Multy Home EU

To the Novacap team,

There is a dire situation going on in Ukraine and I wanted to share a positive story that is happening in one of our portfolio companies. As you know, we have partnered with the Erdman family and with a polish partner (Kamil Mistygacz) in Multy Home last summer and Multy Home operates a meaningful and growing business in Europe that is based in Poland near Warsaw. Most of the Multy Home EU employees are from Ukraine and as you can imagine, they are very worried with the situation and we are trying to support them as much as we can. Our partner Kamil is devoting enormous energy to provide support on many fronts including the sheltering of our employee’s family relatives as well as refugees from Ukraine.

I thought it was important to share an email we got from Kamil this morning to illustrate how they are trying to help: “Also we are supporting the company which is employing the Ukrainian people. This company is currently having 40 children and 20 adults allocated in private houses or rented flats etc. We are now supporting this company in supplying food, childcare, clothing etc. For now it works fine. Also we get today 3 people from our client EPICENTR (this is a large account we have in Ukraine) which we will put into a private apartment which we will prepare specially for them. So here we have to bear the cost for this. We are working this out now. I think the difficult part is still ahead as the people wont stop coming. So until now 1 MLN. We expect 2,5 – 4 MLN people. “

Kamil did not ask for anything, but I believe we have an opportunity to provide a direct support through folks we know and trust and that are helping the Ukrainian people right now. You know this is not something I’m asking often, but I’m seeking your help to give Kamil and his team more means so they can help more people in return.

My plan is to funnel our donations to Multy and than to Multy EU. This donation won’t provide for any tax credit. I'll provide you with the details on how to proceed with the donation later.

Any donation ($) is welcomed. I’ll donate an important amount myself.

We have had the chance to meet these people on a trip to Poland last October and I don't think we can stay here and not do our part. This a good context and timing to do so in my opinion.

On behalf of our team in Poland, thanks in advance from the bottom of our hearts.