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Exxe Group Inc. Makes Big Entry into Venture Capital Industry
Exxe Group Inc. Makes Big Entry into Venture Capital Industry.
About this update from Exxe Group Inc.
[{"type":"text","content":"\n NEW YORK, Jan. 09, 2020 (GLOBE NEWSWIRE) -- Exxe Group Inc. (OTC PINK: AXXA), a diversified company focused on synergistic acquisitions in real estate, sustainable technology, media, financial services, and agribusiness, is pleased to announce that it has finalized a binding Memorandum of Understanding (MOU) to acquire a controlling interest in a leading startup accelerator with a portfolio of innovative companies in high growth industries.  Once closed, the target accelerator will be renamed the AXXA Venture Fund and the current team of senior VC professionals will stay on with the Fund and join Exxe’s Advisory Board.  These investment and management professionals will bring their expertise and experience with the existing portfolio of carefully selected companies along with a pipeline of future portfolio targets.  As is the case with typical VC funds, Exxe Group is targeting at least 10x return via exit through an IPO or outright sale per portfolio company, with early stage investments exhibiting hockey stick-type growth.  Given the current structure, typical median portfolio company valuations are expected to reach the $8-10M euro mark from their seed or friends and family stage to Series A investment.  Overall, the expected exponential asset gains via annual portfolio revenue and profit growth and company exits could serve as the single greatest asset driver for Exxe Group and its shareholders, going forward.  Acquisition OverviewThis event marks the Company’s first direct foray into the venture capital industry following the blockbuster heat paint transaction during the fourth quarter of 2019. Once closed, the current deal will serve as the anchor for Exxe Group’s financial services operations. In addition, due to its multi-pronged revenue and investment strategy, management believes that this segment will serve as a consistent, exponential revenue and asset driver. The current 16 portfolio companies represent some of the fastest growing industries including technology, health care, AI, media and entertainment, and fashion. These 16 startups were selected from thousands of candidates and are currently guided by a group of seasoned French investors and VC professionals with a focus on profitability and asset growth. Following a future Exxe investment round, management expect...