AdAstra fund sale

AdAstra fund-managers Ulrich Clemm and Thomas Krueger have purchased HypoVereinsbank's holding in the Munich-based venture capital fund AdAstra Erste Beteiligungs GmbH (AdAstra). The two fund managers already held a stake in AdAstra prior to the transaction, which came about as a result of HypoVereinsbank's increasing concentration on its core business within its corporates & markets division. AdAstra has invested over E40m in European and American technology companies. The company became known to a broader public through the investment and successful sale of its holding in SuSE Linux AG to Novell Inc.

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