Novestra invests together with founding partners in Continuum Group Ltd
NOVESTRA INVESTS TOGETHER WITH FOUNDING PARTNERS IN CONTINUUM GROUP LTD Novestra plans to invest between MUSD 7.5 and 10 in Continuum Group Ltd, and become a founding investor of the newly formed investment company Continuum Group Ltd focuses on investments in Internet infrastructure, broadband, data applications and outsourcing opportunities in Europe. Continuum is led by two of the leading investment bankers in the telecom sector in London, Jörg Mohaupt, formerly Morgan Stanley, and Jean-François Astier, from Lehman Brothers. Continuum is in the process of concluding its initial funding of between MUSD 70 and 80. Apart from Novestra and the management team, the founding investors will include Christopher and Robert Burch, who were among the initial investors of Internet Capital Group. Novestra's subscription is made at the same price as the subscription of the founders. Assuming that Novestra will finally be allocated its full subscription of MUSD 10 and that the current initial funding of the company amounts to MUSD 75, Novestra will hold approximately 13 % of Continuum. "We see Continuum as an important future strategic partner for European investments. Our possibility to participate as strategic investor in the seed financing of the company and at the same price as the four founders represents an interesting opportunity which will also strengthen the strategic collaboration between Novestra and Continuum. Continuum is already evaluating a number of opportunities and has concluded its first investment last week," Peter Ekelund, Executive Director at Novestra who will join the Continuum Advisory Board, says. Novestra is one of the leading venture capital investment firms in the Nordic countries primarily with a focus on companies providing enabling services to the network economy. Novestra's portfolio of companies includes Bredbandsbolaget, Fanglobe.com, IQUITY Systems, Jupiter Communications, Mobilestop.com, NetSurvey, PowerNet and Qbranch. Novestras shares are traded on the OM Stockholm Exchange New Market. For more information regarding AB Novestra, please refer to www.novestra.com, and for further enquiries, please contact Mr Theodor Dalenson, CEO or Mr Peter Ekelund, Executive Director phone No. +46 8 545 017 50. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/04/26/20000426BIT00400/bit0001.doc http://www.bit.se/bitonline/2000/04/26/20000426BIT00400/bit0002.pdf