History

Funds advised by Verdane Capital Advisors have a long track record of investing in small and medium-sized high-growth businesses. The firm was founded in 2003, when Bjarne Lie and Thomas Falck spun out of Norwegian venture capital firm Four Seasons Venture.

The history of Verdane Capital begins with the formation of Four Seasons Venture (“Four Seasons”) in 1985 in Oslo. The firm was established as the Norwegian affiliate of Advent International, and was one of the first venture capital investors in the Nordics. Four Seasons was founded by Birger Nergaard, who was joined by Gunnar Rydning in 1986. The firm raised three funds between 1986 and 2000, pursuing an early stage direct investment strategy in the ICT sector.

Bjarne Kveim Lie, the current Managing Partner of Verdane, joined Four Seasons in 2001. He recognised the need to scale and to move the focus towards more mature growth assets. On that basis, he and Thomas Falck drove the acquisition of a portfolio of 96 growth companies from the Norwegian government in 2003. A new fund, initially called Four Seasons Venture IV (later Verdane Capital IV), was raised to finance the transaction. The team spun out of Four Seasons Venture into a separately managed advisory firm, that became the starting point for what is today known as Verdane Capital. Several employees that worked with the portfolio prior to the acquisition were offered employment with the new firm and Verdane partners Arne Handeland and Atle Søvik joined at that time.

In 2005,Verdane Capital V was established to acquire a portfolio of direct holdings from Skandia Liv, and to pursue other investment opportunities. Partner Henrik Aspén joined the firm from Skandia Liv at closing of the transaction and became a founding member of Verdane’s Swedish team. In conjunction with the establishment of Verdane Capital V, the legacy venture capital business managed by Gunnar Rydning and Birger Nergaard was merged back into the enlarged group.

Bjarne Lie took the helm as the first managing partner of the combined group, and implemented the matrix operating model that has been key to the firm’s success. In short, it implies that all investment professionals are part of a sourcing team organised by country, and also members of one of the active ownership focused vertical groups: Software, Consumer Internet, Energy & Environment and Advanced Industrials.

From its inception in its current form in 2003, Verdane has focused on investing in high growth companies, with a strong emphasis on technology and technology enabled businesses. Verdane Funds can invest directly into individual companies, or become owners through portfolio acquisitions or partnerships. Verdane has always been a heavily engaged investor, managing its core companies as a hands-on owner and ambitious partner to management. The firm has a strong track record of helping to deliver growth, strategic positioning and ultimately exit.

Since 2003, Verdane has completed 367 investments, delivering 268 realisations. This wealth of experience has resulted in a depth of technology expertise and networks that are unparalleled in Northern Europe, underpinning the Firm’s reputation as a unique and attractive partner for high growth companies.