Company Holdings
As the world’s leading digital specialist retailer for bicycles, Internetstores Group gets more people on bikes than anyone else. Well-known platforms such as fahrrad.de, Bikester, Probikeshop, Campz and Addnature carry over 130,000 products and 1,300 brands.
Rene Marius Köhler founded the company in 2003 and ran it as CEO until 2016. He sold the majority stake to SIGNA, but still holds a minority stake in the company.
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Leading digital specialist retailer for Bike & Outdoor
Internetstores has more than 40 online shops in 15 countries. The goods are shipped directly to the customer from six international logistics centres. The range includes brands such as Votec, Fixie Inc., Ortler and Serious, which are marketed exclusively and have won awards. This extensive range is complemented by stores in Germany, Sweden and France, as well as a growing service network of mobile and local partners.
In 2017, the KOEHLER GROUP together with Philipp Schlüren founded the JetApp GmbH, a digital booking platform for private jets. JetApp has set itself the goal of being the only private jet booking platform that offers instant and fully digitized booking and single-session payment processes. Driven by strong sales growth averaging over 50% annually and a successfully implemented internationalization strategy in 7 European countries, the company managed to break even in the third year after it was founded. As of 2020, JetApp was also able to continue achieving this revenue growth despite the Corona crisis.
The market potential
The global market for private flights is large ($ 13 billion) but extremely fragmented. It is characterized by many small and local flight agents who only offer a limited number of aircrafts and airlines. In addition, they have little digital skills, because compared to commercial flight brokerage, booking a private jet is still an archaic customer experience. In a non-digitized booking process, the booking and payment of a private jet takes place via a number of contact points via email and telephone and is extremely time-consuming. The market for private flights is therefore one of the few remaining markets for travel verticals that still have to be digitized as well as transferred to e-commerce and, at the same time, has many times larger shopping cart sizes. This results in the attractive combination of creating a marketplace and thus an e-commerce platform that establishes a fully digital link between all private aviation market participants.
Further direct Company Holdings
Revolut
Revolut was founded in 2015 and is headquartered in London. Over the course of just four years, it has developed into one of Europe’s leading fintech start-ups. More than 8 million clients already hold an account with Revolut, and around 20,000 new accounts are opened every day. Revolut’s products are an alternative to traditional banks and appeal to clients thanks to their digital-first approach.
Revolut was valued at around USD 5.5 billion when the KOEHLER GROUP invested. The company valuation was USD 33 billion in the 2021 financing round, which was led by SoftBank and Tiger Global Management.
The KOEHLER GROUP invested in the company in 2020 and is supporting its future growth and expansion.
Moonfare
Moonfare is a technology platform via which private persons and their advisors gain access to the TOP private equity funds and can invest in them online, in a completely straightforward manner.
In the past, this was reserved for institutional investors and only a few private individuals, due to the minimum investment amounts per fund, usually of several million euros. Due to the more than twice as high average returns compared to the stock market (Global PE Index Top Quartile vs. S & P 500) over the past 10, 15 and also 20 years, there is a huge, largely unsatisfied demand from private investors to invest in the TOP PE funds.
Over 13,000 users are currently active at Moonfare and have already invested more than 1 billion euros in these TOP private equity funds via the platform. The KOEHLER GROUP has been a founding investor in Moonfare since 2017.
GoTo Group
The GoTo Group is the largest technology group in Southeast Asia. The company combines the business segments of e-commerce, on-demand and financial services with the brands Gojek, Tokopedia and GoTo Financial and has successfully launched the first platform in Southeast Asia that unites these three segments in one ecosystem.
The GoTo Group was created from a merger of Gojek and Tokopedia in 2021. The group was able to record 1.8 billion transactions in 2020 and has an ecosystem that accounts for 2% of Indonesia’s gross domestic product.
KOEHLER GROUP invested in Gojek at a valuation of $10 billion in 2019 and became a shareholder in GoTo as a result of the merger. The GoTo Group launched its IPO on 11 April 2022, with a company valuation of around USD 28 billion.
Boxine / Tonies & Toniebox
tonies SE has been developing and marketing the Tonies and the Toniebox since 2016. It is an audio system for children between the ages of three and ten. The system consists of an audio player, the Toniebox and the matching figurines for it, the Tonies, as well as an audio library. This new way to play audio makes audio content tangible for children, thereby creating a completely new audio experience.
