CapMan, which already has technology and buyout operations in Denmark, has now expanded its life science activities into the country.
Morten Bro Nielsen joins on February 1 2004 as an investment director in the firm’s life science business unit and will be responsible for establishing CapMan as a major investor in the Danish life science industry. He joins the firm from Danish diagnostics company Radiometer, where for the last two years he ran its corporate venturing arm, Radiometer Venture Fund.
Having gained an MBA from INSEAD, Bro Nielsen has spent the last eight years working for life science-related companies in France, Japan, the US, Sweden and Denmark.
“We now have a truly Nordic life science team with team members in Sweden, Finland and Denmark,” said Jan Lundahl, the head of CapMan’s life science business unit. “With the addition of Morten to our team, we have completed our transition from a national investor to a cross-border life science investor.”
Bo Nielsen hinted that he would focus more on the medical technology sector rather than drug discovery. He said: “I think that VCs sometimes focus too much on the huge potential exits that are possible in drug discovery, and tend to forget that this opportunity comes with a lot of risk and uncertainty. Medical technology has a somewhat different profile. It has business risks whereas drug discovery has bio-compatibility risks and, of these two, we believe that business risk is more manageable.”
CapMan has 80 employees in Helsinki, Stockholm, Copenhagen and Oslo and manages or advises funds with approximately €1.7 billion of total capital. It specialises in mid-market buyouts plus investments in the IT, communications and life science sectors.