Verdane Capital VII, managed by Verdane Capital Advisors, announced the purchase of Eqvitec Technology Fund III (ETF III). Previously managed by former Eqvitec Partners, a Finnish venture capital firms, the portfolio consist of 12 IT, communications and industrial companies.
Within the past 10 months Verdana funds, has acquired three Finnish deals: Cumasa, a privately owned portfolio, acquired in May 2010 and was followed by the acquisition of Eqvitec Technology Fund II in November 2010, and the recent purchase of Eqvitec Technology Fund III (ETF III).
Lars B. Thoresen, Group Managing Partner at Verdane Capital, commented about the acquisition, in the company press release : "Our ambition is to establish ourselves in all the Nordic countries and the three Finnish business strengthens our position in the Finnish market. We now also open an office in Helsinki in order to expand our operations there."
He continued by adding, "We are the only venture capital firm in the North, who specialize in this type of deal in used unquoted shares. Because we can buy a large number of companies at one time, our solutions quick liquidity for the selling, "adds Bjarne Lie, Partner and CIO at Verdane Capital. "Owners of unlisted assets can in this way to balance their portfolios, but that it takes several years from decision to implementation."
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