Atwater Capital LLC has agreed to acquire a minority stake in Freepik, a Spanish provider of digital visual content. No financial terms were disclosed. Freepik is backed by EQT.
Los Angeles, October 26, 2020 – Atwater Capital LLC (“Atwater”), the private equity firm that focuses exclusively on the media and entertainment sectors, has agreed to acquire a minority stake in Freepik Company (“Freepik” or “the Company”), the global leading freemium provider of digital visual content. Vania Schlogel, Managing Partner & Founder of Atwater, has also been appointed to the Board of Freepik.
Atwater joins global investment firm EQT, which acquired a majority stake in Freepik in July 2020 via its EQT Mid-Market Europe Fund, and the Company’s founders and management as shareholders in Freepik. The Company’s management team, including the Co-Founders, Alejandro and Pablo Blanes and Joaquin Cuenca, will continue to lead Freepik.
Founded in 2010 and based in Malaga, Spain, Freepik is the global leader in visual content, online graphic design and digital media, supporting 32 million monthly visitors and more than 20 million registered users in over 200 markets through a high-quality and curated library of over 10 million graphic resources, including icons, vectors, photos, and templates.
Freepik has transformed the visual content and online graphic design market thanks to its innovative freemium business model and is today the largest freemium provider of digital visual content in the world.
Atwater will work alongside EQT and the Company’s founders and management team to support Freepik’s growth and expansion in the Asian market, while providing extensive knowledge and experience in the media and digital content space. Atwater’s approach is additive and complementary to EQT’s leading digital and sector expertise and global platform and network.
Vania Schlogel, Managing Partner & Founder of Atwater Capital, said: “We are delighted to be part of the next stage of Freepik’s growth as it further strengthens its position as the leading freemium provider of digital visual content. We are also proud and excited to be working alongside EQT, one of the world’s leading investment firms.”
ABOUT ATWATER CAPITAL
Focused exclusively on the Media and Entertainment sectors, Atwater Capital was founded with the vision of uniting the valuable creative aspects of evaluating investments and growing companies with deep operational and financial expertise under one roof and one team. Going against the status quo of traditionally segregating these critical activities, Atwater seeks to extract the synergies of applying quantitative rigor to creative strategy on behalf of our portfolio companies and stakeholders. Atwater Capital brings a track record of excellence in operational and financial strategy to deliver tangible results. Whether through optimizing operational processes, unlocking business development opportunities, delivering an extensive network of influencers to create authentic messaging, or digitizing away from ineffective and capital-intensive traditional branding activities — Atwater brings nimble and disruptive strategies to our investments. www.atwater-capital.com
EQT is a differentiated global investment organization with more than EUR 62 billion in raised capital and around EUR 40 billion in assets under management across 20 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and North America with total sales of more than EUR 27 billion and approximately 159,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership. www.eqtgroup.com
Freepik supports approximately 32 million monthly visitors, leveraging consumer demand insights from 5 billion downloads to date, to create over 10 million high quality and curated graphic resources across icons, vectors, photos, and templates. Freepik is a global leader in the fast-growing visual content, online graphic design and digital media space, thanks to a disruptive business model and a unique, data-driven approach to content sourcing and in-house content production, supporting a rapidly growing community of 20 million registered users. www.freepik.com