DFJ Esprit scoops “Venture Capital Deal of the Year”
23 Apr 2009
DFJ Esprit has been awarded Venture Capital Deal of the Year, at the 2009 Private Equity Awards for its work with affiliate marketing specialist buy.at, sold to AOL in 2008. The award, presented by The British Private Equity and Venture Capital Association (BVCA) and Real Deals magazine, recognises the very best achievements of individuals and firms working within venture capital and private equity.
Nic Brisbourne, Partner, DFJ Esprit said, “Pitted against such strong competition, we are immensely proud to receive this award. Interested in the performance-based internet marketing sector, we sourced buy.at off market as it clearly had a bright future. We are pleased to have helped the founders to a strong exit in difficult economic conditions within two years.”
The sole venture investor, DFJ Esprit was instrumental in rebuilding the management team at buy.at, including the appointment of former Advertising.com founder Bruce McLaren as Chairman and encouraged an aggressive growth strategy. Their resulting work saw the workforce more than double, a successful US launch and significant growth in profitability. DFJ Esprit managed the exit of the business for the founders, including the introduction to AOL.
Bruce McLaren, Former Chairman, buy.at, said, “Esprit were absolutely essential to the ultimate success and turnaround at buy.at … in sourcing and recruiting the new management team to guidance on important strategic issues at the board meetings.”
DFJ Esprit was presented with the award on April 22, 2009 at the awards dinner at Grosvenor House, London.