STOCKHOLM, Sept 29 Nordic investor Verdane
Capital said on Thursday it has made its first investments in
tech firms in Germany, backing search engine platform
Searchmetrics and cloud-based IT security firm Hornetsecurity,
as it broadens its reach in Europe.
The private equity investor said it had closed over 30
million euros ($33.6 million) in funding this week, acquiring
shares in Searchmetrics and Hornetsecurity from mainly German
venture capital fund Neuhaus.
"We see a major opportunity in Germany to employ our
expertise and experience gained over many years of working in
the Nordic ecosystem," Henrik Aspen, partner at Verdane Capital
Advisors, said in a statement.
"Its economy is digitising at an amazing pace and we believe
companies here can profit from our expertise," he said.
The firm said it is on the hunt for other "maturing" tech
firms in Germany which are trying to go global and is ready to
invest anywhere from 5 million to 30 million euros in companies
that fit its strategy.
Verdane has nearly 1 billion euros euros under management
across all its funds, with 320 million euros ready to invest in
its latest fund. It backs firms operating in software, consumer
internet, energy and high-tech industries.
($1 = 0.8919 euros)
(Reporting by Mia Shanley; Editing by Adrian Croft)