CapMan Life Science IV fund held its final closing today at EUR 54 million. The
fund invests in medical technology and service companies mainly in the Nordic
countries.
A total of eight institutional investors joined CapMan Life Science IV, and of
the investors three were new investors in CapMan funds. CapMan Plc's own
commitment to the fund is EUR 10 million.
“We are pleased with the fundraising outcome and especially happy for having
been able to expand our life science investor base outside the Nordic countries
and to welcome new investors to the fund. During CapMan Life Science IV's
fundraising period the investor appetite has mainly been directed at buyout
funds and the investors' venture allocations have been limited,” states Jerome
Bouix, Partner and Head of Fundraising, IR and Communications.
CapMan Life Science IV is the largest life science fund managed by CapMan so
far. Its investment focus is in medical technology and service companies mainly
in the Nordic countries. CapMan Life Science IV has already made investments in
three companies. Neoventa Medical AB is specialised in fetal monitoring in
perinatal healthcare, ProstaLund AB manufactures devices for treatment of benign
prostatic hyperplasia and QuickCool AB develops a new method for quick cooling
of the brain to prevent brain damage. CapMan's Life Science team has invested
altogether in 18 companies and exited from nine of them. The team participates
in the development of portfolio companies for example through Board work.
”The new fund has started investment operations very actively and the number of
potential investment targets within the fund's investment focus has remained at
a good level both in terms of quantity and quality. Our team sees over 80% of
the Nordic investment opportunities within the fund's focus and a significant
number of potential deals coming from the rest of Europe. In the next few years
the fund will make investments in six to eight new companies,” says Jan Lundahl,
Senior Partner and Head of CapMan Life Science.
The management fee of CapMan Life Science IV fund is in accordance with common
practice in the industry. In connection with the establishment of the fund in
March 2006, the Board of Directors of CapMan Plc decided that 50% of CapMan Life
Science IV's possible carried interest will be distributed to the members of the
investment team responsible for the fund's investment activities during its life
cycle. A new fund starts to generate carried interest after the investors have
regained their investment and an 8% preferred annual return. In venture funds
this typically takes place towards the end of the funds' 10 year life cycle.
For further information please contact:
Jan Lundahl, Senior Partner, Head of CapMan Life Science, tel. +46 8 545 854 75
or +46 708 56 19 53
Jerome Bouix, Partner, Fundraising, IR and Communications, tel. +358 9 6155 8358
or +358 40 820 8541
CAPMAN PLC
Jerome Bouix
Partner
Fundraising, IR and Communications
Distribution:
Helsinki Stock Exchange
Principal media
www.capman.com
CapMan
CapMan is one of the leading private equity investors in the Nordic countries
and manages Nordic buyout, mezzanine, technology, life science and real estate
funds with approximately EUR 3.0 billion in total capital. Each investment area
has a dedicated team and altogether CapMan employs around 100 people in
Helsinki, Stockholm, Copenhagen and Oslo. Established in 1989, CapMan has strong
experience as a fund manager and as a partner for investors and entrepreneurs.
To date CapMan has made over 150 Nordic investments and over 90 exits. The
current portfolio encompasses over 60 companies with an aggregate turnover of
approx. EUR 2.7 billion and aggregate personnel of 17,000 people. The latest
investments are made in Finnish Novintel Oy, Danish ScanJour A/S, Swedish
QuickCool AB and Norwegian InfoCare ASA. In addition, CapMan has invested in 27
real estate assets and exited from 22. The B shares of CapMan Plc are listed on
the Main List of the Helsinki Stock Exchange since 2001. www.capman.com