VNT Management holds first closing

VNT Management expects to announce final closing by end of next year at the latest. The fund has a five-year investment period and there are no plans for extensions. Carry and hurdle were described as in line with industry standards.

Investors
Finnish Industry Investment, FoF Growth, Finnish pension fund Varma and private investors made commitments to the fund.

Investments
Power Fund III focuses on early and growth stage technology companies primarily in Finland and in other selected European countries. The fund invests in new energy technology and focuses on power electronic applications in particular.

The vehicle will seek approximately 15 companies initially, preferably businesses that have the potential to succeed on a global scale. Investments will be carried out as minority positions.

People
Jarmo Saaranen is the chairman of VNT Management.

Advisers
Roschier, Mika Alanko (Legal).

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