Axon Partners Group has been awarded “Best Deal in Late Stage Venture Capital” for its participation in Akamon, a social and entertainment gaming company. This recognition has been granted by the Spanish Venture Capital and Private Equity Association (ASCRI), Deloitte and IESE Business School under the framework of Private Capital in Spain Awards, which recognizes those companies that have made successful divestments between April 2015 and March 2016. The award was collected by Francisco Velazquez de Cuellar, CEO and Managing Partner of Axon; Alfonso de Leon, Managing Partner of Axon; and Carlos Blanco, former CEO of Akamon Entertaiment.
“We are delighted to receive this award, which actually is the second in three years. This a proof of Axon’s systematic and prudent work in which results work when strategies are defined with common sense and not letting be driven by fads or trends. In Akamon, Axon did an excellent job as founders and businessmen in charge have witnessed. The company was transformed, we worked at board level seeking the best for shareholders, there were complicated times and momments of tension, but they were overcome, and the result was very good for shareholders. In addition, the company grew a lot in employment, internationalization, in presence and results, obtaining a very high gross profit in a very short time, which is also an example of sustainable business growth” Francisco Velázquez said when receiving the award.
Between 2012 and 2013 Axon Capital and Investments SGEIC invested in Akamon through its Axon ICT Fund I FCR. In 2014, a third round of investment was held.
Since the initial investment, Axon was very active in the company, supporting not only from the Board but from the Steering Committees, introducing many substantive changes that were essential to the success of the transaction: employment and turnover growth, internationalization, restructuring, modernization of technological platform and sales process.
Akamon was sold to a strategic investor in November 2015. The operation IRR was 55%, with a multiple of 3.1x. The total transaction value reached approximately 28 million euros.
Akamon Entertainment, was founded in 2008, and it is one of the leading social gaming and entertainment companies in Latin America and Southern Europe. Specialized in synchronous multiplatform games, it has a repertoire of over 41 traditional games for portals, mobile and social networks like Facebook.