Verdane Capital Advisors, the Nordic region’s largest specialist in advising secondary direct funds and the exclusive investment advisor to Verdane Capital VII (Verdane), today announced the purchase by Verdane of 100% of the Danish fund Nordic Venture Partners I. The Nordic Venture Partners fund portfolio consists of four direct assets; CRF Health, Saxotech, Octoshape and Excitor, with the most significant of the four being CRF Health and Saxotech.
CRF Health is a service provider to the life science industry, focused on providing technology for patient reporting in clinical trials (for example via smartphones and tablets). The company was founded in Helsinki in 2000 and it is now one of the top three players in the world in its field.
Saxotech provides content production and distribution solutions for the newspaper industry. The company was founded in Aalborg, Denmark in 1993 and has successfully expanded into North America from its base in Northern Europe.
Octoshape and Excitor are both headquartered in Denmark. Octoshape’s core business is video streaming services and Excitor’s main activities are mobile device management, mobile email and ‘business mobilisation’ solutions.
“We are very excited about Verdane funds’ first investment in Denmark; we have been looking for suitable acquisitions in Denmark for a while and are very pleased with the opportunity and the interesting companies acquired today” says Verdane Capital Advisors’ Managing Partner Lars B. Thoresen.”Verdane’s goal is to always deliver more than capital. The funds have a track record of doing this in 18 transactions to date, with the investment in Nordic Venture Partners being the 19th in the Nordic Region. As part of the acquisition, we have worked in close cooperation with the management of Nordic Venture Partner I funds to ensure the continued development and success of the Danish portfolio.”
The fund Nordic Venture Partners I was backed by nine different investors including significant Danish investors such as ATP, PensionDanmark, Danske Bank and Sampension.
“Although Verdane Capital Advisors has a sizeable team, we are still small enough to work as a single team and deploy the best resources to meet each challenge together with company management” says Verdane Capital Advisors’ Partner Pål Malmros. “Verdane is always represented on the board of the funds’ key portfolio companies to make sure the appropriate strategy is implemented for each company for its continued growth and success.”
Nordic Venture Partners I consists of two different vehicles (Nordic Venture Partners K/S and Nordic Venture Partners Seed K/S), and was established in 2000 as a Dkr 1.5bn expansion capital and early stage fund. Verdane Capital Advisors has followed Nordic Venture Partners for a number of years and in December 2012 Verdane offered the Limited Partners of Nordic Venture Partners I, the option of selling their interests to Verdane or continuing their investments in the fund. Continuing the work with the original investors in an investment partnership marks one of the differentiating factors that have set Verdane funds apart and have marked one of the parameters of the funds’ success in the Nordic market.
About Verdane
Verdane is a specialist growth investment firm that partners with tech-enabled and sustainable European businesses. Verdane can invest as a minority or majority investor, either in single companies or through portfolios of companies, and looks to deploy inside two core growth themes; digitalisation and decarbonisation.
Verdane funds hold over €6 billion in total commitments and have made over 400 investments in fast-growing businesses since 2003. Verdane’s team of over 140 investment professionals and operating experts, based out of Berlin, Munich, Copenhagen, Helsinki, London, Oslo and Stockholm, is dedicated to being the preferred growth partner to tech-enabled and sustainable businesses in Europe.
Verdane is also a certified B Corporation, the most ambitious sustainability accreditation globally. The firm only backs businesses that pass its 2040 test, which indicates whether the company can thrive in a more sustainable future economy.
Verdane is partly owned by the Verdane Foundation, which is focused on two areas: climate change and more equitable and inclusive local communities.
More info: www.verdane.com
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