Invera Equity Partners, a private equity fund management company, has finalised an investment in Metamorfoza, which has developed and managed an educational and entertainment concept called the ‘Museum of Illusions’, currently present in 20 countries.

Zagreb, July 22, 2021 – Invera Equity Partners (IEP), the management company of the equity fund, has finalised its investment in Metamorfoza d.o.o. (Croatia), including wholly (100%) owned subsidiaries in Hungary and the United States. The IEP thus acquired a majority (65%) stake in the company and has committed to increasing the company’s capital by EUR 3 million.

Metamorfoza has developed and currently manages an educational entertainment (‘edutainment’) concept called the Museum of Illusions (MI). This business model is based on an existing franchise and is present in 20 countries and 34 cities on 4 continents.

The concept of MI was developed by the founders and current shareholders of the company, Mr. Tomislav Pamuković and Mr. Roko Živković, who launched it for the first time in June 2015 in Zagreb. Their initial concept presented was a great success from the very beginning. Prompted by the initial success of Zagreb’s MI, the company soon began to expand its business around the world. Over the years, the company’s rapid growth has resulted in a presence in 20 different countries, with 34 franchises appearing in major cities around the world – following the example of Zagreb, the MI has expanded to New York, Paris, Toronto, Vienna, Dubai, Shanghai, and many other cities, where it achieved equal popularity and success.

Each MI is filled with attractions such as optical illusions, bottomless abysses, and unusual rooms that provide visitors with an interactive visual, sensory, and educational experience: ‘MIs have an educational component because each illusion is ultimately explained, and visitors are introduced to the details behind the illusions, as well as the way the illusion works or the way it deceives our minds.’

The company focuses on the so-called “edutainment” market share (a combination of education and entertainment). As a result, it has managed to capture the market of different age groups among both locals and tourists (either domestic or foreign).

Metamorfoza has proven to be global in terms of the management and development of the franchise network, with the possibility of attracting new franchise partners mostly due to the very attractive returns on investment.

IEP will continue to develop Metamorfoza and strengthen its partnership with the company’s founders. The company is focused on further expansion around the world, primarily through franchising but also by turning it into a business model in which Metamorfoza would open and manage museums in all major cities around the world.

‘We are pleased to announce the first investment of the Invera Private Equity Fund, which took place on the first anniversary of the start of our business. Metamorfoza d.o.o. and their originally Croatian “edutainment” concept of the MI is globally competitive in the entertainment sector, more precisely in the mid-way entertainment market. The middle segment in the entertainment sector is defined as an attraction in which the customer retention time does not exceed two hours. Prior to the COVID-19 pandemic, it was this market share that recorded the highest growth rates, and it proved to be the most resilient segment of the entertainment industry during the pandemic months. Although a relatively young company, Metamorphosis has managed to leave a mark globally with its MI concept, currently managing its franchise network across Europe, North America, Asia, and Africa. In partnership with the founders (Roko and Tomislav), Invera will strive to further accelerate and facilitate the global spread of the MI concept. Follow us,’ said Slaven Kordic, IEP executive partner.

‘Creating a new idea and turning it into a marketable product is in itself a great success. Creating a new idea and turning it into a globally recognisable brand that spans 4 continents and more than 20 countries within 6 years of existence is something truly remarkable. Evidently, a unique combination of creativity, vision, and perseverance of the founders was needed to bring Metamorfoza to this level. We are proud that Roko and Tomislav have given us their trust and joined us at this stage, and we are happy to have the opportunity to participate in the development of this truly great and innovative Croatian “edutainment” concept into a truly global company. We are looking forward to the very exciting years ahead,’ said Kemal Sikirić, IEP Executive Partner.

‘It is great to witness the success of companies from our regions that are expanding their business at the European and even global level, which is the case with Metamorfoza. Hats off to Tomislav and Roko! I am convinced that together we can achieve further growth, development, and expansion of the company. In addition, I am proud of our team, which concluded the first job in the first year of our business,’ said Janez Škrubej, IEP partner.

‘We are thrilled with the new partnership and believe that this is a great way for the MI concept to grow and continue to be a global leader in the edutainment segment,’ said Tomislav Pamuković and Roko Živković, founders and executive directors of Metamorfoza.

The investment in Metamorfoza is the first transaction financed by the Invera Private Equity Fund and is supported by the European Investment Fund, the European Bank for Reconstruction and Development, Raiffeisen Mandatory Pension Fund, Erste Blue Mandatory and Voluntary Pension Fund, Decommissioning Financing Fund (NEK), and PBZ CO Mandatory pension fund insurance.

All additional information about this phenomenon of illusions that has conquered the world can be found on the museum’s official website: