BRIEF

on German Startups Group Berlin GmbH & Co. KGaA (isin : DE000A1MMEV4)

SGT German Private Equity to Become German AI Group

SGT German Private Equity GmbH & Co. KGaA, a holding based in Frankfurt am Main, has announced a strategic pivot towards Artificial Intelligence. This shift includes a name change to German AI Group, set for a vote at the General Meeting on August 14, 2024.

The company aims to develop AI expertise, attract talent, and enhance profitability without significant investments while incubating promising AI startups. Details of the AI business and the 2023 annual report will be released in June. CEO Christoph Gerlinger shared initial insights during an interview with Finance TV.

In May, the subsidiary German Startups Group VC GmbH successfully sold parts of two VC investments above book value. The company has also reduced management and supervisory board compensation. A proposal to reduce the Supervisory Board size to three members will be voted on at the upcoming General Meeting.

R. P.

Copyright © 2024 FinanzWire, all reproduction and representation rights reserved.
Disclaimer: although drawn from the best sources, the information and analyzes disseminated by FinanzWire are provided for informational purposes only and in no way constitute an incentive to take a position on the financial markets.

Click here to consult the press release on which this article is based

See all German Startups Group Berlin GmbH & Co. KGaA news