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Buran Venture Capital becomes Flashpoint and launches a venture debt fund dedicated to tech startups in   CEE, worth 50 million euros

Buran Venture Capital becomes Flashpoint and launches a venture debt fund dedicated to tech startups in CEE, worth 50 million euros

Flashpoint is the new name of Buran Venture Capital, the leading financial group offering equity and debt financing solutions for software companies.

After rebranding, the company also announced the launch of a new product, a Venture Debt fund dedicated to tech startups in Central and Eastern Europe and Israel with a target value of 50 million euros. Venture Debt is a term loan with the role of helping startups to fund their operations and access expertise without diluting existing shareholders' equity.

"Our business has expanded significantly over the past few years and we have realized that our vision is to develop a top multi-asset investment and asset management business dedicated to Central and Eastern Europe and Israel and not just a fund venture capital, "said Alexander Konoplyasty, Managing Partner Flashpoint.

"We have searched for a new name that reflects our vision of development and at the same time resonates with our company DNA and our core values ​​that we promote. Flashpoint is the smallest temperature at which a material's vapor ignites. We believe that we also create an ignition point by providing the startup capital and expertise in which we invest, "added Michael Szalontay, Managing Partner Flashpoint.

Venture Debt Launch is part of the Flashpoint strategy of building a multi-product investment platform that invests in software startups in Central and Eastern Europe and Israel. Michal Jozwiak, senior Senior Vice President for Private Debt, mezzanine and private equity in the Central and Eastern Europe team of Darby Private Equity (Franklin Templeton Investments), will be Managing Partner of Flashpoint Venture Debt.

"We are delighted to be the first to launch a CEE venture capital fund with a target of 50 million euros, giving technology companies an alternative option to finance their growth," said Jozwiak.

Finally, Flashpoint announced that Edward Nicholson will join the group as General Partner and Chairman of the Advisory Board of Flashpoint. Edward was the executive director and chairman of Brunswick Investment Bank, acquired by UBS, with a decisive involvement in the development of the company and helping it to become one of the top finance businesses in Eastern Europe.

Nicholson said: "I am very pleased to join this talented team, which has actively provided funding and early stage expertise to a market that has not been approached, but with many technology developers who are developing international software companies."

With the announcement of its new brand, the strategic move to expand its offer beyond equity financing and the strengthening of its executive team, Flashpoint strengthens its position as the top financial group in the Central and Eastern Europe technology sector and Israel.

In June, the Flashpoint Fund will be present at Techsylvania, the technology event to be held in Cluj-Napoca between June 8th and 11th, 2019, also participating in the training program for the teams selected for the Startup Avalanche competition, which offers an investment award 100,000 euros to the most promising startup early stage.