Invera Equity Partners (IEP), an equity fund management company, has finalized its investment in Metamorfoza doo (Croatia), including wholly (100%) owned subsidiaries in Hungary and the United States. The IEP thus acquired a majority (65%) stake in the company and undertook to increase the company's capital in the amount of EUR 3 million.
Metamorphosis has developed and currently manages the concept of educational entertainment (“edutainment”), which is called the Museum of Illusions (MI). This business model is based on the existing franchise and is present in 20 countries, ie 34 cities on 4 continents.
Invera Equity Partners will continue to develop Metamorphosis and strengthen the partnership with the company's founders. The company is focused on further expansion in the world, primarily through franchise, but also by reversing the business model in which Metamorphosis would open and manage museums in all major cities around the world.
"We are pleased to announce the first investment of the Invera Private Equity Fund, which took place on the first anniversary of the start of our business. Metamorfoza doo and their originally Croatian 'edutainment' concept of the Museum of Illusions (MI) is globally competitive in the entertainment sector, more precisely in the middle segment of the entertainment market. The middle segment in the entertainment sector is defined as an attraction in which the customer retention time does not exceed 2 hours. Prior to the COVID-19 pandemic, it was this market share that recorded the highest growth rates and proved to be the most resilient segment of the entertainment industry during the pandemic months. Although a relatively young company, Metamorphosis has managed to leave a mark globally with its MI concept, currently managing its franchise network across Europe, North America, Asia and Africa.", He said Slaven Kordić, the executive partner of the IEP and added that it will in partnership with the founders, Invera strive to further accelerate and facilitate the global spread of the Museum of Illusions concept.
“Creating a new idea and turning it into a marketable product is in itself a great success. Creating a new idea and turning it into a globally recognizable brand that spans 4 continents and more than 20 countries within 6 years of existence is something truly extraordinary. ”Kemal Sikirić, IEP Executive Partner.
We are thrilled with the new partnership and believe this is a great way for the Museum of Illusion concept to grow and continue to be a global leader in the edutainment segment, they said Tomislav Pamuković i Roko Živković, founders and CEOs of Metamorphosis.
"Creating a new idea and turning it into a marketable product is in itself a great success. Creating a new idea and turning it into a globally recognizable brand that spans 4 continents and more than 20 countries within 6 years of existence is something truly remarkable”Is a great point Kemal Sikirić, an executive partner of the IEP, and added that a unique combination of creativity, vision and perseverance of the founders was needed to bring Metamorphosis to this level. “We are proud that Roko and Tomislav have given us their trust and joined us at this stage, and we are really happy to have the opportunity to participate in the development of this truly great and innovative Croatian 'edutainment' concept into a truly global company. We look forward to the very exciting years ahead. ", Added Sikiric.
The investment in Metamorphosis is the first transaction financed from the Invera Private Equity Fund, and is supported by the European Investment Fund, the European Bank for Reconstruction and Development, Raiffeisen Mandatory Pension Fund, Erste Blue Mandatory and Voluntary Pension Fund, Decommissioning Financing Fund (NEK) and Mandatory pension fund insurance.
MUSEUM OF ILLUSIONS AS A CROATIAN TOURIST EXPORT PRODUCT
Concept Museum of Illusion developed by the founders and current shareholders of the company, Mr. Tomislav Pamuković and Mr. Roko Živković, launching it for the first time in June 2015 in Zagreb. Over the years, the company's rapid growth has resulted in a presence in 20 different countries and with 34 franchises appearing in major cities around the world - following the example of Zagreb, the Museum of Illusions has expanded to New York, Paris, Toronto, Vienna, Dubai, Shanghai and many other cities where he achieved equal popularity and success.
The metamorphosis proved to be global in terms of management and development of the franchise network with the possibility of attracting new franchise partners, mostly due to very attractive returns on investment. Thus, at the beginning of 2021, the Museum of Illusions opened its franchise in New Delhi, and thus it did became the world’s largest chain of private museums in the world.
The company focused on the so-called. “Edutainment” part of the market (combination of education and entertainment). As a result, it has managed to capture the market of different age groups, both locals and tourists (either domestic or foreign). “Museums of illusions also have an educational component because each illusion is ultimately explained, and visitors are introduced to the details behind the illusions, as well as the way the illusion works, or the way it deceived our mind.. ” stand out from the Museum of Illusion.
The Illusion Museum has long been a Croatian tourist export product, and as of this year, the world's largest chain of private museums in the world with 34 franchises I share around the world. And the story will only continue to spread with the new investment and partners, and I am sure that in a year or two we can expect the opening of the 100th jubilee Museum of Illusions in the world.
Photo: Museum of Illusion