Frontier Car Group Exit
We had the pleasure of joining Sujay and his team on the global journey of FCG. From the first meeting it was clear that this was a business that had huge potential with multiple revenue streams on several continents. The team behind FCG were experienced, hungry, ambitious and with complementary skills. Their fundraising was more a storytelling exercise with a focus on the untapped opportunity and huge potential of the sector.
While a positive outcome from Concentric’s side, there are learnings we can take with us; firstly, we should act on conviction – there are only a few times you get the opportunity to participate in premier, highly contested deals, moreover, we were aware of FCG already at Series A stage but we let it slip into Series B. Secondly, top class founders don’t grow on trees, and following an exit like this we need to stay close to the Founders, to be aware of their next moves/entrepreneurial activities, stay part of their network and also jointly enhance the ecosystem.