• AGIC Capital invests into Switzerland-based Eulitha, a leading provider of non-contact Nano-UV-Lithography equipment and services
• AGIC Capital will work with the management team to accelerate Eulitha’s growth globally and promote its proprietary PHABLE™ technology solution for the AR/VR, advanced optical components, and other industries

(Munich and Hong Kong; 5 July, 2022) European-Asian private equity firm AGIC Capital today announces that an investment fund under its management has entered into a set of transaction documents in respect of an undisclosed amount into Eulitha AG, a specialized technology provider of non-contact Nano-UV-Lithography equipment and services.

Founded in 2006 in Switzerland, Eulitha offers unique and cost-efficient non-contact, high-resolution photolithography systems and customized patterning services for a wide range of applications, including DFB/DBR Lasers, AR/VR, Telecommunications, Optical Components and Bio Sensors/Chips. Eulitha’s proprietary PHABLE™ technology is considered to be a preferable option to traditional nanoimprint technology due to lower costs, higher throughput, better consistency, longer mask lifetime and compatibility with non-flat substrates.

AGIC Capital was attracted to Eulitha’s strong positioning as a unique and innovative technology provider in fast-growing markets including AR/VR (Augmented and Virtual Reality) industries and its promising commercialization pipeline backed by strong R&D abilities. AGIC Capital will work closely with the management team to support Eulitha’s international development in particularly the Asia Pacific region and use resources with large industrial players to help the company increase sales and customers.

Heiko von Dewitz, Partner of AGIC Capital in Europe, said: “AGIC Capital believes Eulitha is well poised to gain substantially from the underlying market trends favoring its proprietary equipment and process technology solutions. We are very pleased to have made this investment and will work with the Eulitha management team to scale up the business and accelerate its growth across a variety of industries.”

Dr. Harun Solak, CEO and Co-founder of Eulitha, said: “We are delighted to have AGIC Capital on board on our journey to become a global leader in offering lithography solutions to the growing photonics industries. With this investment Eulitha will be significantly expanding its resources, both financially and in terms of its market reach, to further develop and market its unique photolithography equipment and associated technologies.”

• AGIC Capital acquires majority stake in Grafotronic, a leading and fast-growing manufacturer of roll-to-roll automated manufacturing solutions for the digital label printing and Electrical Vehicle (“EV”) battery markets
• AGIC Capital has invested alongside the management team to accelerate Grafotronic’s growth globally in both existing and new markets and further enhance its commercial and operational capabilities

(London and Hong Kong; 19th May, 2022) AGIC Capital, the European-Asian private equity fund focused on investments in high quality industrial and medical companies today announced the acquisition of a majority stake in Grafotronic AB and its subsidiaries (“Grafotronic”), a leading manufacturer of roll-to-roll automated manufacturing solutions, from its current shareholders, for an undisclosed amount.

Established in 2004, Grafotronic develops highly distinctive modular solutions for the digital label finishing and EV battery markets. It has achieved substantial growth over the last five years since focusing on the digital finishing segment, and is building its position into manufacturing technologies for a range of products in the EV battery market in partnerships with major players in the field.

AGIC was attracted to Grafotronic’s positioning in resilient and high-growth markets, modular product concept, strong innovation capabilities including automation and product / services connectivity, asset-light business model, dedicated and dynamic management team and attractive financial profile. Partnering with the management team, AGIC will support Grafotronic’s continued international growth both in the digital finishing and EV battery segments, in the existing core European markets, US and Asia.

Håkan Sundqvist, Founder of Grafotronic, said: “This is an important step in achieving our dreams, fulfilling our aspirations as a company, and a sound business decision to secure a sustainable future. With the backing of AGIC, we can accelerate on realizing future growth potential, provide our customers with even more innovative solutions and at the same time significantly increase our production and R&D capacity. With AGIC, we can achieve our maximum development potential worldwide.”

