In the podcast SoMoCast, Slaven Kordić, an executive partner at Invera Equity Partners (IEP), a private equity fund management company, discusses how the Museum of Illusions became a global hit, how Kompare will continue to develop, and the role of private equity funds in the markets of Croatia and the region.
Slaven Kordić explained why companies seek the assistance of private equity funds and the significance of their role throughout the process: ‘The team is the key. Whom you work with and why is of the utmost importance; we are all entrepreneurs. In addition to capital, we provide a lot in the context of strategy, corporate finance, and organisations, i.e., employment. We have a network of experts who work together to improve business.’
Invera Private Equity Fund C.V., a private equity fund based in the Netherlands and managed by IEP, made an investment in the popular Museum of Illusions to expand its business and increase its profits. The Museum of Illusions is now a global museum franchise.
‘When we bought the museum, it was a franchise, which means that a part of the revenue from each partner ticket sold also goes to them. We decided to open our own museums in much better locations (London, Las Vegas, etc.) and intensified the development of new exhibits. We now have approximately 37 museums in the world, and 50 to 60% of the income comes from America, which is becoming the primary market,’ said Slaven Kordić.
Zagreb is a global service centre; all research and development is done in Zagreb and then sold to partners and museums. The Museum of Illusions is currently the largest private museum chain in the world, and Slaven makes no secret of the fact that they have no intention of stopping there.
Kordić also revealed more about the Croatian investment market, which has been gaining momentum in recent years under the auspices of the European Investment Fund, adding that it now has the most available funds in history.
‘The main drivers of this market are actually older companies that no one wants to take over. We have many examples of companies founded in the 1990s whose founders are nearing the end of their careers and now have the opportunity to sell the company because their children do not want to deal with the family business,’ concluded the managing partner of Invera Equity Partners.
The full interview can be found below: