Alliance Venture Spring attracts a number of high profile investors. The new early-stage fund will invest in new, promising IT start-ups - primarily in Norway. Alliance Venture Spring is now formally established, after seeing large interest from investors.
The fund was oversubscribed at first closing, and attracted a number of strategic investors, among them Telenor and Opera Software. Capital under management is NOK 510 million.
- We are proud and happy that the fund was oversubscribed so soon after the subscription offer went out. We are also very satisfied that so many competent investors are participating as LPs. We have established a network of former IT entrepreneurs and managers that will use their experience to support the fund. All of the network participants have invested in the fund. We are confident that this will strengthen the fund and provide a valuable contribution to the entrepreneurs in their portfolio companies, says managing partner Jan-Erik Hæreid in Alliance Venture Spring.
The team has been expanded with two new members, for full profile see team.
Link to press release in English and Norwegian
Alliance Venture portfolio company, poLight, has been chosen as one of six companies named “Cool Vendor for Consumer Devices, 2014” by Gartner, Inc. poLight was chosed for the use technology to enable differentiation in imaging features for mobile devices based on the high-performance Tunable Lens (TLens). The TLens scores far better in terms of instant focus and low power consumption than the current technology in the market. Check out the Gartner Cool Vendor report for more information.
Pan Media Group (PMG) has acquired Pageplanner Solutions AS.
PMG is a leading player in the content marketing business, delivering a full set of services with publishing in all channels: print, video, web and animation. PMG also aquired TV8, a company specializing in video publishing. Pan Media Group offers traditional media companies to share essential but non-core technology and production capacities. Pan Media Group offers both outsourcing of non-core media operations as well as complete outsourcing solutions including editorial and commercial operations.
Press release (in Norwegian)