DENMARK - ATP is planning to launch a second DKK1bn (€130m) ICT venture capital fund in a year's time, because its first fund has proven to be so successful.
"We are considering launching a new venture capital fund," a spokesman for ATP told IPE. "The main reason (for a second fund) is that the fund we have has had a lot of success."
ATP, which runs the Danish supplementary labour market pension scheme and manages around DKK677bn in assets, set up a venture capital fund in 2006 through its newly-created subsidiary Via Venture Partners.
ATP committed DKK1bn to the fund at that time, and only around DKK120mn has yet to be channelled into investments. This remaining money will be invested by the end of 2010, ATP said.
Officials confirm they have already begun to look at launching their next fund with Via Venture Partners of approximately the same size again, although the results of this investment foray have still to be evaluated.
Via Venture Partners describes itself as a multi-stage venture fund and invests in companies in the Nordic region. Investing up to €20m per case, the fund picks ICT growth companies that are ready to expand outside the Nordic region, as well as supporting seed and early-stage ventures.
The primary focus is on internet, communication and technology businesses, the fund specified, while the second area of interest is in the more industrial markets as well as life science markets, where the companies include strong IT components.
This summer, Via Venture Partners announced it was investing SEK27m in Stockholm-based mobile marketing company PlusFourSix AB.
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