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.”