In the Press
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In the Press |
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THE HERRING TAKE: According to one of the founders of European Equity Partners (EEP), Hans Blomberg, the fund has invested in eight deals so far, five in Sweden and three in the U.K. "Sweden is a good source for technology companies since there are strong technical universities and entrepreneurs coming out of companies such as Ericsson and Telia," says Mr. Blomberg, himself a Swede. "We complement local funds in these countries since we have more international experience," he adds. The London-based fund is also targeting companies in the U.K., particularly in the optical networking space with entrepreneurs in this area coming out of universities like Cambridge and Oxford. Mr. Blomberg, who joined EEP from Merrill Lynch where he was vice president of mergers and acquisitions, expects the $49 million to last 2 years and to be invested in more than 20 companies. He started getting involved in early stage ventures when he bought out Gacell Laboratories from its Swedish parent company, Pharmacia. The fund has four partners with four companies per partner. "We spend several days a week in each portfolio company," Mr. Blomberg says. Investors in the fund include Swiss Partners Group, OFIVALMO, a French insurance industry hedge fund, a Swedish banking group, institutional investors from Denmark, Sweden, and Germany, as well as private investors from across Europe and the U.S. |
