Nexus: When the Alpha Fund is Sold, the Company Ceases to Exist

After Nexus’s Economic Cooperation Funds I and II received new managers, this fate will also befall its only remaining fund – Alpha. Namely, Splitska banka invites all interested companies to submit their offers for managing the fund by March 20.

With this move, Nexus Private Equity, led by Marko Lesić, ceases to exist.

>>>‘The selection of new managers for Nexus’s funds is illegal’

– The company Nexus Private Equity Partners informed the Croatian Financial Services Supervisory Agency, representatives of the fund’s investors, and Splitska banka as the fund’s custodian on February 12, 2018, that as of March 1, it will no longer be able to conduct business with the Nexus Alpha fund and that it will (…) transfer management to the fund’s custodian, they respond to us from Splitska banka.

They did not want to clarify the selection criteria or the conditions that the new management company should meet. The Nexus Alpha venture capital fund began operations in 2008.

Inspire: The entire portfolio of Nexus’s FGS I fund is for sale

According to the latest information from Nexus’s website (which no longer exists), the Alpha fund had two active investments – in the companies Promotehna and Aqua maritime (both from 2009), and it sold its stake in Kozmo in July 2015.

The latest data from Hanfa for January shows that Alpha’s net assets amounted to 10.2 million kuna. Otherwise, Hanfa revoked the management license for FGSs from Nexus’s management, but not for the Alpha fund, yet this move seems to have been inevitable.