DAGBOK

2020-05-18

Wiccon Invest closes a round during Covid-19

Hello, a message from the CEO.

Not all news is good news;
Wiccons pre-seed investment company and currently the owner of the Wiccon Production Group closed a small round without reaching its goal.

The goal with the round was to secure new pre-seed and seed capital for our production company to provide sweat equity to potential new partners. The round was small in the span of 2-4.5 million SEK. That would have financed around 5-10 000 sweat equity hours and/or around 1-2 million in equity injection.

When the time was running out we stopped at 38 % coverage of the lower span with the current board members, internal staff including our CFO being the biggest buyers.

In other good news;
we welcome another Investment company as a new investor in Wiccon Invest owned by Tomas Ward, a seasoned investor.

Given the Covid-19's effect on our current investments, the capital raised will primarily go to nurture and further develop the companies already under our wings.