MyTicket owner Deutsche Entertainment AG (DEAG) is to pursue new acquisitions after raising around €6.06m (£5.23m/$7.27m) in funding by way of a cash capital increase.

The Berlin-based ticketing and live entertainment company is increasing its share capital by 1,962,597 new shares through support from its largest individual shareholder, Apeiron Investment Group Ltd.

The rise represents a share of approximately 10 per cent of the share capital and voting rights in DEAG prior to the capital increase taking effect.

The group said it will use the funding to take advantage of attractive market opportunities to acquire companies that are identified at short notice.

“DEAG is thus continuing to pursue its strategy of growth in key markets and extending its value chain,” it said in a statement.

Apeiron supported DEAG’s delisting, which took place earlier this year, and subscribed to the capital increase through Apeiron SICAV Limited – Live Opportunities Fund.

In January, the entertainment company revealed it would delist from the Frankfurt Stock Exchange after securing the support of its largest single shareholder.

After the submission of a public delisting-takeover offer was agreed as a requirement for the delisting, Peter Schwenkow, chief executive and founder of DEAG, told TheTicketingBusiness the move would allow the firm to perform “strategic movements without worrying about quarterly announcements, as is required with a public company”.

In the agreement with DEAG, Apeiron committed to support the firm’s further growth strategy outside the stock exchange listing.

Shortly after the delisting announcement, the group acquired 75 per cent of shares in the Danish promoter and producer CSB Island Entertainment. The buyout, via the firm’s wholly owned subsidiary DEAG Classics, was said to “significantly expand” the group’s activities and presence in Scandinavia.