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Baytech Venture Capital leads a € 7.3 million Series A investment round in Private Outlet

Paris, Munich, September 23, 2008 - Private Outlet, the European private online shopping club for designer apparels, announced today that it has secured 7.3 million euros in a first round funding lead by the Munich-based Venture firm BayTech Venture Capital. The management team, Kreos Capital and GP Bullhoud Sidecar have also participated in the transaction.

Launched in 2007 in France, Germany, the UK, Spain and Italy, the website has already secured a network of 1 million private members. The proceeds of the funding will be used to accelerate the growth of the member base, while further strengthening the management team’s extensive ties with designer brands.

With its relations to more than 150 luxury clothing brands and its resolutely European oriented vision, Private Outlet has the ability to deliver the best brands to a closed circle of private members at up to 70% discount off list prices, while managing brands’ inventory and image, in a unique win-win-win manner.

Jude S. Ngu’Ewodo, General Partner at BayTech Capital who will join Private Outlet’s Board of Directors following this operation, commented on the deal:
'We are delighted to be part of the Private Outlet story. We believe they are in a unique position in this exciting market, having extensive relationships with the key clothing brands, an innovative pan European infrastructure, a network of 1m private members and the ability to offer up to 70% off the list price. This financing will enable the management team to build a world-class business.”

Commenting on BayTech as the lead investor, Cyril Andrino, CEO of Private Outlet, said:
“It was important for us to work with a pan European VC fund like BayTech Venture Capital, with a strong experience in marketing and building companies in similar fields. Also the fit with Jude Ngu’Ewodo has been good from the beginning and it is crucial to install a good working climate from start when embarking on an ambitious journey like ours.”

About BayTech Venture Capital
BayTech Venture Capital is a leading European Venture Capital firm with the ambition to help the best entrepreneurs build the most successful companies in their fields of expertise. BayTech invests at an early and development phase in technology and life sciences companies in Western Europe. Its contribution to success in the growth phase of these companies is not limited to capital. The money provided goes along with the experience in company building, the industry expertise of its investment professionals, and access to the worldwide network and the respect for the contribution of the entrepreneurs.

For further information:

BayTech Venture Capital
Jude Ngu’Ewodo
General Partner
Theatiner Str. 7
80333 Munich, Germany
Tel: +49 89 387 009 0

Publisher Contact Information:

BayTech Venture Capital
+49 89 387 009 0

Company profile of BayTech Venture Capital
Past press releases of BayTech Venture Capital.


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