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Pale Fire Capital SE

CIK:0001922318
Private Equity
$975M AUM
60 holdings
Prague, Czech Republic
Founded:2004
50 employees
Latest filing:Jun 30, 2025

Pale Fire Capital SE is a private equity investment firm based in Prague, Czech Republic, founded in 2004 by the Hanus brothers. The firm focuses on technological innovation and forms strong partnerships with founders, leveraging over twenty years of expertise in building successful companies. With a team-oriented strategy, they support business expansion, especially in consumer, marketplace, fintech, education, media & entertainment, and SaaS sectors. Employees are estimated at 11-50, and their portfolio includes international and high-profile investments such as Groupon, Rouvy, and itrinity. Pale Fire Capital serves both European and global markets, providing capital, know-how, and strategic involvement to help companies scale, with a particular focus on technological and operational growth.

Investment Strategy

Pale Fire Capital SE's investment strategy centers on forming close partnerships with founders and supporting technological innovation across a range of sectors. The firm takes a hands-on approach, using the experience of its internal team to help portfolio companies overcome barriers to growth, expand internationally, and build strong operational foundations. They invest across all development stages, adapting investment and strategic support for projects from idea stage to market-ready companies. Their focus is on technology-driven businesses, particularly consumer, SaaS, fintech, marketplace, and media, aiming for both financial success and positive sector impact.

Top Buys
G
GRPNGROUPON INC
+$149.5M
B
BTGB2GOLD CORP
+$52.6M
T
TEVATEVA PHARMACEUTICAL INDS LTD
+$17.6M
S
SPPPSPROTT PHYSICAL PLAT PALLAD
+$13.8M
M
MTCHMATCH GROUP INC NEW
+$12.9M
Top Sells
G
GOLDBARRICK GOLD CORP
-$145.8M
C
CDECOEUR MNG INC
-$19.0M
D
DOLEDOLE PLC
-$4.2M
U
UBERUBER TECHNOLOGIES INC
-$2.2M
N
NMMNAVIOS MARITIME PARTNERS L P
-$1.3M

Top Holdings

G
GRPNGROUPON INC
+34.9%$340.6M
B
BTGB2GOLD CORP
+24.4%$237.4M
D
DOLEDOLE PLC
+8.9%$86.4M
H
HLHECLA MNG CO
+4.6%$44.6M
N
NGDNEW GOLD INC CDA
+2.9%$27.9M

Equity Positions (58)

TickerSecurityWeightMarket ValueSharesAvg CostPriceChange (QoQ)
G
GRPN
GROUPON INC34.94%$340.6M10,181,070$9.99$33.45+$149.5M
B
BTG
B2GOLD CORP24.36%$237.4M65,760,909$2.60$3.61+$52.6M
D
DOLE
DOLE PLC8.86%$86.4M6,174,540$9.97$13.99-$4.2M
H
HL
HECLA MNG CO4.57%$44.6M7,438,818$5.56$5.99+$3.2M
N
NGD
NEW GOLD INC CDA2.86%$27.9M5,630,478$3.71$4.95+$4.0M

Industry Allocation

SERVICES-ADVERTISING AGENCIES
+34.9%
GOLD AND SILVER ORES
+32.2%
AGRICULTURAL PRODUCTION-CROPS
+8.9%
MINING & QUARRYING OF NONMETALLIC MINERALS (NO FUELS)
+5.4%
PHARMACEUTICAL PREPARATIONS
+5.3%