Investee Company – Virtual Computer
Investee Company Country – France
Investee Company Business Type – Provides the integration, hosting and management of IT applications
Type of Financing – Expansion, Development
Equity Providers – Apax Partners, Kairos Ventures
Equity Leader (Individual) – Frederic Rombaut, Apax Partners
Debt Providers – N/A
Debt Type – N/A
Debt Leader (Individual) – N/A
Equity Amount – euro2.2 million
Total Deal Value – euro2.2 million
Other Advisors – N/A
Comments – Venture capital firm Apax Partners have collaborated with Kairos Ventures to raise euro2.2 million in a second round of equity funding for application providers, Virtual Computer.
The French company provides rented applications which are designed to facilitate the specific IT needs of each respective client. This initially involves the specific integration of applications, further to editing, installation, hosting and trouble shooting.
Targeting mainly small and medium sized companies, Virtual Computer is looking to develop a culture of continually increasing the quality and range of applications which it makes available to its clients.
The round is a return investment for both Apax Partners and Kairos Ventures who participated in a euro1.6 million fund raising in January 2000.
With the new funding Virtual Computer is looking to strengthen its position within the French market for application service provision, as well as initiating plans for further expansion across Europe.