Verdane acquires 17 companies in 2014 – updated

Nordic-based direct secondaries firm Verdane Capital acquired 17 companies in 2014, Secondaries Investor has learned.

Verdane closed three direct secondaries portfolio deals and one direct investment deal using primary and secondary investing capabilities, according to director of investor relations Frida Einarson.

Another deal could close before year-end, but it will most likely close in early 2015.

Verdane is currently investing its eighth direct secondaries fund, which closed in June on SEK 2 billion ($300 million; €241 million). Fund VIII is the firm’s largest to date.

In July the fund acquired five companies from Norwegian family office Ferd Capital. The portfolio companies include Aspiro, which owns Norwegian music streaming service Wimp; Napatech, a Danish network adapter manufacturer; and Eniram, a Finnish maritime energy software company.

Verdane also invested in Swedish nutrition supplements and training gear company MM Sports in September.

“The Nordic market is one where it is important to be local and to have a reputation as a good partner to work with,” Einarson said.

Last year, Verdane acquired eight companies through two portfolio deals and direct secondaries volume has remained relatively steady year-over-year, Einarson added.

During the first half of 2014, NYPPEX estimated $6.1 billion of direct secondaries volume, compared to roughly $4.6 billion during the first half of 2013. The market saw $12.4 billion of direct secondaries activity during all of 2013.

This story has been updated to reflect the fact Verdane acquired eight companies through two portfolio deals in 2013, instead of four companies in one portfolio deal.