smac partners closes new secondary fund, invests in 10,

smac partners has closed its third fund smac partners Fund III, which has invested in a number of secondary transactions. The size of the Guernsey-based fund is undisclosed. This is smac partners' third fund in three years and follows nine months after the closing of smac partners Fund II. The investor of smac partners Fund III is a fund advised by UK-based Headway Capital Partners, whose advised funds where already invested in smac partners Fund II.

The fund has already acquired a portfolio of 10 companies based in Israel, the US and Finland. smac partners foresees to exit most firms via trade sales, but stated that they have a few candidates that might reach critical mass for an IPO. While most of the fund is already invested, the investor has held back sufficient funds for follow-on rounds for the existing portfolio. Dr Dietrich Ulmer, Oliver Kolbe and Dr Ingo Potthoff are responsible for the investments.

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