CapMan, the Nordic private equity group headquartered in Helsinki, has added to its life sciences team that is headed by Jan Lundahl, with the appointment of Yrjö Wichmann as investment director.
Yrjö Wichmann has been the CFO at FibroGen Europe Corp, a Finnish biotechnology company. Previously he worked in D.Carnegie AB’s Finland branch as a director in corporate finance, responsible for the life science and healthcare sectors.
Jan Lundahl said the appointment of Wichmann was part of the firm’s intention to expand the life sciences team across the Nordic region. “Wichmann will play a key-role in our expansion in Finland,” said Lundahl. 'During the fall of 2003 we will also continue our unit’s expansion in Denmark.”
CapMan’s team now comprises around 80 people in Helsinki, Stockholm and Copenhagen. The firm manages and advises funds with approximately E1.653bn in total capital, of which E527m is managed by affiliate fund of fund management company Access Capital Partners, which invests in European private equity funds. To date, the funds managed by CapMan have invested in 133 companies in the Nordic countries and exited from 54.
Last week, CapMan published its interim results for the six months to June 30, where it reported an operating profit of E0.9m compared to E1.5m in the previous period. CapMan’s direct investments business made three new investments, two substantial follow-on investments and several smaller follow-on investments in the first half of 2003, investing a total of E29m. CapMan currently has E460m available for direct investments.