Sunstone holds first close on €85m

The vehicle has a target of €100m and final closing is expected in 2012. Investments will be made over a five-year period.

Based in Copenhagen, Sunstone has approximately €580m in funds under management, invested in 49 companies. The GP focuses on the development and expansion of early-stage technology and life sciences businesses. The technology investment division, Sunstone Technology Ventures, currently manages investment in 20 portfolio companies from its two existing funds.

Investors
The European Investment Fund, Dansk Vaekstkapital, Idustriens Pensions and Vaekstfonden have invested in the vehicle alongside others.

Investment
Sunstone Technology Ventures invests in early-stage companies within software, web services, e-commerce and gaming in the Nordic area and Central and Eastern Europe. The division currently manages investment in 20 companies from two funds. The third fund expects to more than double the number of portfolio companies under Sunstone Technology Ventures' management with investment in 25 additional firms over the next five years.

People
Jimmy Fussing Nielsen is managing partner at Sunstone Technology Ventures. Lars Nørby Johansen is chairman of the board at Dansk Vaekstkapital.

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• Sunstone Capital A/S