3i has sold its stake in Novintel, a Nordic market intelligence business, to Helsinki-listed CapMan. 3i originally invested €1.6 million in a 33 percent stake in June 2003.
Founded in 1995, Novintel provides customised market intelligence services to clients in Finland, Europe, the US and Canada. The business has offices in Helsinki, Toronto and London, and generated sales of €4.8 million in 2006.
CapMan invests in later stage venture capital and expansion capital opportunities in the Nordic region. It has offices in Helsinki, Stockholm, Copenhagen and Oslo, and manages about €2.9 billion in buyout, technology, life sciences and real estate funds. Since its establishment in 1989, the firm has made more than 150 investments and more than 90 exits.