Nexsan Corporation

First Gen-e Venture Capital Fund has invested Euro2.2m in Nexsan Corporation. The fund, advised by Lugano-based Gesfid SA, has acquired a 16.82% stake of the company’s equity.CompanyFounded in 1999, Nexsan Corporation employs in the region of 40 staff and is headquartered in Los Angeles with offices and subsidiaries in San Diego, Atlanta, London, Munich, Oslo and Washington DC. Nexsan Corporation, an engineering design and manufacturing technologies company, creates and delivers storage-centric hardware and application-based solutions to professionals in the digital storage industry. These solutions include hardware and software. Nexsan is expected to generate sales of Euro9.5m and negative EBITDA of Euro3.6m this year. Sales of Euro73.1m and EBITDA of Euro19.9m have been forecast for 2002.Funds raised in the current round will be used as part of the company’s ongoing research and development and to build market share.

Giovanni Saladino, Domenico Grassi and Luca Duranti coordinated the deal on behalf of First Gen-e Venture Capital Fund. Saladino and Grassi represent First Gen-e’s interests on Nexsan’s board.

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