Heliad Equity Partners

XETRA: HPBK

Market Cap€59m

Last Close €5.24

Heliad Equity Partners aims to invest in market-leading private companies and skilled entrepreneurs across sectors and regions to power their next phase of growth and act as a gateway to public equity markets by leveraging its experienced team and strategic partners.

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Investment summary

Heliad Equity Partners (HEP) posted a 35% decrease in net asset value (NAV) per share during Q222, driven mostly by the 51% stock price decrease of flatexDEGIRO (FTK) (alongside the sell-off across listed online brokers), which now makes up roughly half of HEP’s portfolio. Meanwhile, revaluation of private holdings had a minor impact on HEP’s NAV, with only FINN and Klarna closing new funding rounds in Q222. We note that HEP’s management expects the weighted average revenue of its new investments since 2021 to grow 3.6x in 2022 vs the prior year. Management also highlighted that advanced talks on new funding rounds of some holdings may bring HEP’s NAV per share to c €10 (up c 20% from end-June 2022), while the current HEP share price is c 53% lower.

Content on Heliad Equity Partners
Heliad Equity Partners – NAV affected by flatexDEGIRO’s de-rating
Investment companies | research Update | 14 October 2022
Building 21
Heliad Equity Partners – A high-tech growth investor from Germany
Investment companies | research Initiation | 11 July 2022
Building 21
Heliad Equity Partners – New investments under new management
Investment companies | research QuickView | 29 October 2021
Building 21
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Sector
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Share price graph
Price performance
%
1m
3m
12m
Actual 3.2 (14.7) (52.1)
Relative* (5.0) (23.9) (49.8)
52-week high/low €11.2/€4.6
*% relative to local index
Key management
Falk Schäfers CEO