Deals

Sobera buys tech assets from PolyTechnos

The Berlin-based direct secondaries firm has acquired stakes in three companies including medical device manufacturer Cappella.

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Direct secondaries firm Sobera Capital has acquired three assets from PolyTechnos Venture Fund II, according to a statement.

The assets include wireless technology company Nanotron, medical device manufacturer Cappella and data software Panoratio Holdings. PolyTechnos invested in Nanotron in 2003 and the other two companies in 2004.

PolyTechnos Venture II is a 2001-vintage fund managed by Munich-based PolyTechnos Venture Partners. It raised €130 million from limited partners including the Vanderbilt University endowment and Luxembourg’s European Investment Fund, according to PEI’s Research and Analytics division.

The PolyTechnos deal marks Sobera’s sixth portfolio acquisition and its second from PolyTechnos. In 2010, Sobera acquired another group of assets from PolyTechnos Venture Fund II.

Sobera is based in Berlin and focuses on venture capital and small-cap funds and assets in the healthcare and information and communications technology, sectors. It targets European assets valued up to €50 million, with a specific focus on German-speaking countries, managing partner Johannes Rabini told Secondaries Investor last November.

“We are German-based, so we know how it works here – the language, the legal environment and the people. We have also seen sufficient deal flow in Germany and the German-speaking region, making it a desirable market to invest in.”

Sobera is led by managing partners Stefan Beil and Rabini, who worked together at a private equity firm in 2003, which Sobera took over in 2010.