on German Startups Group Berlin GmbH & Co. KGaA (isin : DE000A1MMEV4)
SGT German Private Equity to Become German AI Group
SGT German Private Equity GmbH & Co. KGaA, a holding based in Frankfurt am Main, has announced a strategic pivot towards Artificial Intelligence. This shift includes a name change to German AI Group, set for a vote at the General Meeting on August 14, 2024.
The company aims to develop AI expertise, attract talent, and enhance profitability without significant investments while incubating promising AI startups. Details of the AI business and the 2023 annual report will be released in June. CEO Christoph Gerlinger shared initial insights during an interview with Finance TV.
In May, the subsidiary German Startups Group VC GmbH successfully sold parts of two VC investments above book value. The company has also reduced management and supervisory board compensation. A proposal to reduce the Supervisory Board size to three members will be voted on at the upcoming General Meeting.
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