Deals

Jared Kushner’s Affinity Makes First Europe Investment

Munich-based fitness technology company raised $225 million
EGYM will use funding to prepare company for IPO, CEO said

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By Celia Bergin

July 5, 2023 at 4:00 PM UTC

Corrected

July 5, 2023 at 7:59 PM UTC

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Munich-based fitness technology company EGYM has become the first European company to receive investment from Affinity Partners, the private equity firm founded by Donald Trump’s son-in-law and former adviser, Jared Kushner.

Affinity was the primary backer in the company’s $225 million Series F funding round, EGYM’s Chief Executive Officer Philipp Roesch-Schlanderer said in an interview with Bloomberg News on Wednesday. The investment will help EGYM, which makes smart gym equipment and software, prepare for an initial public offering, he added.