There are companies whose business is investing other people’s money. We, O3 Partners N.V., acquire ownership stakes in such fund managers, and we are issuing new shares. How does this business work, and what will we use the proceeds of the offering for?
We will discuss this at the O3 Investor Club event, organised by Portfolio, on 3 November at the BEM Center. Péter Oszkó, our Chief Executive Officer, will present the Company and the background to the offering. We will explain why we see opportunity in fund managers, how we will use investors’ funds, and what steps we plan to take on the Hungarian stock exchange.
After the presentation, you are welcome to ask questions, and we will answer on the basis of publicly available information. The terms of the offering are set out in the published prospectus.
Online - webinar
Legal Disclaimer
This website constitutes an advertisement within the meaning of Regulation (EU) 2017/1129 in connection with the planned public offering of shares in O3 Partners N.V. and the admission of its shares to trading on the Standard Market of the Budapest Stock Exchange. This website does not constitute a prospectus.
The Prospectus being prepared for the offering has been approved on 20.11.2026 by the Dutch Authority for the Financial Markets (Autoriteit Financiële Markten, AFM). Share subscriptions may take place during the offer period following the approval of the Prospectus, its notification to the Magyar Nemzeti Bank (the Central Bank of Hungary), and its publication. The Prospectus will be made available on this website.
Approval by the AFM does not constitute an endorsement of the Company or its shares. Before making an investment decision, please read the Prospectus in its entirety to understand the potential benefits and risks associated with the investment. Investing in shares may result in the partial or total loss of the invested capital.
As an O3 shareholder, you can become an owner of a European investment holding company that builds on the experience and business performance of multiple fund managers.
In the world of private equity, investment opportunities extend beyond the growth of businesses to the growth of the fund managers that finance them. O3 Partners acquires ownership stakes in these fund managers, supports the launch of their new funds, and invests its own capital in the associated investments.
The Company aims to increase the long-term value of its shareholders’ investments by expanding and developing its portfolio of holdings.
Be Part of O3 Partners’ Growth
The planned public offering of shares provides an opportunity to participate in this next stage of growth. The new ordinary shares are expected to be available for subscription by retail investors in euros between 9 november, 2026 and 20 november, 2026. In parallel with the offering, O3 plans to transfer its listing to the Standard Market of the Budapest Stock Exchange (BSE).
Learn more about the terms of the share subscription and, before making an investment decision, please read the
Learn More About the Issuer
O3 Partners N.V. is an investment holding company incorporated in the Netherlands and listed on the Xtend market of the Budapest Stock Exchange.
O3 Partners acquires ownership stakes in private equity and venture capital fund managers and supports their growth. It builds long-term partnerships with investment teams that have experience in financing and developing businesses and seek to expand further by launching new funds and strengthening their international presence.
As a shareholder in these fund managers, O3 may benefit from their business performance, while its own investments in their funds also provide exposure to the returns generated by those funds.
O3’s growth is driven by the acquisition of additional stakes in fund managers, the launch of new investment funds, and the development of its existing holdings. Its associated investment activities span the full spectrum, from early-stage technology startups and companies preparing for international expansion to equity investments in more mature businesses.
O3 makes this investment landscape accessible through publicly traded shares. By investing in a single company, shareholders can gain exposure to the performance of multiple fund managers and the funds they manage, without having to make separate long-term capital commitments to individual funds. The shares can be traded on the stock exchange, subject to prevailing market prices and demand. Through this model, O3 aims to increase the long-term value of its shareholders’ investments.
Our Story
The O3 story began in 2014 with the launch of OXO Labs. The aim was to provide promising technology startups with not only capital, but also business expertise and practical support to help them get started and enter international markets. The experience and network developed during this period laid the foundation for the Group’s subsequent growth.
In 2020, OXO Technologies Holding Plc. was established, bringing the existing investments together under a single company. Trading in the Company’s shares commenced on the Xtend market of the Budapest Stock Exchange in September 2021. The portfolio gradually expanded beyond early-stage startups to include revenue-generating companies preparing for further growth and international expansion.
From 2024, a new direction became central to the Company’s strategy. Alongside direct investments in businesses, the Company identified growth opportunities in acquiring ownership stakes in fund managers. This enabled it to build on the experience of multiple investment teams and participate not only in the funds they manage, but also in the growth of the fund management businesses themselves.
A significant milestone in this development was the acquisition of a 24% stake in 3TS Capital Partners in 2025. The partnership with 3TS, which has more than two decades of investment experience, brought a broader European network and new opportunities for collaboration. This marked the establishment of the fund manager ownership model as a core part of O3’s business.
The Company’s international expansion was accompanied by a transformation of its corporate structure. Since early 2025, the Company has operated as a Dutch entity headquartered in Rotterdam and adopted the name O3 Partners later that year. Its shares are currently traded on the Xtend market of the Budapest Stock Exchange under the ticker symbol O3PNRS.
