Deal Round-up 12/07/01

Blue chip VCs invest in Fenestrae, HSBC exits Swedish medical investment, Interregnum leads first round for Yospace, TradeDoubler closes third round

Blue chip VCs invest in Fenestrae

Doughty Hanson & Co Technology, Intel Capital and Kappa IT Ventures have committed E15m in Fenestrae, the Netherlands-based provider of mobile application middleware.

Doughty Hanson led the investment, described as “the largest round of venture capital financing for a European wireless company so far this year.”

Fenestrae's Mobile Data Server (MDS) uses wireless technology to securely extend the reach of corporate systems to any mobile device used by professionals in the field.

The company has sold MDS to clients such as Siemens, ING Postbank, Libertel Vodafone and Sonera Juxto, the European application service provider.

HSBC exits Swedish medical investment

HSBC Private Equity has sold M & M Medical, the Swedish medical services contract company, to ISS Care Partner AB, a subsidiary of ISS Group.

HSBC bought M & M in 1999 and says it has since overseen double digit growth at the company. The business has 360 employees and an expected 2001 turnover of around SEK400m (E43m). HSBC, which has an office in Stockholm, did not disclose the price ISS paid for M & M.

Interregnum leads first round for Yospace

Interregnum Plc, the UK-based IT investment and advisory firm, has led a £1m first round of financing in Yospace, a London-based wireless technology company.

The deal comprises convertible loan stock of £750,000 from Interregnum and £250,000 from Advantage Technology Fund.

Yospace develops WAP software for mobile telephony carriers and internet portals. The company employs 30 people and ended 2000 with a turnover in excess of £1.4m.

TradeDoubler closes third round

TradeDoubler, the Swedish internet marketing company operating across Europe, has received SEK35m (E3.8m) from Arctic Ventures, Soros Private Equity Partners and a Swedish financial institution.

The funding from this third round will be used to grow the business further. TradeDoubler says it expects to generate revenues of around SEK100m in 2001, an increase of approximately 400 per cent from the previous year.

Martin Henricson joins the company from Telia to take over as chief executive officer.