smac partners closes new secondary fund

01 January 2009

Tweet
Facebook
LinkedIn
Google plus
Send to

Fund

smac partners has closed its third fund, smac partners Fund III, which has invested in a number of secondary transactions. The size of the fund is undisclosed, but terms and conditions, as well as the GP contribution, are described as standard. The fund is based in Guernsey, with SJ Berwin and Tulchinsky Stern advising. This is smac partners' third fund in three years and follows nine months after the closing of smac partners Fund II.

Investor

The lead investor of smac partners Fund III is a fund advised by UK-based Headway Capital Partners, whose advised funds were already invested in smac partners Fund II.

Investments

The fund's main targets are fast-growing companies in the IT and telecommunications industries. The fund has already acquired a portfolio of ten companies based in Israel, the US and Finland. There are four Finnish firms, one of which is CRF Inc, which is active in electronic patient reported outcomes and wireless data collection solutions that allow patients who are involved in drug trials to wirelessly feedback on their situation, health and wellbeing. The technology has already attracted interest from various first-tier biopharmaceutical companies. smac partners expects to exit most firms via trade sales, but stated that they have a few candidates that might reach critical mass for an IPO. While most of the fund is already invested, the investor has held back sufficient funds for follow-on rounds for the existing portfolio.

People

Dr Dietrich Ulmer, Oliver Kolbe and Dr Ingo Potthoff are responsible for the investments.

Name: smac partners III

Closed on: n/d

Focus: Secondaries, venture, US, Israel, Europe

Contact: smac partners GmbH

Address: Ottobrunner Str. 41, 82008 Unterhaching, Germany

Tel: +49 (89) 55 06 88 0

Fax: +49 (89) 55 06 88 50

Advisers: SJ Berwin (Legal); Tulchinsky Stern (Legal).