CapMan Technology 2007 closes on EUR142m

01 February 2008

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Fund

CapMan Technology 2007 has closed on EUR142.3m, nearly reaching its EUR150m target. The vehicle employs a 10+1+1 structure and is based on a Guernsey fund. The fund held a first close in February 2007 on EUR16m. The GP is pleased to have formally closed the fund and conducted a successful fundraising process despite challenging market conditions of late. Ashurst in London provided legal advice for the fund.

Investors

There was no cornerstone investor in the fund, but a total of 12 Nordic institutional investors have made contributions. Roughly 50 private investors also invested through a feeder fund. Minimum subscription to the fund was EUR5m, and CapMan Plc committed EUR15m.

Investments

The vehicle is looking to make investments in expansion and later-stage technology companies. It has already employed 20% of the capital by investing in four Nordic companies. Mawell Oy received an EUR8m financing round in October 2007 (October 2007, page 34). The vehicle together with SEB Venture Capital and Aloe Private Equity acquired an 80% stake in KMW Energi in June 2007 (July/August 2007, page 28). Movial Applications Oy received an expansion investment in May 2007 (June 2007, page 34), and de-listed IT2 Holding from the Copenhagen Stock Exchange for EUR12.5m the same month (June 2007, page 38).

People

Petri Niemi, head of CapMan Technology and senior partner, is the main manager of the fund and is based in Finland.

Name: CapMan Technology 2007

Closed on: EUR142.3m

Target: EUR150m

Focus: Later-stage/expansion technology companies

Contact: Petri Niemi

Address: CapMan Plc, Korkeavuorenkatu 32, 00130 Helsinki, Finland

Tel: +358 207 207 500

Fax: + 358 207 207 510

Advisers

Ashurst (Legal).