Verdane ponders Copenhagen for fourth office

The Nordic direct secondaries firm already operates from its Oslo headquarters and additional offices in Stockholm and Helsinki.

Verdane Capital could expand to Copenhagen, as the Danish city would be the “natural next step” for the firm to have on-the-ground presence throughout the Nordic region, according to director of investor relations Frida Einarson.

Verdane has only made one acquisition in Denmark to date, and although there are no concrete plans to open the Copenhagen office, the firm could deploy more capital in the region, Einarson said.

In February 2013, Verdane acquired Danish fund Nordic Venture Partners I, which consists of four direct assets, including life science company CRF Health and newspaper production distribution company Saxotech, according to a statement.

“We are very excited about Verdane funds’ first investment in Denmark; we have been looking for suitable acquisitions in Denmark for a while and are very pleased with the opportunity and the interesting companies acquired today,” Verdane managing partner Lars Thoresen said in the statement.

Verdane is headquartered in Oslo and has an equal-sized office in Stockholm. The firm opened an office with two investment professionals in Helsinki in September 2011, after deploying substantial capital in the region between 2010 and 2012.

Verdane invests a minimum of SEK50 million ($7.4 million; €5.5 million) in each company, although the firm’s typical deal size is closer to between $20 million and $50 million.

Earlier this month, Verdane closed its Fund VIII, its largest fund to date, on SEK2 billion. About 25 percent of the capital raised came from government investment vehicles, banks and funds of funds, followed by 20 percent from insurance companies and an additional 20 percent from pension funds, including French insurance company CNP and Swedish pension fund AP3.

Fund VIII has already invested in 16 energy, e-commerce and information technology companies through three different portfolios in Sweden and Norway.