FRANTISEK BOSTL: BUILDING VALUE BEYOND THE MARKET

František Bostl - Founder of STARTEEPO | Chairman of STARTEEPO SICAV

František Bostl is a Czech investor, entrepreneur, and founder of STARTEEPO, an investment group focused on public markets, long-term value creation, and constructive shareholder engagement.

He has spent his entire professional career in capital markets, developing an investment approach centered on identifying situations where market valuations significantly diverge from a company’s long-term potential.

Before STARTEEPO

Bostl entered the financial industry while still at university. At just twenty years old, he was already managing a branch of Czech brokerage firm CYRRUS with more than CZK 2 billion in assets under management. He later worked as an analyst, economist, and investment executive at Colosseum and Chytry Honza (Rockaway Capital) before founding STARTEEPO in 2017.

During his earlier career as an economist and market analyst, Bostl became one of the most frequently cited economic commentators in the Czech media, regularly providing commentary on financial markets, central banking, international economic relations, and the European economy. He appeared frequently in television and other national media and participated in professional conferences and expert panels.

Alongside his work in financial markets, he lectured at universities and was involved in a number of professional organizations and expert bodies. His memberships included the European Economic Association (EEA), the World Economics Association (WEA), and two expert committees of the Czech Capital Market Association. His academic and professional interests at the time focused particularly on international economics, central banking, European integration, and the development of European capital markets.

From Czech IPOs to Active Investing

One of STARTEEPO’s original ambitions was to contribute to the development of the Czech capital market and make public equity financing more accessible to small and medium-sized companies.

STARTEEPO subsequently participated in seven initial public offerings on the START market of the Prague Stock Exchange. Beyond advising companies through the IPO process, STARTEEPO began investing its own managed capital in selected businesses and taking a long-term shareholder perspective.

For its contribution to the Czech capital market, STARTEEPO received recognition at the 2023 European Small and Mid-Cap Awards in the Special Mention category and was named the Most Active START Market Advisor by the Prague Stock Exchange. The IPO of mmcité, on which STARTEEPO participated, was subsequently recognized at the 2024 European Small and Mid-Cap Awards.

In 2020, František Bostl was named to Forbes Czech Republic’s 30 Under 30 list.

Investment Philosophy

Bostl’s investment philosophy is rooted in fundamental analysis, long-term thinking, and the search for situations where market expectations differ materially from a company’s underlying potential.

He favors concentrated investments in businesses that STARTEEPO can understand in depth. Where the size and circumstances of an investment allow for a more active approach, STARTEEPO seeks constructive engagement with management teams, boards of directors, and fellow shareholders.

The objective is not simply to identify an undervalued security. It is to understand the fundamental drivers that can materially change the value of a business over time — and, where appropriate, to contribute to that process as an engaged shareholder.

This approach has resulted in several highly successful high-conviction investments across both European and U.S. public markets. Between 2024 and 2026 alone, these included Western Digital, generating a profit of approximately USD 2 million; Warner Bros. Discovery, with a profit of approximately USD 7.3 million; and KARO Leather, generating approximately USD 7 million in profit.

Together, these investments generated approximately USD 16.3 million in profits and rank among the most successful investment decisions in STARTEEPO’s history, reflecting Bostl’s preference for concentrated opportunities backed by deep fundamental conviction.

Xerox Holdings Corporation

In 2026, this investment approach expanded significantly into the U.S. public markets. STARTEEPO SICAV built a substantial position in Xerox Holdings Corporation, one of the most recognized technology brands in American corporate history.

After crossing the five-percent ownership threshold, STARTEEPO disclosed its intention to act as a constructive long-term shareholder and engage with the company’s leadership regarding strategy, capital allocation, and opportunities to enhance long-term shareholder value.

The investment in Xerox represents one of the most significant steps in STARTEEPO’s development to date and an expansion of an investment philosophy the group had previously applied primarily to smaller publicly traded companies in Central Europe.

Capital With a Broader Purpose

Alongside investing, František Bostl has long been interested in the broader role capital can play in society.

He was behind the creation of NEW AGE FUND, which received recognition at the 2019 SDG Awards, and later founded the VAKOVAKO Foundation. VAKOVAKO combines technology, philanthropy, and transparent giving with the aim of making it easier for individuals to support vetted charitable organizations and projects.

Bostl does not view investing and philanthropy as entirely separate worlds. Both reflect a broader conviction that capital can be used not only to create economic value, but also to contribute to lasting positive change.

Today, his work at STARTEEPO is primarily focused on investment strategy, capital allocation, constructive shareholder engagement, and identifying new opportunities across global public markets.