Truffle Venture, a French venture capital firm, has backed the management buyout of MoMac, a provider of mobile phone content platforms, for an undisclosed amount.
Truffle has taken a majority stake of between 70 percent and 80 percent, said Bernard-Louise Roques, co-founder and general partner at Truffle Venture, with management retaining “a significant share”.
Residex Ventures, a Dutch private equity firm, sold its minority stake to Truffle Venture. ABN AMRO was also a previous shareholder.
Roques said: “MoMac has developed a unique technology platform which enables it to address very efficiently a very rapidly expanding market. With strong market share in both the UK & the Netherlands, we believe the company is ideally positioned to become a European global leader of mobile content facilitation.”
Netherlands-based MoMac was founded in 2001 and provides a technology platform for the publication and distribution of media content on mobile devices. The company’s publishing platform, GoMedia, counts Condé Nast, a magazine publisher; ITV, a UK television broadcaster, and Hallmark, a cable channel, among its clients.
MoMac is Truffle Venture’s second portfolio company in the telecoms sector. The firm also owns Phone Systems & Network, a telecoms business.
Founded in 2002 in Paris, Truffle Venture targets the information technology, healthcare and energy sectors. The firm has €250 million under management.
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