Helsinki-based alternative investment manager CapMan has completed fundraising for the CapMan Technology 2007 fund, with a total capital of EUR142.3m making it one of the largest technolog
Helsinki-based alternative investment manager CapMan has completed fundraising for the CapMan Technology 2007 fund, with a total capital of EUR142.3m making it one of the largest technology funds ever raised in the Nordic countries.
The fund, whose investment focus is on expansion and later-stage technology companies in the Nordic countries, has already invested four portfolio companies. The turnover of portfolio companies usually exceeds EUR2m and the size of the fund’s equity investment is typically between EUR3m and EUR15m.
The fund’s four investments are in Finland’s Mawell, a supplier of IT and communications solutions to the healthcare sector, Sweden’s KMW Energi, a manufacturer of biofuel plants, Movial Applications, also of Finland, a developer of IP communications software, and Denmark’s IT2 Holding, a developer of software for the financial sector.
‘The fund’s investment activities have started actively and we are constantly analysing new investment opportunities,’ says Petri Niemi, a senior partner and head of CapMan Technology.
‘In the Nordic market, the number of quality investment targets that accord with our investment focus has remained good. We will continue to invest through active ownership in the business expansion and internationalisation of promising Nordic growth companies.’
A total of 12 Nordic institutions have invested in the CapMan Technology 2007 fund. The investment manager’s own commitment to the fund is EUR15m.
‘Fundraising for the fund was successful despite the challenging market situation, so we are very satisfied with the result,’ says Jerome Bouix, a CapMan senior partner and head of investor services.
‘Fundraising was a success due to CapMan Technology’s later-stage investment focus which has guided the team’s actions for a long time now, the team’s local presence in the Nordic countries, and CapMan’s strong performance in managing the assets of institutional investors.’
The firm manages Nordic funds with some EUR3.8 billion in total capital in four investment areas, CapMan Buyout, CapMan Technology, CapMan Life Science and CapMan Real Estate, each with its own dedicated team and funds.
Established in 1989, CapMan employs more than 100 people at its offices in Helsinki, Stockholm, Copenhagen and Oslo and has been listed on the Helsinki Stock Exchange since 2001.
