NORWAY - NVCA reports strong growth in Norway

The Norwegian Venture Capital Association has released its annual statistics on the Norwegian market for 2006. In 2006, there were 15 new funds established with NOK 11.4bn of new capital raised. The association also reported a 75% increase in the amount of capital raised by companies in 2005, with the highest increase in buyouts and seed investments. In contrast to other European countries, pension funds and financial institutions are not the largest investors in private equity in Norway, accounting for just 40% of funds raised. Corporate and private investors dominate raised capital. According to the report there is more than NOK 21bn of capital still looking to be invested. While there has been strong fundraising activity in 2006, 2007 is expected to see less fundraising and more investing.