Update regarding Bulb Capital Club Deals in times of Coronavirus

Tough times worldwide and time for us to inform you about our Club Deal Investments as all companies are in Coronavirus mode.
The virus is spreading around the world right now and we see high infection rates on all continents where we are active.
We clearly see this as a severe threat to the global economy and we are in regular contact with all our Club Deal portfolio companies. We have insisted that all companies will save cash on hand as much as they can in order to make sure that none of them is running out of liquidity short term. So the companies are supposed to stop marketing spending, move regular payments, etc. Most of the companies have just closed an investment round or got loans granted and liquidity is secured for the coming months. Our investments are mostly in the E-commerce and E-service field and are not affected by shop closings and other shut downs ordered by governments. In some cases the companies were recently benefiting from the situation and revenues were going up as people are sitting bored at home and go shopping online. The strategy to invest in consumer goods and not in heavy enterprise software companies or similar is paying off right now as enterprises have shut down all investment programs, RFIs, etc. and public spend in the E-commerce field is less affected. In summary with think all Club Deal companies will get over the crisis with more or less damage but will survive given the liquidaty buffers on hand. Of course it is hard to predict how and when the crisis will end and we have no guarantee that the companies will make it. Therefore we are monitoring the situation closely and will inform investors if anything is changing and actions will be needed.

We are currently gathering the latest status of each company and will inform investors in separate emails in the coming days.

Best regards and stay healthy
Michael & Dominik

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