Inveready successfully divests its stake in Wiris, achieving over 25% annual IRR and illustrating the effectiveness of combining organic growth with strategic acquisitions in the STEM software sector.

Target Company Overview

Inveready has divested its stake in Wiris, a Catalan company renowned for pioneering software development in the STEM sector, achieving an annual Internal Rate of Return (IRR) exceeding 25%. This divestment marks a significant milestone as it coincides with Wiris' 25th anniversary, during which the company has established itself as a global leader in developing mathematical and scientific content.

Founded in Barcelona, Wiris experienced substantial growth following its acquisition of Design Science, a competitor based in the United States, in 2017. This strategic purchase was financed through a blend of venture debt and capital contributions from Inveready and Athos Capital, respectively. Last year, both firms agreed to exit their shareholder positions by selling their stakes to the company's founder, Ramón Eixarch, resulting in a remarkable return of 5 times on their initial investment.

Industry Overview in Spain

The STEM sector, particularly in Spain, has seen a notable transformation as the demand for innovative educational tools grows among students and educators alike. Spanish compa