Energy Ventures secures NOK 85m top-up

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Fund

Norwegian venture capital firm Energy Ventures has raised NOK 85m for a top-up fund for its Energy Ventures II KS fund. The top-up fund will support portfolio companies in the Energy Ventures' second fund, which closed in April 2005 on NOK 589m and is now fully invested.

Investors

Existing investors Argentum, Gjenside Forsikring and KLP contributed NOK 68m of the total subscriptions. Other investors included Jebsen Asset Management, Mobelmagasinet, DnB NOR, Solstad Invest, T D Veen, Melberg Investment, Intervest, Redback and Taxus.

Investments

The fund focuses on venture stage technology in the upstream oil & gas sector and has made eight investments: ARKeX, DeepFlex, Stingray Geophysical, Ziebel, PanGeo Subsea, Cubility, Ingrain and Sigma Offshore.

People

Ole Melberg is the managing partner of Energy Ventures.

Name: Energy Ventures II KS (top-up)

Closed on: NOK 85m (top-up)

Focus: Venture, technology, oil & gas

Contact: Ole Melberg

Address: Kongsgaardbakken 1

4005 Stavanger

Norway

Postal address: PO BoAx 207

4001 Stavanger

Norway