The largest and fastest-growing chain of private museums originally founded in Croatia, the Museum of Illusions, is entering a new phase of development through a strategic acquisition by the U.S.-based investment firm Brightwood Capital Advisors. The transaction marks a significant step in the brand’s continued global expansion and further validates its long-term market value and international growth potential.
Brightwood Capital Advisors was selected as a partner due to its strong strategic alignment with the Museum of Illusions’ long-term vision, as well as its deep understanding of the franchise-based business model that has underpinned the brand’s success to date. The partnership will enable accelerated expansion into new markets, increased investment in innovation, infrastructure, and operational capabilities, while preserving the brand’s identity and core values.
“This strategic acquisition confirms the value of the brand we have built from Zagreb and its long-term global potential. Partnering with an investor such as Brightwood allows us to accelerate international expansion, further invest in innovation and infrastructure, and continue strengthening our position as the world’s leading brand in experiential entertainment, while preserving our business model and identity,” said Tomislav Hlupić, Chief Financial Officer (CFO) of the Museum of Illusions.
The ownership change follows more than a decade of strong and consistent growth. During this period, Metamorfoza, the Croatian company that manages the Museum of Illusions and is headquartered in Zagreb, successfully built and globally positioned the brand as a leader in the edutainment segment—combining education and entertainment. The Museum of Illusions was conceived by founders Tomislav Pamuković and Rok Živković and rapidly evolved into an internationally scalable and commercially attractive business model.
Today, the Museum of Illusions operates nearly 70 locations across 27 countries and five continents, with a particularly strong presence in the North American market. The museums attract millions of visitors annually, offering unique experiences for all generations through recognizable interactive illusions, innovative exhibits, and a high level of experiential value. Since its founding in Zagreb in 2015, the brand has established itself as a global leader among private museums focused on experiential entertainment.
The entry of Brightwood Capital Advisors comes at a time when the Museum of Illusions has reached a level of global maturity that requires additional investment and expanded infrastructure. The investment partner provides access to capital, international expertise, and strategic operational support necessary for accelerated growth, further market expansion, and continued brand development—while maintaining the proven and successful business model.
The company’s global headquarters will remain in Zagreb, while the operational hub for the U.S. market will continue to operate out of Scottsdale, Arizona, reflecting both the brand’s strong European roots and its robust growth in the United States. The existing management team in Croatia and the U.S. remains in place, led by Chief Executive Officer Kim Schaefer, and will guide the next phase of global development. The development of new illusions and exhibits will continue in Oroslavje, led by the company’s research and development team.
As part of the transaction, five existing franchise museums in the United States—located in Boston, Chicago, Pittsburgh, Philadelphia, and Scottsdale—will transition to corporate ownership, further strengthening the brand’s operational presence in one of its key markets. Investment fund Invera Equity Partners will remain a minority shareholder.
“The Museum of Illusions is one of the few Croatian projects that has grown into a globally relevant brand with a clearly defined business model and sustainable growth. We see the entry of Brightwood Capital Advisors as a logical and powerful step into a new phase of development, while preserving the brand’s values and identity,” said Slaven Kordić, Partner at Invera Equity Partners.
Beth Steinberg, Strategic Partner at Brightwood Capital Advisors, highlighted that the Museum of Illusions represents an exceptionally strong global concept with a proven business model and experienced leadership, noting that the investment is focused on long-term development, expansion into new markets, and further strengthening the quality and reach of the brand.
Plans for the upcoming period include opening new locations in London, Sacramento, Mexico City, Geneva, Hong Kong, Birmingham, Cologne, and Melbourne, continuing one of the most successful international expansions of any Croatian brand. This strategic acquisition further demonstrates that Croatian companies—supported by strong concepts, quality management, and long-term vision—can grow into globally relevant and highly valuable business platforms.