Acton Capital Partners, the corporate venturing fund for Germany-based media and publishing conglomerate Hubert Burda Media, has acquired a stake in Germany-based virtual office provider Bueroservice24, for an undisclosed amount.
Founded in 2008, Acton Capital tends to focus on web-based companies and numbers online book depository AbeBook and consumer comparison website Ciao.com among its successful exits. The investment was made through Acton Capital’s Heureka Growth Fund, established to target later stage companies, primarily European technology-enabled firms.
Prior to Acton’s investment, Bueroservice24 backers have included DMIT Deutsche Medien und IT, together with fellow Germany-based venture capital firm ComCap Ventures and Germany-based business network company Wolfman Holding.
Founded in 2010, Bueroservice24 aims to provide small and medium-sized businesses with a personal office service, together with a telephone service for its customers.
Frank Seehaus, managing partner at Acton, said: "Bueroservice24.de has a convincing business model and is managed by a highly experienced team. The company also operates in an attractive market – the small and medium-sized business sector is the most rapidly growing sector of the German economy. We see great potential for services which are tailored to meet the needs of that target group."