InnovationsKapital's second fund fully subscribed

InnovationsKapital's second fund fully subscribed - SEK 350 million for Nordic growth companies The second InnovationsKapital fund, InnKap II, is now fully subscribed. Swedish and international institutions have placed SEK 350 million in the new fund. InnovationsKapital will invest the capital in Nordic growth companies working in the Information & Communication Technology (ICT) and Health Care sectors. The launch of InnKap II is a key part of InnovationsKapital's strategy as it aims to become one of the Nordic area leading early stage venture capital firms. In the coming years the firm will be actively searching for companies to invest in throughout the Nordic area. "We aim to be the first choice for Nordic growth companies at an early stage of their development and active in the ICT and Health Care sectors," says Staffan Ingeborn, Managing General Partner at InnovationsKapital. All of the institutions involved in InnovationsKapital's first fund, InnKap I, worth SEK 175 million, have signed up for InnKap II. New investors include several highly reputable Swedish and international names such as the European Investment Fund as well as Sitra and Merita- Nordbanken of Finland. "With well-respected institutions among our investors, we gain access to a network that InnovationsKapital can use to help its portfolio companies to expand more rapidly in international markets," says Gunnar Fernström, General Partner at InnovationsKapital. With SEK 525 million in its two funds, InnovationsKapital is one of the largest venture capital firms in Sweden within its sector. So far, investment has focused on knowledge-intensive growth companies that have developed in close association with universities and colleges in Gothenburg, Linköping, Lund, Stockholm and Uppsala. At present, InnovationsKapital is involved as an active investor in over 20 portfolio companies. This expertise will now be used to invest in similar businesses throughout the Nordic region. When InnovationsKapital invests in a company its commitment has a time limit and the purpose is to create a rapid increase in value, while laying a solid foundation for the long-term growth of the portfolio company. Gothenburg, Sweden, 20 December 1999 InnovationsKapital For further information please contact Staffan Ingeborn on +46 (0)31 60 91 91 or Gunnar Fernström on +46 (0)31 60 91 92. InnovationsKapital started business in 1994 and is one of Sweden's largest early stage venture capital firms for innovative growth companies. The business is focused on investments within ICT and Health Care - dynamic sectors that are rapidly expanding and where Nordic research plays a leading role. Further information about InnovationsKapital can be found at www.innkap.se ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/12/20/19991220BIT00160/bit0001.doc http://www.bit.se/bitonline/1999/12/20/19991220BIT00160/bit0002.pdf