Virtual Computer welcomes back familiar investors

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.