Ben Mitchell, AGIC’s Director & Head of UK, said: “We are delighted to have made the investment into Grafotronic and to be backing the management team to deliver the next phase of growth. The acquisition of Grafotronic exemplifies AGIC’s investment strategy, to partner with the management teams of outstanding European SMEs which have significant growth potential and to provide proactive, hands-on support to realise that potential.”

Hong Kong and Munich – European-Asian private equity firm AGIC Capital today announces the successful final closing of its second fund, AGIC Fund II, which will be focused on advanced industrial and medical technology investments.

AGIC Fund II raised US$1.2 billion, reflecting strong investor appetite for funds with distinctive investment strategies and innovative, differentiated approaches to post-investment value creation. It targets majority and significant minority investments with enterprise values typically in the range of US$ 50 – 500 million. 

Founded in 2015 by capital market veteran Henry Cai, AGIC Capital’s debut US$1 billion fund made seven buyout and growth-stage investments, mostly in Europe, and has successfully exited three investments to-date with good returns.

AGIC Fund II started raising capital in 2020 and was largely subscribed to by existing investors who re-upped their commitment. It will continue AGIC Fund I’s successful strategy of investing in mid-market companies that possess differentiated technologies and have attractive growth potential with international expansion being a key growth driver, in particular in Asia.

AGIC’s value creation leverages its local presence and resources as well as unparalleled network and knowledge of the Asian markets to deliver hands-on support to portfolio companies for growth strategy and business development, localization of products and manufacturing as well as local company building. It is also keen to finance bolt-on acquisitions and help with integration. 

Henry Cai, Founding Partner of AGIC based in Hong Kong, said, “The strong performance of AGIC Fund I proves that our strategy of supporting portfolio companies in their international expansion is highly effective and resilient even during times of unusual stress. We will continue to focus on supporting our companies with our complementary resources and know-how.”

Heiko von Dewitz, Partner of AGIC based in Munich, said, “While AGIC’s target investment sectors continue to benefit from strong long-term tailwinds, our deep technology and domain expertise allows us to early spot emerging technology and industry trends and identify promising investment targets. This will remain another key success factor for AGIC going forward.”

• Vitruvian buys Fotona, a world leading energy-based devices (EBD) company, from AGIC Capital
• Fotona has designed and manufactured a portfolio of market-leading medical laser systems and other EBD product lines covering aesthetics, dental and gynaecology applications

London and Munich; 24 August 2021 – London-based international private equity firm Vitruvian Partners LLP today announced the acquisition of Fotona Holdings (Netherlands) B.V. (Fotona) from European-Asian private equity firm AGIC Capital (AGIC) for an undisclosed amount. AGIC will reinvest alongside Vitruvian and continue to support Fotona and its management team with their international growth story.

Established in 1964, Fotona is a leading medical laser focused EBD company. It develops, manufactures and distributes market-leading medical laser systems and other EBDs with product lines covering aesthetics, dental, and gynaecology applications.  Fotona currently serves a global customer base through a direct sales force in the US and China complemented by distributors covering over 65 countries worldwide.

Matjaz Lukac and Jeff Jones, Co-CEOs of Fotona said “We look forward to collaborating with our new equity partner in Vitruvian and believe AGIC will continue to provide constructive support in helping the business grow in Asia and beyond.”

A Vitruvian spokesperson said “Fotona operates in highly attractive segments of the global EBD market. Its cutting-edge product portfolio, strong innovation capabilities and continuous geographic expansion position the Company optimally for future growth. We look forward to working with Management and AGIC to build on these opportunities.”

Heiko von Dewitz, Partner and Managing Director of AGIC in Europe said “We have worked closely with Fotona’s management team since 2017 to expand the business, its customer base and innovative high-tech product lines internationally. We continue to strongly believe in the business’ potential and are excited to reinvest in it alongside Vitruvian who are well equipped to support and drive the next chapter of Fotona’s growth.”

Vitruvian was advised by Houlihan Lokey and Kirkland & Ellis. RBC Capital Markets acted as exclusive financial advisor to AGIC and Gibson Dunn & Crutcher served as legal advisor.