Deal round up 07/08/02

ACR Capital backs ConfigIt Software

Scandinavian venture capital firm ACR Capital has completed a DKK12.5m (E1.7m) investment round in Danish digital software developer ConfigIt Software, a spin-off from the University of Copenhagen.

ConfigIt will use the fund to further develop its software suite for configuration applications. The company forecasts the market for embedded systems software to grow 20 per cent annually to some $2.1bn in 2006.

ACR Capital, which manages the Slottsbacken Funds, is currently investing more than E100m across the Nordic region. The firm specialises in telecom, data communications and media companies.

Two deals for Triangle

German venture capital firm Triangle Venture Capital Group has completed two recent deals in Germany and the US.

The firm has invested in IPCentury, a German software technology firm based in Merseburg. The unspecified investment is the firm’s second commitment to IPCentury following on from an original investment made in June 2002. The funding will be used to develop the firm’s latest technology, DECOPA (decentralized computer-supported patent analysis).

Triangle has also committed a follow-on financing to Salt Lake City-based language software company Attensity Corporation. The US Central Intelligence Agency, which invested over $1m in Attensity through its venture capital company In-Q-Tel, uses the technology to extract important information from internal reports.