Verdane Funds acquire portfolio of ten internet companies from Aggregate Media

25 Apr, 2014

Verdane Funds (Verdane), the leading secondary direct investor in the Nordics, acquire a portfolio of ten Swedish internet companies from Aggregate Media. This is Verdane’s fourth acquisition from Aggregate Media since 2006 and the 22nd portfolio acquisition in total.

Verdane Capital Advisors is one of the prominent investment advisors in e-commerce and the leading advisor in portfolio transactions (i.e. secondary directs) in the Nordics. Verdane Capital Advisors plans to use its deep knowledge of e-commerce to develop the ten new companies by, for example, expanding geographically, streamlining logistics, improving user interfaces and enhancing pricing and product line strategies. Verdane funds have been investing in e-commerce since the mid 2000s and have seen success in recently realised companies such as LensOn and Compricer.

“Geographic expansion is often a natural evolution for e-commerce companies that Verdane funds acquire. In many companies it is, however, just as important to focus on core products and not fall for the temptation of broadening the offering too much” says Staffan Mörndal, Partner at Verdane Capital Advisors. ”Because Verdane funds have invested in over 25 e-commerce companies we can go in on day one with lists of over 100 points to help the companies find the right expansion strategy.”

The transaction with Aggregate Media is a good example of how Verdane can unlock value by providing sector expertise and capital to a number of assets at once. Aggregate Media gives companies media space in exchange for company ownership, but does not have the scope to make follow-on capital investments. Verdane can provide liquidity for several assets at once and is hence an attractive buyer. In turn, Verdane can cherry pick assets from a broad portfolio and select companies in which it can make the most significant impact.

“We are very pleased to be closing this transaction with Verdane funds. We know that the companies are in a phase where they can benefit tremendously from Verdane Capital Advisors’ broad knowledge within e-commerce” says Patrik Rosén, CEO at Aggregate Media.
 
For more information, please contact:
Frida Einarson, frida.einarson @ verdanecapital.com or +46 702 44 20 83
 
About Verdane and Verdane Capital Advisors
Verdane Capital Advisors is the Nordic market's largest and most successful independent manager of secondary direct funds. Verdane funds have more than Skr 5bn in committed capital and is focused on buying Nordic portfolios of direct investments in attractive sectors such as energy, ICT and general industries. The funds will also consider investments directly in selected growth-stage companies.
Since 2003, the funds advised by Verdane Capital Advisors have acquired 22 portfolios with stakes in over 250 companies. Verdane has invested in companies such as Mathem, BytHjul, Resman and Wireless Maingate. Former holdings include Coding Technologies, Chipcon, DIBS, Nacre, Reslink, Reslab and Tradedoubler. For more information, please visit www.verdanecapital.com.
 
About Aggregate Media funds
Aggregate Media was founded in 2002 and has invested with media space as expansion capital in over 100 Swedish start-ups through their funds I-IV. The funds are owned by number of Sweden’s largest media organizations. Please see www.aggregatemedia.com for more information.