InnovationsKapital has made its first investment in Finland in the e-commerce company Printeurope.com - a vertical B2B p
InnovationsKapital has made its first investment in Finland in the e- commerce company Printeurope.com - a vertical B2B portal for the printing industry. InnovationsKapital has made its first investment outside Sweden in the Finnish e-commerce company Printeurope.com. Printeurope.com is a vertical B2B portal for the printing industry, it has a unique e-commerce system and will provide a significant cost reduction for both printers and print buyers. InnovationsKapital has made the investment together with Finnish investment bank Conventum and German VC-investor TransConnect. "Printeurope.com is a very interesting start-up in the B2B e-commerce area with a unique approach for the printing industry. We are very pleased that Printeurope.com has chosen InnovationsKapital as investors. This is our first investment in Finland and an important step in our strategy to become the first choice for Nordic early stage growth companies", says Staffan Ingeborn, Managing General Partner at InnovationsKapital. Printeurope.com is a vertical portal for the European printing industry, its affiliates and customers. Printeurope.com will allocate the capital injection to product development as well as a market launch in Sweden, Germany, Holland and UK. By the end of 2000, the services will cover the whole production process, from order to delivery, for printed matters. The system will provide a significant cost reduction in print ordering. "The network of InnovationsKapital provides excellent support in international markets. InnovationsKapital represents a strong financial investor and it is essential to have them on board to secure our international market expansion" says Teppo Paavola, CEO of Printeurope.com. InnovationsKapital was founded in 1994 and is one of Sweden's leading venture capital firms for innovative early stage growth companies. The business is focused on investments within ICT and HealthCare - dynamic sectors that are rapidly expanding and where Nordic research plays a leading role. The capital is managed in two funds and is provided by highly reputable Swedish and international institutional investors. Gothenburg, April 11, 2000 For further information please contact: Staffan Ingeborn, Managing General Partner, InnovationsKapital (http://www.innkap.se/) phone: +46 31 60 91 90 or +46 705 83 14 34 e-mail: staffan.ingeborn@innkap.se Peder Holm, Associate, InnovationsKapital (http://www.innkap.se/) phone: +46 31 60 91 90 or +46 703 46 57 70 e-mail: peder.holm@innkap.se Teppo Paavola, CEO, Printeurope.com phone: +358 40 577 88 99 e-mail: teppo@printeurope.com ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/04/11/20000411BIT00170/bit0001.doc http://www.bit.se/bitonline/2000/04/11/20000411BIT00170/bit0002.pdf