Lexington acquires majority stake in ProSiebenSat.1 VC assets
June 29, 2017
Broadcasting powerhouse ProSiebenSat.1 has sold the majority of its media-for-equity portfolio to Lexington Partners. The deal, worth around €50 million, per Reuters, will see Lexington take over the main part of a new fund called Crosslantic Capital, containing up to 16 interests from ProSiebenSat.1's VC arm SevenVentures and other group companies. SevenVentures will remain a strategic partner with a minority stake of around 24.5% in the new vehicle.