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SJ Berwin LLP Advises Wellington Partners on €150 Million Venture Capital Fund
In addition to cornerstone investor European Investment Fund, further investors in Wellington Partners III Technology include Access Capital, AGF Private Equity, AlpInvest, CDC, Global Vision - MPC, Messerschmitt Stiftung, National Innovation Fund of Kazakhstan, Swiss Re, VCM, VenCap, von Braun & Schreiber, Westfälische Provinzial and Württembergische Versicherungen. "Over the past seven months, interest in European venture capital on the part of leading international investors has risen sharply," reports Dienst. "We began our fundraising activities in a very difficult environment. However our three successful exits in 2005 and our expanded team helped to assure successful fundraising." Since the beginning of the year, Wellington Partners has sold Ciao AG to Greenfield Online, Inc., NaWoTec to Carl Zeiss AG, Meiosys to IBM, and had a successful IPO with net mobile on 12 July, 2005. In addition, Silicon Valley veteran Eric Archambeau was brought on board as a new General Partner.
Wellington Partners III Technology will invest in approximately 20 European technology companies in the fields of electronics, ICT services, security and software. In April 2005, the new fund made its first investment in French-based software company NexWave, which specializes in embedded software for consumer electronics. "NexWave's technology comes from France, its sales and marketing organization is managed in Silicon Valley and its major accounts are located in Asia and the United States," reports General Partner Bart Markus. "That makes NexWave a prime example of our strategy: To invest in innovative European technology companies and support them in their swift global expansion." Wellington founder Dienst is convinced that this approach will continue to offer attractive returns in the future: "We want to finance world class leaders to make Wellington Partners III Technology one of the best European venture capital funds of the 2005 vintage."
The SJ Berwin team was led by Sonya Pauls (Funds) and Dr Andre Gloede (Tax).
Notes:
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Monday 25th July 2005
SJ Berwin advised Wellington Partners on its new Wellington Partners III Technology Fund. Having reached its self-imposed hard cap of €150 million, Wellington Partners was able to significantly exceed its original target of €120 million. "We owe our success to the strong support of our loyal, long-term investors," notes Wellington founder Rolf Dienst.In addition to cornerstone investor European Investment Fund, further investors in Wellington Partners III Technology include Access Capital, AGF Private Equity, AlpInvest, CDC, Global Vision - MPC, Messerschmitt Stiftung, National Innovation Fund of Kazakhstan, Swiss Re, VCM, VenCap, von Braun & Schreiber, Westfälische Provinzial and Württembergische Versicherungen. "Over the past seven months, interest in European venture capital on the part of leading international investors has risen sharply," reports Dienst. "We began our fundraising activities in a very difficult environment. However our three successful exits in 2005 and our expanded team helped to assure successful fundraising." Since the beginning of the year, Wellington Partners has sold Ciao AG to Greenfield Online, Inc., NaWoTec to Carl Zeiss AG, Meiosys to IBM, and had a successful IPO with net mobile on 12 July, 2005. In addition, Silicon Valley veteran Eric Archambeau was brought on board as a new General Partner.
Wellington Partners III Technology will invest in approximately 20 European technology companies in the fields of electronics, ICT services, security and software. In April 2005, the new fund made its first investment in French-based software company NexWave, which specializes in embedded software for consumer electronics. "NexWave's technology comes from France, its sales and marketing organization is managed in Silicon Valley and its major accounts are located in Asia and the United States," reports General Partner Bart Markus. "That makes NexWave a prime example of our strategy: To invest in innovative European technology companies and support them in their swift global expansion." Wellington founder Dienst is convinced that this approach will continue to offer attractive returns in the future: "We want to finance world class leaders to make Wellington Partners III Technology one of the best European venture capital funds of the 2005 vintage."
The SJ Berwin team was led by Sonya Pauls (Funds) and Dr Andre Gloede (Tax).
Notes:
- About SJ Berwin LLP
- Founded in 1982, SJ Berwin is a leading City corporate and commercial law firm with offices in London, Brussels, Frankfurt, Munich, Berlin, Madrid and Paris.
- With more than 200 corporate finance lawyers, the depth and breadth of expertise of our pan-European Corporate Finance Department is considerable. We offer the complete range of corporate finance services, which extends to all aspects of domestic and cross-border M&A and buy-outs, private equity, equity capital markets, financial services and tax. Head of Corporate, Jonathan Blake has just been named global Private Funds Lawyer of the Year by The International Who's Who of Business Lawyers.
- About Wellington Partners
- Founded in 1991, Wellington Partners invests in start-ups throughout Europe in the fields of information and communication technology and life science, and numbers among Europe's most successful early-stage investors. The Munich-based firm today manages a total fund volume of €400 million.
- Further information about the firm may be found at www.wellington-partners.com
- To date, Wellington Partners has invested in over 75 companies and has sold 23 of them at a profit, in four cases through an IPO. Serving as the lead or co-lead-investor, the firm has already accompanied Chipbroker ACG or biotech player Actelion, for example, in their IPOs, and sold WLAN AG, for example, to Swisscom and German auctioneer Alando to eBay.
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