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January 19, 2007
Rare Peak At Euro VC Exit Multiples
An unitended pun in the headline of this one. We managed to spell "peek" wrong. We don't often see exit multiples on European VC deals - typically the numbers are only revealed when a new VC fund is being raised. But a couple, both Nordic, by the way, crossed our screen this week.
NordNav (trade sale to Cambridge Silicon Radio) According to a statement issued by 3i, investors in NordNav stand to make a tidy return on their investment. InnovationsKapital and 3i expect to generate "up to 8 times" their total investment. 3i confirmed that since it co-led the first investment round in Nordnav in May 2005, it will generate a similar return to InnKap. The folks at InnovationsKapital also had a good exit on the Carmen Systems trade sale last year, a 9X return, according to its press materials.
TradeDoubler - VCratings did some digging and found that Arctic Ventures - a no longer operating Nordic VC firm - stands to generate a far greater than 10X multiple on its investment in TradeDoubler, which is an acquisition target right now. Apparently, the Arctic Ventures porfolio was rolled into Argnor (which seems to have been rolled into Braveheart and Argo).
Artic Ventures' current stake in TradeDoubler worth $90 million is three times the size of its original fund closing in 1999 ...
Read - Defunct Arctic Ventures profits from TradeDoubler sale (vcratings)
Read - Swedish GPS Startup ... (3i)
Read AOL's $900M Offer For Sweden's TradeDoubler (Techstocker)
Posted on January 19, 2007 06:48 AM | Posted to Venture Capital | Permalink
