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Date:
9 October 2000
European
Equity Partners Launches Euro 53 Million European Technology Fund
London, 9th October 2000: Opportunities for high growth technology
and service companies have been boosted by the announcement of a new investment
fund from European Equity Partners. The Euro 53 million fund is targeted
at companies in Northern Europe and particularly Scandinavia who are seeking
their first round of external funding. Typical investments range from
Euro 1 to Euro 5 million.
EEP provides capital and hands-on management support to enable entrepreneurial
companies to expand their international activity quickly and effectively.
With offices in London and Paris and representation in Stockholm, EEP
offers international experience and expertise to its investee partner
companies.
EEP brings together a team of seasoned management professionals who blend
operational and investment skills. The founders, Hans Blomberg and David
Kauffmann both have more than 10 years of private equity experience spanning
Europe and the USA. Prior to his private equity career, Hans was Vice
President of Mergers and Acquisitions at Merrill Lynch International,
based in London. David was a founding partner in CAI, a $150m US private
investment fund based in New York.
The EEP team is completed by Fredrik Adams, who formerly served in principal
and corporate finance at Nomura and was part of the turn-around team at
Head Sports, Sulu Hegde, formerly a specialist in strategy and business
development with McKinsey & Co. and with operational experience in partner
development and product marketing at Hewlett Packard and ICO Global Communications,
and Neil Boughton, a former Director of Ernst & Young's entrepreneurial
business group. An international advisory network of industrialists, entrepreneurs
and visionaries from companies including Cisco, Lucent, Oracle, CNRS,
Telefonica, and Dell Computer complements the core team.
Commenting
on the launch of the Fund, EEP's Hans Blomberg said, "Our strategy
is to find the brightest and best technology and service innovations coming
to market. To provide this we are forging close links with entrepreneurs
in large organisations and the leading academic institutions in Europe.
Combined with this strategy, our specific knowledge of Scandinavian entrepreneurial
activity and the depth and breadth of technological innovation in that
market offers our investee partners and ourselves a perfect opportunity
to generate high value from our involvement.
" We work with local venture capitalists and business angels to support
the existing business of our investee partners and help them to grow.
We provide our own capital, a wealth of both financial and operational
business experience and access to international capital resources, all
aimed at accelerating activity on an international scale.
"We have a very hands-on approach. Unlike many investment organisations
who can average up to 12 companies per investment manager, we have a maximum
of 4 companies each. This allows us to maintain a high level of involvement
with our investee partners, bringing to bear the skills and experience
of both the core EEP team and our international advisory network."
Investors in the EEP Fund include the leading European investment group,
Swiss Partners Group, OFIVALMO, a major French insurance industry hedge
fund, a major Swedish banking group, institutional investors from Denmark,
Germany and Sweden and a range of high profile private investors from
across Europe and the US.
Since the first closing of EEP in September 1999, the fund has invested
in 8 companies primarily in Sweden and the UK: e-exchange, Gatespace,
Incirco, Prenax, Transmode, Webforia and Whatsonwhen.
- ENDS -
For more information, contact:
Hans Blomberg, European Equity Partners Tel: +44 20 7629 9992
David Kauffmann, European Equity Partners Tel: +44 20 7629 9992
Jonathon Howard Tel: +44 7050 127 960
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