Ledstiernan in Japanese Alliance

Eqvitec Partners of Finland and IT provider of Sweden have announced the formation of an alliance aimed at strengthening each group’s position in the Nordic technology investment market. Although both companies will continue to syndicate deals with other Nordic and global venture capitalists, it is expected that their joint profile, which will offer enlarged global networks and more capital, should make them more attractive to investee company managers and co-investors. To begin with, the firms will exchange employees on a weekly basis, adopting each other’s best practices, co-sponsoring activities for portfolio companies and cooperating on deals together in both the Finnish and Swedish markets. In particular, the firms see great potential in financing companies that are emerging in the world leading wireless axis around local giants, such as Ericsson and Telia in Sweden and Nokia and Sonera in Finland. Between them, the companies currently manage six funds with total capital in excess of Euro 500m, with nearly Euro 250m available for new investments. In addition, both companies have raised over Euro 130m within the last six months.

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