By reselling 2% of its shares in the Belgian digital firm, which are added to the 2% sold last year, the Walloon public investor has achieved with Odoo its most impressive capital gain on one of its investments. And he still holds a few percent…
It’s the big new tech news of the week, or even the month. The Belgian unicorn Odoo announces its gigantic new valuation. Thanks to a new financial transaction, we learned that the firm launched and managed by Fabien Pinckaers was now worth 5 billion euros. This updated estimate was made following a major transaction of 500 million euros, led by renowned investors such as CapitalG (subsidiary of Alphabet), Sequoia Capital and BlackRock. This secondary operation sees certain historical shareholders partially sell their shares, including Summit Partners, Noshaq and Wallonie Entreprendre. In total, the operation concerns 10% of Odoo shares, bringing in players as prestigious as CapitalG.
2% for 100 million euros
A great operation which also benefits Walloon public investors. Entered in 2014 by injecting 10 million euros into Odoo, SRIW, now Wallonie Entreprendre (WE), is taking full advantage of its investment in Fabien Pinckaers’ firm. The investor has in fact just sell 2% of Odoo, which should bring it no less than 100 million euros in total capital gain. “This makes Odoo today WE’s best investment of all time,” admits Olivier Vanderijst, boss of Wallonie Entreprendre. Here, WE was not asking to sell but followed the movement which allowed Odoo to attract some of the most high-profile global investors.
Last year, in 2023, WE separated part of its participation and voluntarily provoked the movement. WE had sold 2.2% of its approximately 8.3% shares in Odoo for more than 70 million euros. Today, by parting with 2 new percent, he would have some 4% of the 5 billion firmwhile having already achieved a total net capital gain of around 175 million euros.
Belgium
