Press release - 2 April 2007
New commitments to CapMan Technology 2007 fund
The capital in CapMan Technology 2007 fund has increased to EUR 127 million following its second fundraising round. Mr Stein Revelsby has been appointed as Industrial Advisor and Mr Jarkko Virtanen as Senior Advisor to CapMan’s technology team and Mr Janne Martola has been appointed as Investment Director.
The capital in CapMan Technology 2007 fund has increased to EUR 127 million as a result of new commitments. The fund was established in February 2007 at EUR 110 million, and its target size is EUR 150 million. The investment focus of the new fund is on expansion and later stage technology companies in the Nordic countries.
“The fundraising of CapMan Technology 2007 has proceeded well, and we continue the fundraising to reach the targeted fund size. We are also delighted to welcome our new advisors, Stein Revelsby and Jarkko Virtanen, to our team. Because of the new fund and our strengthened team we are in a very good position to pursue our operations in the Nordic technology market,” states Petri Niemi, Head of CapMan Technology and Senior Partner.
Norwegian Stein Revelsby, MBE, has been nominated as Industrial Advisor as of 19 March 2007. He is a partner and co-founder of Norden Fondsmeglerforretning AS, an investment banking firm focused on the European technology and energy sectors. Mr Revelsby has more than 15 years of international investment and M&A experience, and has focused specifically on the technology sector since 1992. He has an extensive international network within venture capital and private equity communities. Formerly Mr Revelsby was partner in Frontier, a listed Norwegian investment company active in the oil and gas drilling market.
Finnish Jarkko Virtanen, M.Sc. (Eng), has been nominated as Senior Advisor as of 1 March 2007. He brings over 20 years of international management experience in the ICT sector. Before CapMan, Mr Virtanen worked as Partner and Director for 3i. Prior to his venture capital career, Jarkko was a management consultant in IBM Global travel and transportation industry and deputy director of the Finnish CAA, being in charge of Finnish Air Traffic Control ICT systems development and operations. He served also as a management and planning consultant for ICAO in civil aviation infrastructure development in Asia.
Finnish Janne Martola, M.Sc. (Eng.), has been nominated as Investment Director as of 1 April 2007. Mr Martola joined CapMan in 2000, and specialises in Internet and mobile communications technologies and networks as well as related software products. Since joining CapMan, he has been involved in several technology investments and in internal development projects. Previously, Janne worked for Nokia Telecommunications in diverse system marketing and software product development positions.
CapMan has made technology investments since 1995 and its technology team is one of the most experienced in the Nordic countries. The team’s investment professionals work closely with portfolio company management with the aim to grow the businesses and improve their profitability and strategic positions. Examples of CapMan Technology’s current portfolio companies include Finnish provider of software testing and development Flander Oy, Swedish provider of radio network solutions Avitec AB, Norwegian provider of vehicle fleet management systems Locus AS and Danish developer of electronic document management systems ScanJour A/S, among others.
For further information, please contact:
Petri Niemi, Head of CapMan Technology, Senior Partner, tel. +358 9 6155 8346 or +358 400 511 493
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