Investments in funds - 22.2.2010
Government-owned investment company Finnish Industry Investment Ltd has made a MEUR 10 investment commitment to a new European cross stage fund. The new fund invests in promising European fast growth technology companies, and DFJ expects the Nordic countries to be a strong area of focus. DFJ Esprit Capital, which manages the DFJ Esprit Capital III fund, has closed commitments of MEUR 85 from European institutional and public sector investors at first closing. The final target size of the fund is MEUR 150.
The new fund aims to invest in companies that have a decisive technology or business model, combined with substantial potential for growth in international markets. A typical investment will be MEUR 3-10 in one or more phases.
Portfolio companies operate in the technology, media, telecoms, medtech and cleantech sectors.
We are extremely pleased that weve managed to create a new fund in this challenging economic climate and with contributions from prominent investors. Our new fund will continue to promote the business of the best entrepreneurs in Europe, engaging our global network in the USA, China, India, Israel and elsewhere in the world, says Partner Paul Murray.
Murray is well acquainted with Finland, the Finnish technology market and its players:
We are very impressed with the quality of the technology we see in Finland, and with its potential. Deal flow from Finland is very strong and we expect to be spending more and more time in the region.
Collectively the DFJ Global Network analyses over 30,000 business plans a year. Of the Nordic countries, Finland will have some good investment opportunities for the new fund, reckons Investment Director Riitta Jääskeläinen from Industry Investment.
DFJ Esprit is a European growth-stage fund investor that focuses on Europes best growth companies in the technology, media, telecoms, medtech and cleantech sectors. The company has over MEUR 600 of capital under management and investments in currently over 35 portfolio companies. DFJ Esprit has offices in the UK in London and Cambridge, and a global network of over 150 venture capital professionals in altogether 33 cities in China, India, the USA and elsewhere. www.dfjesprit.com
Finnish Industry Investment Ltd is a government-owned investment company whose mission is to promote and stimulate Finnish business, employment and economic growth through capital investment. Finnish Industry Investment invests in growth companies, directly and through funds, together with private co-investors. Capital investments are needed for financing the growth of investee companies, internationalisation, spin-offs, major industrial investments, and sector and corporate restructurings. The targets are in all sectors. The investments of Finnish Industry Investment amount to some MEUR 640.
- Paul Murray, Partner, DFJ Esprit Capital LLP,
tel. +44 20 7 932 8953, paul.murray (at) dfjesprit.com
- Riitta Jääskeläinen, Investment Director, Finnish Industry Investment Ltd,
tel. 050 309 2733, riitta.jaaskelainen (at) industryinvestment.com