Swedish venture capital CR&T Ventures has been busy in recent months. It has announced investments in financing rounds for three different companies. The investee companies are Stockholm-based Cobolt AB, Comhat AB and Appgate AB.
Yesterday, CR&T Ventures announced its investment in Stockholm-based Comhat, which supplies reflector aerials for radio links. The Swedish Industrial Development Fund and venture capital company Itact also participated in the E1.63m funding round.
Radio links are used in telecommunication networks instead of using cable. The company expects the market for radio links to turn over E3.27bn by 2004. The company has 14 employees and has received its first orders for antennas. The cash will be used to expand the company.
Last month, the venture capital company participated in the E1.31 funding of Cobolt AB, which has developed a system for producing powerful lasers in the visible and infrared wave ranges. The Swedish Industrial Development Fund and SEB Foretagsinvest, the venture capital arm of SEB Bank, also invested in the E1.3m round. The investors also have an option to invest a further E1m within nine months.
Finally CR&T Ventures invested in a $10m third round of financing for Appgate AB at the beginning of the year. GE Equity, ABN Amro and Bure Equity were co-investors. Appgate’s product is a security programme which protects computer networks.
Appgate is a spin-off from Carlstedt Research & Technology AB (CR&T), a company which focuses on science and computer engineering. CR&T Venture was itself created by its former parent: CR&T.
CR&T Venture's first fund has a capital E10.9.