In 2026, O3 expanded its fund management holdings by acquiring a 30% stake in Romania-based Catalyst Advisory. It also established its own fund management company, O3 Investments B.V., and initiated the launch of O3 Secondaries N.V., an investment fund focused on acquiring existing equity stakes in companies. The Dutch Authority for the Financial Markets (AFM) registered O3 Investments as an exempt alternative investment fund manager and O3 Secondaries as a fund managed by it.
Vision
Europe’s private equity and technology investment landscape is made up of numerous strong local investment teams that are, individually, limited in scale. While the United States and other global markets are home to large investment firms combining multiple strategies and substantial pools of capital, Europe remains highly fragmented, both geographically and organisationally.
O3’s vision is that strengthening Europe’s competitiveness requires larger, cross-border investment firms capable of bringing together local market expertise, specialised investment capabilities and international capital within a unified corporate structure.
O3’s long-term ambition is to become one of these leading European investment firms. Building on its Central and Eastern European roots, O3 aims to develop an investment holding company with a broader European presence, enabling shareholders to participate in its growth and value creation through the public markets.
Mission
Growth Strategy
Our Business Model
O3 participates in the private equity market as an owner of fund management companies. This is known internationally as GP-stake investing: the Company acquires ownership stakes in businesses that manage and oversee investment funds. In this way, O3 has an interest in both the financial performance and long-term development of these fund managers.
The value of a fund manager is built on the expertise and experience of its investment team, as well as the trust of its investors. Building on these foundations, it can launch new funds, raise additional capital, and expand its investment activities. O3’s ownership stake therefore provides exposure not only to existing funds but also to the fund manager’s future growth.
The Company takes an active ownership role, supporting its holdings with financing, business networks, and financial, organisational, and technological resources. It contributes to the preparation and fundraising of new funds while participating, as an owner, in the financial performance of the fund management businesses.
Each fund manager operates through its own investment team and local market expertise, retaining its professional independence and decision-making processes. O3 provides a shared foundation for their development and helps the teams benefit from one another’s experience and networks.
Our Revenue Streams
O3’s revenue and investment returns may come from multiple sources: recurring fees related to its operations, profits from its fund management holdings, and returns on its own investments.
Fund managers receive regular management fees for operating investment funds, typically calculated based on committed or invested capital or assets under management. These fees provide the recurring revenue base for their operations. As an owner, O3 may participate in the profits of its fund management holdings and may also generate its own fee income from services provided to its holdings and associated funds.
Successful investments may generate additional income. If a fund meets the return conditions agreed with its investors, the fund manager may be entitled to a performance fee or a specified share of the profits, known as carried interest. This may increase the profitability and dividend-paying capacity of O3’s holdings. However, the amount and timing of such income can vary and are typically linked to the successful exits from investments
O3 may also invest its own capital in associated funds, allowing it to participate directly in their returns. In doing so, it shares in both the opportunities and risks of these investments alongside other fund investors. Additional returns may arise from dividends, increases in value, or the sale of the Company’s other equity holdings. However, changes in the value of investments do not necessarily result in immediate cash inflows.
Together, these sources contribute to O3’s overall performance. Their actual contribution depends on fundraising for new funds, the operations of fund managers, and investment performance. As a result, the relative importance of each revenue stream may vary from year to year.
Family Members
Catalyst NXT Ventures
3TS Capital
O3 Secondaries
OXO Labs
The Next Stage of Growth
How Can I Subscribe for Shares Through Concorde Értékpapír Zrt.?
Both retail and institutional investors may participate in the share offering. As a retail investor, you may subscribe for shares through Concorde Értékpapír Zrt. if you are a natural person with full legal capacity or a business entity (whether domestic or foreign) and hold a client account and a securities account with Concorde Értékpapír Zrt.
I Already Have a Client Account and a Securities Account
If you hold a client account and a securities account with Concorde Értékpapír Zrt., you may submit your Share Subscription Request through the following channels:
In person at Concorde Értékpapír Zrt.’s Customer Service Office during opening hours
During the Retail Offering Period, requests for New Ordinary Shares may be submitted in person or through an authorised representative at Concorde Értékpapír Zrt.’s Customer Service Office (1123 Budapest, Alkotás u. 55–61., 7th floor) on business days during the opening hours specified in the applicable Business Rules. On the final day of the Retail Offering Period, requests must be submitted no later than 12:00. Please note that an appointment is required.
Online – via the www.mycd.hu platform
Retail Investors who hold a client account and a securities account with Concorde Értékpapír Zrt. and are eligible to use the www.mycd.hu online platform may also submit their Share Subscription Requests electronically through this system.
Share Subscription Requests may be submitted through the online platform outside Concorde Értékpapír Zrt.’s Customer Service Office opening hours. However, on the final day of the Offering Period, requests must be submitted no later than 12:00.
When submitting a Share Subscription Request, Retail Investors must ensure that sufficient funds are available to cover the purchase price of the securities they wish to subscribe for.
By email
Retail Investors may subscribe for shares by email if they are already clients of Concorde Értékpapír Zrt. before submitting their Share Subscription Request. This means that Concorde Értékpapír Zrt. must have already completed the client identification procedures required under its supervisory authority-approved Business Rules and registered the Retail Investor as a client.
