The fund Verdane Capital VII has closed a secondary direct transaction with the Limited Partners of Eqvitec Technology Fund II. Under the deal, Verdane Capital VII acquires interests from a number of Limited Partners and Verdane Capital Advisors takes over management of the fund, on behalf of Verdane Capital VII and the existing Limited Partners. The fund’s name will change to Verdane ETF II SPV. As part of this transaction, follow-on capital is set aside for compelling investment opportunities in the fund’s holdings and the lifetime is extended beyond the current 10 years. Eqvitec Partners remains an investor in the fund.
About Verdane Capital Advisors
Verdane Capital Advisors has 25 years experience in the venture capital and private equity market. The company’s primary focus is on acquisition of portfolios of unlisted companies, but Verdane Capital funds also selectively invest directly in medium-sized individual companies. Active funds stand at nearly €500 million, with a total of approximately 100 holdings in five different funds. Verdane Capital Advisors has 15 investment professionals in offices in Oslo and Stockholm. Current investments include BytHjul, C3, Mathem, Resman, SmartMotor, Vector, Wireless Maingate and Åkerströms. Examples of earlier investments are Coding Technologies, Chipcon, Nacre, Opera Software, Reslink and TradeDoubler. Visit www.verdanecapital.com for more information.
Eqvitec Partners is one of the largest technology oriented private equity firms in Northern Europe. The company was founded in 1997 and has offices in Helsinki and Stockholm. Eqvitec Partners is the advisor of two funds with a total capital base of approximately €200 million. During the last 12 years Eqvitec funds have invested in more than 80 companies and carried out over 50 exits. Successful exits from Eqvitec Technology Fund II include Genimap (merged with Affecto and exited through IPO), SmartTrust (trade sale to a German industrial company) and Teletekno (trade sale to a Finnish industrial company). Visit www.eqvitec.com for more information.