Raue | View firm profile
Berlin, 4 November 2024 – Raue has advised the Berlin-based start-up Haferkater on the buy-out of its existing investors and the conversion into steward-ownership. The new investors do not hold any voting rights in Haferkater; 99% of the voting rights are now held by the management and founders of Haferkater.
According to the articles of association, at least 51% of the voting rights must continue to be held by employees of Haferkater GmbH. The profit rights remain 100% with Haferkater after payment of a limited return to the new investors. The conversion to steward-ownership and the new investments will ensure that Haferkater can continue to act independently in the future and can no longer be sold. These structures place control over company decisions in the hands of those who also manage the company and keep the focus on the core business: Porridge to go at busy transportation hubs.
The previous investors were Katjes Greenfood and Zentis Ventures, who supported Haferkater with their many years of trust and ultimately made the transformation possible. The new investors are Purpose Ventures, Cantella, Karma Capital and private investors. Purpose Ventures is part of the PURPOSE network and accompanies and invests in companies in steward-ownership and those that want to become one. Haferkater has implemented steward-ownership with the help of the Purpose Foundation’s veto share model. This foundation holds one percent of the voting rights in Haferkater and is obliged to use its veto power to block any changes to the articles of association that run counter to the principles of steward-ownership.
Advisors to Haferkater GmbH:
Raue, Berlin: Dr. Jörg Jaecks (Partner, Venture Capital, M&A, Corporate)
A photo of Dr. Jörg Jaecks can be downloaded here.
