July the 24th, 2021 - The wildly popular Museum of Illusions which placed the Croatian capital of Zagreb on the museum map for very many people, is set to make yet another international breakthrough owing to a very welcome cash injection.
As Poslovni Dnevnik/Lucija Spiljak writes, the Invera Equity Partners (IEP) private equity fund management company has finalised an investment for the company Metamorfoza, which is behind the well-known educational and entertainment Museum of Illusions concept.
This business model is based on the franchise and is present across twenty countries, in 34 cities on four continents, including the likes of New York, Paris, Toronto, Vienna, Dubai, Shanghai.
The concept was developed by the company's founders and current shareholders Tomislav Pamukovic and Roko Zivkovic, launching it back in June 2015 in the heart of Zagreb, where it immediately experienced great success and from where it quickly began to spread around the world.
The investment in Metamorfoza is the first transaction financed by the Invera Private Equity Fund, and was supported by the European Investment Fund, the European Bank for Reconstruction and Development, the Raiffeisen Mandatory Pension Fund, the Erste Blue Mandatory and Voluntary Pension Fund, the Decommissioning Financing Fund (NEK) and the PBZ Croatia Insurance mandatory pension fund. The IEP thus acquired a majority (65 percent) stake in the company and undertook to increase its capital by a massive three million euros.
"We're delighted with this new partnership and believe that this is a great way for the Museum of Illusions concept to grow and continue to be a global leader in this segment," said Pamukovic and Zivkovic. IEP will continue to develop Metamorfoza and strengthen its partnerships with the company's founders.
The company is focused on further expansion across the world, primarily through franchises, but also by turning the business model in which Metamorfoza would open and manage museums in all major cities around the world.
“Creating a new idea and turning it into a marketable product is in itself a great success. Creating a new idea and turning it into a globally recognisable brand on four continents and more than 20 countries within 6 years is truly remarkable. It obviously took a unique combination of the founder’s creativity, vision, and perseverance to bring Metamorfoza to this level. We're proud that Roko and Tomislav gave us their trust and joined us at this stage,'' said Kemal Sikiric, an IEP Executive Partner.
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