Black Pearls VC announces an exit from Telemedi, telehealth startup

In an exhilarating development within the venture capital landscape, Black Pearls VC has recently triumphed with a lucrative exit from Telemedi, transferring its stake to Mavie.

This transaction signifies the third triumphant exit for Black Pearls VC this year and underscores the firm’s strategic foresight in nurturing startups. Mavie, an esteemed healthcare entity headquartered in Austria, has acquired a substantial stake in Telemedi, paving the way for a complete divestment by Black Pearls VC. This alliance heralds a future filled with strategic synergies, with Mavie set to infuse Telemedi with strategic guidance and support.

Telemedi, a leading telehealth provider, has carved out a significant presence in the telemedical sphere of Central and Eastern Europe. Black Pearls VC’s journey with Telemedi commenced at the nascent stage of the company’s growth, with the venture capital firm leading the initial pre-seed round. This pivotal move marked Black Pearls VC as Telemedi’s inaugural VC investor.

The ensuing years saw Black Pearls VC deeply involved in Telemedi’s upward trajectory – from the nascent pre-seed phase through a formidable €5.5M Series A round to the pinnacle of capital efficiency and a successful exit. As a major shareholder, Black Pearls VC provided unwavering support to Telemedi, aiding in strategic decisions and daily operational challenges aimed at maximizing value for stakeholders and clientele.

The role of telemedicine in Poland’s healthcare system is monumental, with a staggering 80% of the population relying on such services. Black Pearls VC’s foray into this domain dates back to 2014, and its journey has been marked by significant growth and deep patient-centric insights.

Annually, the firm handles an impressive half a million medical inquiries and serves over 300,000 patients. Its partnerships span major Polish insurance companies and public sector entities. The collaboration with Mavie is poised to bolster Telemedi’s foundation, expand its service offerings, and export its expertise to new markets.

Paweł Sieczkiewicz, the visionary CEO of Telemedi, lauds the instrumental role of Black Pearls VC, particularly highlighting Aleksander’s critical support in offering new perspectives and challenging ideas. This supportive dynamic, coupled with a deep trust in Paweł’s leadership, has been a cornerstone of Telemedi’s success.

Mavie’s Managing Directors, Erich Kruschitz and Lukas Mayrl, articulate a noble mission: to champion people’s health through all life stages, offering preventative and rehabilitative services. They recognize Telemedi’s pivotal role in the digital healthcare landscape and envision a future where Telemedi’s offerings are enhanced and extended beyond Polish borders.

The amalgamation of Mavie’s resources and Telemedi’s expertise is set to usher in a new era of accessible healthcare in Central and Eastern Europe. The goal is a holistic expansion of service portfolios and market outreach.

Through its strategic and high-conviction investment philosophy, Black Pearls VC has achieved a remarkable 15.2x Cash on Cash return on its initial Telemedi investment, with an overall return of 3.5x, including follow-on investments. This success story has enabled the firm to provide substantial liquidity to its Limited Partners in challenging economic times.

Aleksander Dobrzyniecki, the Partner at Black Pearls VC responsible for the Telemedi deal, has been a pivotal figure in this journey, collaborating closely with Paweł Sieczkiewicz since 2019 and recently serving as Chairman of the company’s Board of Directors. Under their collective leadership, Telemedi has ascended to market dominance, propelled by a relentless drive and strategic execution.

This successful exit from Telemedi adds to Black Pearls VC’s impressive track record of positive returns, including notable exits from Skyrise.tech, Nordigen, Nomi Biotech Corporation, and Solwit. As the chapter with Telemedi concludes, Black Pearls VC extends its best wishes to Mavie and Telemedi’s team, confident in the value this partnership will generate across Central and Eastern Europe and beyond.

Black Pearls VC’s investments in Telemedi were fueled by a diverse array of funding vehicles, and the firm extends its heartfelt gratitude to its individual and institutional Limited Partners, including FNP Ventures, Kozminski Business Hub, Bank Gospodarstwa Krajowego (supported by RPO Western Pomeranian Voivodeship), and the National Research and Development Center, for their unwavering trust and support throughout this journey.