STOCKHOLM, Sweden, Jan. 15, 2003 (PRIMEZONE) -- IT Provider, a leading venture capital firm in the Nordic market, today announced the successful first closing of IT Provider Fund IV, with signed commitments of approximately SEK 1.2 billion (EUR130 million). IT Provider has secured commitments from prominent existing investors including the Sixth Swedish National Pension Fund and interests associated with the Rausing family as well as new investors including ATP Private Equity, the European Investment Fund and the Third Swedish National Pension Fund.

"We increase our commitment to IT Provider as we consider the Nordic technology market to be of great interest in the coming years. Having worked with IT Provider in its previous fund, we also know the team is one of the most experienced in the market, and we are pleased to support their continued growth," commented Mats Augurell, head of Technology Ventures at the Sixth Swedish National Pension Fund.

IT Provider differentiates itself from other venture capital firms in its area by successfully commercialising innovative technologies through the combined input of its integrated network and venture experience. IT Provider seeks to make equity and equity-related early and expansion stage investments, concentrating on the Information, Communication and Technology (ICT) sector throughout the Nordic region, but primarily in Sweden and Finland.

"We are excited about the opportunity to invest in Nordic technology firms through IT Provider and the potential co-investment opportunities it may create in the future," commented Jens Bisgaard Franzen, head of ATP Private Equity Partners.

Francis Carpenter, the Chief Executive of the European Investment Fund, is pleased with the commencement of the cooperation with the renowned IT Provider team and other high class investors participating in the first closing, adding, "Based on our comprehensive assessment of and presence in the various European VC markets, IT Provider with a proven international investment approach will be a unique channel to identify and develop productively high tech SME companies in the advanced Nordic ICT market."

IT Provider has become the largest and most experienced VC firm focusing on ICT in the Nordic region with more than 30 fully realised investments. Currently, IT Provider advises three different investment funds, having raised a total of SEK 2,500 million (EUR 277 million) since 1992. Spyder Technology Holdings B.V. (ITP I) was started as an investment company and reinvested capital gains of approximately SEK 500 million (EUR 55 million). IT Provider Millennium Fund L.P. was established in 1999 with SEK 800 million (EUR 88 million) and IT Provider Fund 2000 L.P. was established in 2000 with SEK 1,212 million (EUR 134 million). IT Provider currently manages 34 portfolio companies in the areas of communication technologies, software and enabling technologies.

"I am very pleased that we managed to attract so many high quality investors to the new fund. During my more than fifteen years of investing and reviewing investment opportunities, I have rarely experienced a more fascinating investment environment with investment opportunities at attractive prices and a rapidly consolidating investor market," stated Johan Hernmarck, Founder and Managing Director of IT Provider Adviser 1 AB.

IT Provider Adviser 1 AB, Hamngatan, 13 S-111 47, Stockholm, Sweden

Or visit the Website at www.itprovider.com

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IT Provider
Johan Hernmarck, Founding Partner
+46 70 520 6060


Lars Johansson, Senior Partner
+46 70 640 2090


Gosta Johannesson, Partner
+46 8 614 00 13