Sunstone Capital Technology Ventures has announced that it has made a new investment of DKK 10M in addwish ApS, an international provider of wish list services for consumer and e-commerce providers.
Mellanox® Technologies, Ltd. (NASDAQ: MLNX; TASE: MLNX), a leading supplier of end-to-end interconnect solutions for servers and storage systems, announced its intent to acquire privately held IPtronics A/S, a leader in optical interconnect component design for digital communications.
IPtronics has been backed by European venture firms Creandum and Sunstone since 2008.
Read the full press release.
COPENHAGEN, Denmark — Sunstone Capital, a European venture capital firm, today announced that Max Niederhofer has joined the firm as a Partner in its Copenhagen office. In this role, he will focus on early stage technology investments and support existing companies in Sunstone’s portfolio.
Max has spent the last 11 years working with early stage businesses in Europe and the United States as an investor and entrepreneur. He joins Sunstone Capital from Accel Partners, where he was a Vice President in the firm’s London office, focusing on investments in internet and mobile services. Prior to joining Accel, Max started and sold Qwerly, a data marketing business, and was a Principal at Atlas Venture, where he worked with companies such as DailyMotion, Seatwave and Moo. His personal investments include Last.fm (sold to CBS), OneFineStay, Skimlinks, Boticca, Fliptop and Sofar Sounds.
“We are very excited to have Max join our team. As entrepreneurs ourselves, we are aggressively expanding Sunstone from our Nordic roots to all European markets. Max’s background and experience strengthen our strategy of supporting European entrepreneurs at the earliest stages of company building,” said Jimmy Fussing Nielsen, Managing Partner at Sunstone Capital.
“I am thrilled to be joining a partnership that allows me to be an investor as well as an entrepreneur,” said Niederhofer. “At Sunstone, we are building Europe’s premier, early-stage, West Coast-style venture capital firm. We want to be faster, more accessible and better to deal with than anyone else in the market.”
Max was born in Hamburg and has lived in Germany, Canada, the UK, France, India and the US. He holds a doctorate in management science from WHU in Germany and was recently named “Best Startup Advisor/Mentor 2012” at startup awards The Europas in Berlin.
About Sunstone Capital
Founded in 2007, Sunstone Capital is a leading European early-stage technology and life sciences venture capital firm. The partnership manages around EUR 700 million in committed capital across seven funds. The technology portfolio includes companies such as Amen, Gidsy, Issuu, Layar, Neo Technology, Paymill, Podio (sold to Citrix Systems) and Prezi.
March 20th 2013, OSLO – On the back of a strong 2012 with significant sales momentum and key customer wins, Asetek A/S completes its Initial Public Offering (IPO) on the main Oslo Stock Exchange.
Despite a generally difficult IPO environment, Asetek was able to buck the trend and raise USD 25 million in gross proceeds in this oversubscribed offering. This brings the market capitalization close to USD 95 million, reflecting the large potential of Asetek’s strong value proposition to the rapidly growing server market. The proceeds will enable Asetek to further accelerate the deployment of its groundbreaking server cooling concept, as well as further develop and exploit the already strong Intellectual Property portfolio.
The rapid growth of the tablet, smartphone and SW as a Service market is already consuming more than 2% of the electricity in the developed world and is exhibiting growth rates of more than 50% per year. As such this is one of the major areas of environmental concern. Asetek’s server cooling solution not only reduces the power consumption of a typical server farm with more than 40%, it also makes it possible to easily reuse the excess heat, for heating of nearby buildings and thereby further enhance the value proposition. Even without the reuse of heat, the return of invested capital less than one year.
On the announcement, Sunstone Partner Jorgen Smidt states: “Sunstone being a long time supporter of Asetek, is thrilled to be part of Asetek’s continued success. This is one of the cases where significant financial returns and strong environmental gains go hand in hand. As such, this combination constitutes a clear call to action for all parties in the server industry. The early customer wins, along with the strong pipeline with key players in the server industry, exemplifies the strong value proposition and the great things to come for Asetek. It is also noteworthy, that even though Norwegian investors naturally form the biggest geographical group at the IPO, they are closely followed by the US, UK and continental Europe. It is extraordinary that a Danish high-tech company, is able to attract such a strong, broad investor base out of Norway and it illustrates that Asetek’s achievements and offerings, have ramifications way beyond its humble beginning in the small Danish town of Brønderslev. At Sunstone, we feel privileged to be part also of this next stage of Asetek’s exciting journey ”
André S. Eriksen, Chief Executive Officer of Asetek, said: “We are very pleased with the response we have received from the investors and that we have reached this important milestone in the Company’s development. The support from existing and new investors will enable us to pursue our ambitious growth strategy that we have been presenting and the listing on the Oslo Stock Exchange will be a first step in what we foresee as an exciting journey ahead”.
Carnegie AS and Arctic Securities ASA acted as joint-lead managers and joint book-runners in connection with the Offering. Crux Kommunikasjon AS acted as IR/communications adviser.
Asetek is the world leading provider of energy efficient liquid cooling systems for data centers, servers, workstations, gaming and high performance PCs. Its products are used for reducing power and greenhouse emissions, lowering acoustic noise, and achieving maximum performance by leading OEMs and channel partners around the globe.
Asetek’s products are based upon its patented all-in-one liquid cooling technology with more than 1.3 million liquid cooling units deployed in the field. Founded in 2000, Asetek is headquartered in Denmark with offices in San Jose, California, China and Taiwan. For more information, visit www.asetek.com.
About Sunstone Capital
Founded in 2007, Sunstone Capital is a leading European early-stage technology and life sciences venture capital firm. The partnership manages around EUR 700 million in committed capital across seven funds. The technology portfolio includes companies such as Amen, MakieLab, Issuu, Layar, Neo Technology, Paymill, Podio (sold to Citrix Systems) and Prezi.
Sunstone invests in Paymill: Sunstone Capital and Holtzbrinck Ventures have invested €10m in German payment services provider Paymill.
Paymill, which is active in 34 countries across Europe and nearby regions since launching in June 2012, gives internet service providers and online stores the ability to integrate common payment methods (particularly card payments) on their websites.