Ambit provided legal counsel on an M&A transaction involving a change in the ownership structure of HUB VENTURES a.s., the company behind the Czech Impact Hub network, with Tomáš Čupr, Libor Winkler, Jiří Vojkovský, Martin Ducháček and Purple Ventures among the new investors.
Impact Hub helped establish coworking in the Czech Republic and also develops impact investing activities alongside its shared offices. Media outlets reported the change in ownership on October 4, 2022.
Coworking and business support
In addition to providing shared workspaces, Impact Hub organizes accelerator and innovation programs. At the time of the announcement, the Czech group operated five coworking centers and was building a community of entrepreneurs and professionals across various fields.
Its activities include impact investing, which considers projects’ social and environmental effects alongside risk and financial returns. Impact Hub aims to provide early-stage companies with workspace, expertise and access to financing.
Ownership changes and refinancing
The transaction involved HUB VENTURES a.s., the company behind the Czech Impact Hub network. The change in ownership structure included the departure of co-founder Zdeněk Rudolský and investor Robert Tůma.
As reported in CzechCrunch’s coverage at the time, the new owners purchased the existing investors’ shares and also helped refinance liabilities. Impact Hub itself received no new funds through the transaction. The parties did not comment on the transaction value at the time.
Plans for further development
With the arrival of the new investors, Impact Hub planned to develop entrepreneurial communities, accelerators and projects with a positive impact. At the time of the announcement, it was also preparing a small investment fund of its own for companies at the earliest stage. The fund was intended to expand its support for new entrepreneurs by offering access to initial capital.
