Investments in companies - 1.6.2009
Finnish Industry Investment Ltd has made a MEUR 9,7 commitment to the new Verdane Capital VII K/S fund, a fund buying portfolios of direct investments. The fund acquires stakes in companies by buying portfolios of direct investments from other investors in order to develop business potential of the portfolio companies. The funds capital at first closing amounted to about SEK 650 million (approx. MEUR 63) and the target size is SEK 1 1.5 billion (approx. MEUR 97 146). The other large investors in the fund are Norwegian Argentum and Kommunal Landspensjonskasse Mutual Insurance Company.
Verdane seeks portfolios of direct investments in unlisted companies. The fund advisor, Verdane Capital Advisors, developes actively these companies by utilising the expertise of its investment professionals, sound boardwork and close cooperation with the companies managers in order to implement the best strategy for each company. The fund advisor has a wide international network that portfolio companies can exploit to develop and expand further.
After operating in the private equity secondary direct markets in Sweden and Norway since 2003, Verdane is now expanding into Finland and Denmark.
Verdanes arrival in Finland is a welcome addition to the market. The Finnish venture capital and private equity market has evolved to the point where an active secondary market can help to further develop companies. A secondary investor with the time and resources is able to lead the companies with growth potential along the path to success, comments Anne Riekki, Investment Manager at Industry Investment Ltd.
We hope that Verdane will find interesting portfolios from Finland. The portfolio companies can cover a broad spectrum of industries and be in different stages of their lifecycles.
Verdane Capital funds are a leading Nordic buyer of portfolios of direct investments. To date, Verdane Capital funds have completed eleven transactions involving significant Nordic portfolios. Portfolio owners are typically private equity and VC funds, non-financial corporations, financial institutions and private individuals.
Verdane Capital Advisors is a fund management company, advising funds specialised in private equity secondaries, and the Nordic leader in this sector. The Verdane fundsacquire stakes in companies by buying portfolios of direct investments or via direct venture capital or micro cap buyout transactions. Acting on behalf of the funds, Verdane Capital Advisors has to date executed eleven direct investment portfolio transactions, making it a leading player in Nordic portfolio acquisitions. For 25 years, Verdanes team of professionals has assisted small and mid-sized growth companies realise their full potential. The company advises funds totalling over MEUR 400 with a current portfolio of more than 100 companies. www.verdanecapital.com
Finnish Industry Investment Ltd is a government-owned investment company that invests the proceeds accrued from the privatisation of state-owned companies in funds and directly in growth companies. Capital investments are needed for financing growth, internationalisation, spin-offs, major industrial investments, and sector and corporate restructurings. Investment targets are in all sectors. The company co-invests with private investors, limiting its investment to at most one-half of the capital invested and ownership. The investments of Finnish Industry Investment amount to over MEUR 570. www.teollisuussijoitus.fi
- Anne Riekki, Investment Manager, Finnish Industry Investment Ltd,
mobile +50 337 4434, anne.riekki (at) industryinvestment.com