At a time when most VCs are consolidating their position in the market, Paris headquartered Viventures is extending its reach. Following the opening of its UK office last month, the firm is now targeting the Nordic region having signed an agreement with Stockholm-based CGT Equity Advisors to work as independent advisors targeting investment opportunities primarily in Sweden, Finland and Denmark.
CGT Equity Advisors is represented by founding directors, Hadar Cars and Eddy Gryvelius, who are both also co-founders of Orange Sverige consortium, a Swedish mobile phone operator.
Jean-Pascal Tranie, managing general partner of Viventures Partners, said the agreement will give Viventures valuable access to the Nordic market’s new technology opportunities and also underlines the firm’s global objectives. “Mr Cars and Mr Gryvelius bring to Viventures very solid professional backgrounds, an extensive network of contacts and a firm understanding of the mobile industry. Their extensive experience will be of tremendous value to both our limited partners and our portfolio companies,” he said.
Viventures recently closed Viventures2 at EURO638 million. A third of the fund is financed by VivendiNet, the Internet arm of Vivendi Universal, and the remainder includes commitments from over 30 corporate and financial investors worldwide. The fund will provide venture funding, as well as strategic and financial guidance to promising Internet and communications start-ups.