Ante Rimac, founder of Rimac Automobili, Croatian electric supercar company secured a million Euro investment from Tak Cheung Yam, the new majority stake holder in Forbes Media LLC. This is the third high-profile investor to put their money behind the Concept One and Rimac himself- the first two being Frank Kanayet Yepes and Sinocop Resources– and the funding round is still open.
The investment was formally made by Integrated Asset Management (Asia) Limited, the group behind Integrated Whale Media Investments that purchased a majority stake in Forbes, according to Croatian business journal Poslovni.hr.
Having met Rimac at an informal breakfast in Hong Kong, Tak Cheung Yam became interested in the Croation supercar and investment negotiations ensued. Rimac himself looks forward to the new partnership, which will ease the process of conquering new markets:
All of our partners bring added value to the company, and this is especially important when it comes to the Asian market, which is very different from the European, and holds great potential for our products.
One Million Euro For 2% Of The Company
Thanks to the million euro investment, Tak Cheung Yam now holds two percent of the company, which means that the three investors now hold 18 percent of Rimac Automobili all together. The biggest chunk, 10 percent of the company, is in the hands of Sinocop Resources, a Chinese mineral and oils company which invested 5 million Euros, making it possible for the serial production of Concept One supercar to take place in Croatia.
The first round of investment, however, is not over- Rimac is negotiating with several other investors, but he is in no hurry to close the round. The company is doing well on its own- the startup now has a staff of 16, and is making profit on its supercars and high-end electric bikes.
There is enough equity to grow the business as is:
The amount we’ve collected do far is enough to realize our business plan for the next few years, as we have far more equity than initially planned- hence we have no plans to look for new investments.
Rimac Automobili is based on four different pillars – sportscars, future mobility, electric vehicle technology, engineering and prototypes, but recently it also ventured into making next gen wheelchair- a one-time project they don’t plan on commercializing just yet.