Verdane has closed its Verdane Edda with SEK3 billion in capital commitments. The fund will look to invest in fast-growing companies within software, consumer internet and more traditional sectors where digitalisation can be a key driver of success.
“Verdane has significant experience supporting management teams in accelerating and sustaining growth, especially where digitalisation is a key driver. Verdane funds have invested in over 170 companies within software and consumer internet over the last 15 years, and we now look forward to harnessing our extensive expertise with Verdane Edda. The new fund further strengthens our position as the leading pan-Nordic investor in our target segments,” says Bjarne Lie, Managing Partner at Verdane.
Verdane Edda will generally aim to take controlling stakes in single companies, but minority positions may also be relevant. The fund will target individual investments reaching up to SEK500 million.
“Verdane funds act as ambitious, active owners, helping local companies become regional champions, or Nordic firms become global,” says Henrik Aspén, Group Partner at Verdane. “Our advisory team has been strengthened with key hires, Jakob Tolleryd and Johnny Rindahl, who are experts in e-commerce and software respectively. Together they add to our pan-Nordic team’s unrivalled technology sector capabilities and proven track record in driving business value.”
Verdane has helped core companies of Verdane Capital funds achieve revenue growth of over 90 per cent on average during the funds’ ownership period. Verdane promotes network building and knowledge sharing between Verdane fund investments, through peer to peer mentoring, CEO days on key topics and regular sector luncheons to discuss challenges and share best practice ideas.
“Having worked with Verdane as a CEO and founder prior to joining the Verdane Edda team, I have seen first-hand how it operates as a strong partner to the Verdane funds, co-owners and management. The Verdane team has a high level of expertise and experience that makes it an invaluable ally to fast-growing companies seeking to improve and expand their businesses,” says Jakob Tolleryd, Partner at Verdane Edda.
Verdane Edda was heavily oversubscribed and closed at its hard cap, with 60 per cent of investors coming from outside the Nordic region. The fund received commitments from leading global university endowments, foundations, insurance companies, family offices, government agencies, as well as private and public pension funds. Over 50 per cent of the capital was from non-profit investors.
“We are grateful for the support from our investors, who support our mission of unlocking the substantial growth potential within a fast-growing ecosystem of Nordic technology enabled growth companies,” says Bjarne Lie.
Verdane Edda was advised by London-based Rede Partners, an independent fundraising and secondary advisor to the private equity industry, and Andulf Advokat, a Stockholm-based boutique law firm, specialising in private equity.
