PGH Group Sells Investment from VC Portfolio

The Payments Group Holding GmbH & Co. KGaA (PGH), based in Frankfurt, announced the sale of an investment from its Heritage Venture Capital portfolio. The transaction resulted in proceeds of 989,000 EUR, achieving a multiple of four times the initial acquisition costs. However, it also incurred a book value loss of 0.9 million EUR, which will impact the financial results for 2024.

The loss is expected to be offset by potential damage claims against SGT Capital LLC and SGT Capital Fund II, pending recognition in 2025. Delays in receiving payments from SGT Capital Fund II and SGT LLC further complicate matters, as the debtors appear unwilling or unable to fulfill their obligations. This situation affects PGH's estimated net asset value for the upcoming TPG transaction in August 2025, reducing it from 20 million EUR to between 18 to 19 million EUR.