Brandts Ventures

It has been announced that Birger Hauge Nielsen has resigned as CEO of Danish internet venture capital company Brandts Venture and has been replaced by the firm’s CFO, Michael Albrechtslund. The move comes after Brandts unveiled worse than expected financial results for the first half of 2001. The firm made a net loss of DKr 112.3m compared with a net loss of DKr 12.5m for the same period during 2000. Albrechtslund has been with Brandts Ventures since July 2000 and was previously employed as managing director of the investment association Investeringsforeningen Alm.Brand Invest, which he was responsible for setting up in 1997. In addition, he was portfolio manager, head of stock trading and senior analyst within Alm.Brand Børs, as well as assistant to the management at Alm.Brand A/S. He holds a BSc from the Indiana University Business School.

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