With the First Closing of 46.5 Million Euro, Conor Technology Fund II Starts Investing in Technology Companies Originating from the Nordics and Baltics
Helsinki, Finland – 5 May 2010 (press release)
Conor Venture Partners Oy, a leading Finnish early-stage technology VC, today announced the 46.5 million euro first closing of its second early-stage venture capital fund. Operating from Finland and following in the footsteps of Conor’s first fund, the new fund will invest in early-stage technology centric companies rooted in the Nordics and Conor Technology Fund II investors at first closing include the European Investment Fund, Finnish Industry Investment, Etera Mutual Pension Insurance Company, Veritas Pension Insurance Company, Atine Investment Partners, and FoF Growth managed by Finnish Industry Investment and bringing in several major Finnish investors.
“We are very proud to announce our second fund at a size well above its original first closing target,” said Mr. Jari Mieskonen, Managing Partner at Conor Venture Partners Oy. “While working on final closing of the new fund by the end of the year, we look forward to continue investing in great Nordic and Baltic companies such as Imbera, Supponor, and Eniram in our first fund. The technology focus of the new fund remains unchanged, while its geographic reach will be slightly wider. We are looking for world class initiatives to be grown into global success stories. The strong initial investor pool gives wide grounding to build it up to final closing.”
“We are delighted to have a new and large-enough early-stage technology fund in Finland. The new incubation system will provide it with good potential investment targets”, comments Investment Director Riitta Jääskeläinen at Finnish Industry Investment.
“Conor is an established venture capital fund manager and we look forward to starting co-operation with Conor, with potential to develop and commercialize young companies successfully,” said Mr. Esko Torsti, Chairman of the Investment Committee of FoF Growth and Director at Ilmarinen Mutual Pension Insurance Company.
“Being very satisfied with the performance of Conor’s first fund, it was self-evident continuum for Etera to join their second fund at first closing,” said Mr. Tatu Hemmo, Portfolio Manager at Etera Mutual Pension Insurance Company.
“We are delighted to participate in Conor’s new fund,” said Mr. John Holloway, Director, Transaction and Relationship Management at the European Investment Fund. “We have followed Conor since its establishment in 2005 and our investment is proof of our continuing support for this excellent team. It also fulfils the objective of the EU Competitiveness and Innovation Framework Programme by encouraging the development of entrepreneurship and innovation in the region.”
RECORD ID: 38317