For subscriptions by email, the Retail Investor must sign the Share Subscription Request, initial every page, and send the completed document to Concorde Értékpapír Zrt. by email.
Concorde Értékpapír Zrt. will carry out the client identification procedures associated with the Share Subscription Request in accordance with its supervisory authority-approved Business Rules.
Concorde Értékpapír Zrt. advises clients that personal attendance may be required during the identification process. In such cases, the Share Subscription Request may only be submitted after the Retail Investor has appeared in person and completed the required identification procedures.
Concorde Értékpapír Zrt. disclaims all liability arising from a Retail Investor’s failure or delay in fulfilling their client identification obligations.
Share Subscription Requests may also be sent by email outside Concorde Értékpapír Zrt.’s Customer Service Office opening hours. However, on the final day of the subscription period, they must be submitted no later than 12:00.
Retail Investors are advised that they bear full responsibility for any failure of an email to arrive or for its incorrect delivery. Concorde Értékpapír Zrt. disclaims all liability arising from non-delivery or incorrect delivery of emails.
Accordingly, it is the Retail Investor’s responsibility and obligation to demonstrate that the email was properly delivered to Concorde Értékpapír Zrt. within the required deadline.
In all other respects, the rules applicable to in-person subscriptions also apply to subscriptions submitted by email.
For subscriptions by email, Retail Investors must send their Share Subscription Request to the following email address:
Email: o3.jegyzes@con.hu
I Do Not Have a Client Account or a Securities Account
Retail Investors who do not yet hold a client account and a securities account with Concorde Értékpapír Zrt. may participate in the Share Subscription, provided they meet the requirements set out in Concorde Értékpapír Zrt.’s applicable Business Rules and Fee Schedule and open both accounts before or at the time of subscription. Further information on the terms and costs of account opening and maintenance, including the documents required to open an account, is available on the Concorde Értékpapír Zrt. website and from its customer service.
If you do not yet hold a client account and a securities account with Concorde Értékpapír Zrt., please contact us using one of the contact methods provided here before submitting your share subscription request. Please note that an appointment is required.
Once the accounts have been opened, Retail Investors may participate in the Retail Offering in accordance with the rules and procedures applicable to existing clients of Concorde Értékpapír Zrt. who hold both a client account and a securities account.
Frequently asked questions
What Is the Total Value of Shares O3 Partners N.V. Plans to Issue?
O3 Partners N.V. plans to raise a maximum of EUR 15 million in gross proceeds through the retail and institutional share offering.
The net proceeds received by the Issuer will depend on the actual number of new shares subscribed for and issued, the final offer price of the shares, the fees charged by the distributors involved in the transaction, and other costs associated with the offering.
What Does It Mean That the Share Subscription Price Range (Offer Price Range) Is Set Between EUR 8.50 (Minimum Offer Price) and EUR 10.10 (Maximum Offer Price)?
At What Price Can Retail Investors Subscribe for O3 Partners’ Newly Issued Ordinary Shares?
What Is the Maximum Number of Shares a Retail Investor Can Subscribe For?
How Many Share Subscription Requests Can a Retail Investor Submit?
Who Determines the Final Offer Price?
What Happens if the Final Offer Price Is Lower Than the Maximum Offer Price at Which Retail Investors Can Subscribe?
Calculation of the Refund Amount:
(Maximum Offer Price × Number of New Shares Subscribed For) – (Final Offer Price × Number of New Shares Actually Allocated) = Refund Amount
If the above calculation results in a positive difference, the full refund amount will be credited back to the Retail Investor’s client account held with the distributor.
When and Under What Circumstances Can the Share Subscription Period Be Closed Early?
When and Where Will You Be Informed of the Share Allocation Results and the Final Offer Price?
What Are the Conditions for the Allocation of Shares During the Retail Offering?
If the number of New Shares allocated to the Retail Offering is insufficient to satisfy the subscription requests submitted by Retail Investors, the newly issued ordinary shares allocated to the Retail Offering will be distributed among Retail Investors on a pro rata basis. All Retail Investors who submit a valid Share Subscription Request during the Retail Offering will be treated equally.
Investors participating in the Retail Offering should be aware that, in the event of oversubscription, they may be allocated fewer newly issued ordinary shares than requested or may not receive any shares at all.
The relevant provisions are detailed in the Prospectus .
When Can New Shareholders Begin Trading Their New Ordinary Shares?
The Issuer’s previously issued ordinary shares are already listed on the Budapest Stock Exchange (BSE). The listing date of the New Ordinary Shares, which belong to the same share series, and the first trading day of the increased number of shares will be the date on which the purchased shares are credited to the shareholders’ securities accounts.
This date will be determined by the Budapest Stock Exchange at the request of O3 Partners following the successful completion of the offering.
Trading in O3 Partners’ New Ordinary Shares on the stock exchange is expected to commence on or around 27th November 2026
O3 Partners
Contact
Investor Relations:
Tamas Bojtor
investor.relations@o3.partners
Media & PR:
Daniella Szabo daniella.szabo@o3.partners