September 29, 2016 / 10:32 AM / 10 months ago

Nordic investor Verdane makes first investments in German tech firms

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STOCKHOLM, Sept 29 (Reuters) - 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)

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