Euroventures to raise E150m for Nordic buyouts

The Scandinavian mid-market buyout and expansion capital investor is planning to close in September on E150m for its largest fund.

Euroventures, the independent buyout and expansion capital house which has offices in Stockholm, Espoo in Finland and Vedbaek in Denmark, is looking to complete an ongoing fundraising effort in September, aiming to close on E150m for its fifth fund.

The firm is looking to invest the fund, its fifth since inception in 1985, in mid-market transactions mainly in Sweden, Finland and Denmark. Up to 15m of equity capital are available per deal.

Thomas Wernhoff, a partner at Euroventures, said the outlook for the fundraising was positive even if current conditions are not as conducive as they would have been two years ago. “Our timing was determined mainly by where we are in relation to our previous funds rather than by the current market environment”, Wernhoff said.

Euroventures’ most recent fundraising dates back to 1996, when the firm raised a E60m vehicle. The firm is looking to bring limited partners from the Nordic region and other parts of Europe into the fund. No direct marketing will take place, but Wernhoff said capital of US origin was likely to be channelled into the fund by way of European fund of funds managers.

No placement agent has been appointed to help raise the fund.

To date, Euroventures has advised four private equity and private equity funds: Nordica I, which was established in 1986, Nordica II in 1991, Swedetech in 1993 and Baltic Rim Fund in 1997.