promising portfolio companies in the PT1 fund family which outgrew the early-stage.
Wunderflats is a technology-based platform for temporary furnished living. The company has a growing presence in Europe and currently operates in Germany, Austria and France. Wunderflats combines technology, data analytics and a deep understanding of customer needs to deliver a high-quality rental experience to both tenants and landlords. The European market for medium-term leases is growing rapidly and has significant further potential, driven in particular by the international flexibilisation of office culture. According to recent data, the market is estimated to be worth over €50 billion, with an annual growth rate of 10-15%. Wunderflats operates at the heart of this market and is well positioned to expand its strong position in Germany across Europe.
PT1 has been a shareholder since the early stages, has corresponding legal insider knowledge, has invested up to the allocation limit in the current financing round and was therefore able to pass on subscription rights to the ERIC Opportunity Club.
„I know and appreciate club deals from the real estate sector. It is very pleasing that the team at ERIC has now taken on the professionalisation of PropTech club deals.“
— Georg Czerny, Managing Director @ CZERNY Immobilien
ecoworks has developed a digital end-to-end platform for the serial renovation of existing properties. This innovative approach unlocks a massive opportunity in a huge market. The renovation market in Europe is expected to reach a total investment volume of €769 billion per year, driven by rising energy costs and EU regulations. In Germany, 3.4 million residential units in multi-storey buildings will need to be renovated in the next 5-7 years, which represents a great opportunity for ecoworks‘ serial renovation approach.
The ERIC Opportunity Club was able to make use of subscription rights, which PT1 was not able to execute, giving our club investors access to a EUR 22 million financing round with an international consortium of investors.