The company has already won numerous awards, such as the German Founders Prize 2019 in the category of young entrepreneurs. As of December 2021, more than 2.4 million Tonie boxes and over 25 million Tonies had already been sold.
Together with the lead investor Armira, the KOEHLER GROUP invested in Boxine GmbH in 2019. In November 2021, Boxine GmbH merged with the Luxembourgish Special Purpose Acquisition Company 468 SPAC I SE. Since 29 November 2021, the merged company has been listed as tonies SE (ticker: TNIE) on the Frankfurt Stock Exchange.
Zapp
Zapp is a delivery app that delivers ordered products to its customers within minutes. The range includes thousands of items such as drinks, snacks, fresh food, ice cream, pharmacy products, baby and pet supplies. The company operates local Zappstores, which keep the products in stock and drivers deliver them from there straight to customers’ doors as a 24/7 service. Sustainability is a very important focus for this company, which relies on an exclusively electric fleet and delivers orders in recyclable paper bags.
The KOEHLER GROUP invested in the company in 2022 in Series B. Co-investors include Formula 1 star Lewis Hamilton.
Perfect Day
Perfect Day is a biotech company from Silicon Valley. It has developed a fermentation process for the manufacture of animal-free protein identical to that found in real cow’s milk. This process is used to produce animal-free milk products, both by the company independently and in partnership with leading food companies.
The company was founded by Forbes Prize-winners Ryan Pandya and Perumal Gandhi, and is seen as a market leader in its field. In March 2021 it was named one of Fast Company’s “Most Innovative Companies”.
The KOEHLER GROUP invested in the company in 2021 and is helping to further its growth.
7 GLOBAL CAPITAL
The private equity fund 7 GLOBAL CAPITAL invests in technology companies around the world. 7 GLOBAL CAPITAL focuses on young, growing tech companies, primarily in the European and US markets. 7 GLOBAL CAPITAL offers its backing to innovative ideas and unique products, coupled with secure corporate structures and financial strength. The fund also actively encourages US companies to expand into the European market. In 2018, 7 GLOBAL CAPITAL won the prestigious “Rising Star” award as the best European venture capital fund at the “Private Equity Exchange & Awards” in Paris.
The KOEHLER GROUP has been a “general partner” in 7 GLOBAL CAPITAL since 2017, via the joint holding company SP Global Capital.
Seven Senders
Seven Senders develops a B2B solution for parcel shipping for online stores. The service enables online stores to deliver more cheaply to other European countries; currently, over 50 countries and more than 100 carriers are connected. Since March 2020, the company has doubled its revenue and achieved 100 million euros in annual sales. In 2021, a Series C financing of 32 million euros took place, which will be used for further technical expansion as well as the continuation of the internationalization strategy.
KOEHLER Capital Partners GmbH acquired a minority stake in the company together with btov partners in 2017 and supports the founders in the further expansion of the company.
Jakt.se, Fiske.se & Hund.se
Norrländska Vapenaffären Aktiebolag operates three online shops in Sweden (Jakt.se, Fiske.se and Hund.se), as well as an affiliated brick-and-mortar specialist shop in Sundvall. They sell hunting equipment, fishing paraphernalia and dog accessories.
The owners are highly experienced internet entrepreneurs (with addnature.com and apotea.se, among other sites). KOEHLER Capital Partners GmbH acquired a significant minority stake in the company in 2017 and is supporting the existing team with the company’s further development.
Trendcarpet, Hatshop and Bread & Boxers
Online Brands Nordic AB (formerly Cama Gruppen AB) operates the online shops Trendcarpet, Hatshop and Bread & Boxers in Scandinavia, Germany, England, France, Belgium, Holland and Switzerland. It sells a wide range of value-for-money textiles.
KOEHLER Capital Partners GmbH acquired a significant minority stake in the company in 2016 and has supported the management team in the further development of the company. The company has been listed on Nasdaq Nordic since June 2021.
Investments via private equity funds
Since 2016, the KOEHLER GROUP has been investing in private equity funds offered by well-known providers. The KOEHLER GROUP uses this investment capital to support outstanding privately owned companies as they grow and develop into market-leading global corporations.
Exits
The KOEHLER GROUP was able to support the following companies after the investment up to a successful exit.
