German Startups Group (GSG), the publicly-listed German (duh) investment firm, this morning announced that it has acquired equity in Auctionata, the online auction house for art and luxury collectibles, and increased its stakes in two other startups (reBuy and TVSmiles).
More precisely, GSG has "signed a binding preliminary contract for the indirect acquisition of a stake in Auctionata", which it says will become one of the ten core holdings within its portfolio once effectuated.
It's unclear who German Startups Group is buying the share from, exactly.
But one can understand why they did. Auctionata was recently identified as one of 50 of the fastest-growing European tech companies, and we shone a light on the Berlin-based startup about a year ago if you're interested in learning more about why exactly they became part of that bunch.
Auctionata has attracted funding from investors from Germany, France, Luxembourg, Poland, the United Kingdom, the United States, Russia and China. The latest financing round (Series C) was completed with €42 million in May 2015.