Stockholm-based venture capital firm Flat Capital invests around 1.8 million euros in Discord, the well-known online communication platform backed by some leading investors including Dragoneer Investment Group. The Swedish company has 17 companies in its portfolio where the largest holdings are Klarna, Budbee, and Truecaller. The shares bought from some existing owners of the company may not make a difference in Swedish VC’s current value directly. Yet, the firm is still excited about this recent transaction.
Flat Capital invests SEK 19 million in Discord
Flat Capital AB invests approximately SEK 19 million (around 1.8 million euros) in Discord Inc. by purchasing an item of existing shares. The company is backed by a number of recognized investors, including Dragoneer Investment Group. The transaction is not expected to have a significant direct effect on Flat Capital’s net asset value compared to the most recently reported net asset value as of December 31, 2021.
Sebastian Siemiatkowski, Chairman of the Board of Flat Capital states “I discovered Discord when I read about Flat in a stock forum that referred to a Flat server on the platform. There, users with an interest in Flat gather to discuss and share information.
I quickly realized that I am not alone in liking the platform with its millions of users and major VC players backing the company, including Dragoneer. We are so happy that we had the opportunity to buy shares in Discord, and it is of course extra fun that we found the company through our shareholders!”
About Flat Capital
Flat Capital is an investment company that focuses on companies with prominent entrepreneurs in leading positions. The portfolio has 17 companies where the largest holdings are Klarna, Budbee, and Truecaller. The company wants to contribute with long-term capital and is basically a passive minority owner, while its experience and network are available to the extent that the contractor wishes.
About Discord
Developer of an instant messaging and digital distribution platform designed to offer VoIP and texting services among friends or as part of gaming communities. The company’s platform offers secure voice and text chat which works on both desktops and phones, helping to talk regularly with the people they care about, enabling gamers to chat while playing without affecting the gaming performance.