Tenzing hires Gottås ahead of Nordic expansion

Magnus Gottas of Tenzing — Magnus Gottås, Tenzing

Harriet Matthews
29 September 2021

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London-headquartered Tenzing has announced that it intends to increase its investment activity in the Nordic region, hiring Magnus Gottås to head the expansion.

Tenzing invests in technology-focused companies valued at EUR 10m-200m, focusing on the UK and northern Europe.

The GP has historically made platform investments solely in the UK. Tenzing made its first Nordic deal via The Ticketer Group, which acquired Norwegian market peer Fara in December 2019; the GP said in a statement that it has seen an increase in opportunities in the region since then.

Gottås has experience in investing in Nordic growth companies, Tenzing said in a statement. He has prior experience with Nordic Capital and Bridgepoint.

Tenzing is currently deploying equity via Tenzing Private Equity II, which held a final close in June 2020 on GBP 400m. The fund generally deploys equity tickets of GBP 20m-25m and can provide follow-on capital of up to GBP 30m.

The vehicle has made two platform deals to date, both of which were made in 2021, according to Unquote Data. Tenzing acquired cybersecurity software MetaCompliance in January 2021, followed by audit, tax and business support services provider Jeffreys Henry the following month.