Frontiers Capital acquires the portfolio of Vesta Capital Partners
News Article
Frontiers Capital acquires the portfolio of Vesta Capital Partners
Frontiers Capital has closed a new fund, Frontiers Capital III LP, to acquire the entire portfolio of Vesta Capital for a non-disclosed sum. The portfolio comprises a number of a assets in the technology and related sectors, including stakes in:
Eleksen (www.eleksen.com) a designer of electro-conductive materials used notably in fabric controls for the Ipod.
E-Government solutions (www.egsgroup.com) the UK’s largest exchange for suppliers to the Local Authority market.
INK Publishing (www.ink-publishing.com) the world’s largest publisher of in-flight magazines for the airline industry.The funding for the acquisition has been provided by a group of investors including a well established European secondary fund.
Nigel Spray, Joint Managing Partner of Frontiers Capital, commented: ‘We are delighted to have the support of a high quality investor group to finance this transaction. We have looked at a number of transactions this year - of these the Vesta Capital portfolio comprises assets with the most significant growth potential. We believe that we can use the network of corporate contacts at our disposal, as well as interesting synergies with our existing assets, to add value for investors in the fund over the next two to three years.
Note to Editors:
Frontiers Capital
Since its foundation in April 2001, Frontiers Capital has demonstrated a strong track record of acquiring third party funds. Prior to taking over the management of Vesta Capital, it acquired the Wireless Internet Portfolio of the Carphone Warehouse in April 2001 and in September 2003 merged with nCoTec Ventures.
Frontiers Capital has a portfolio of high quality assets, many of which are in the IT and communications sectors. These include Wavetrend (www.wavetrend.net), a world leading play in the active RFID space, Pervasic (www.pervasic.com), a remote access provider to the enterprise market, weComm (www.wecomm.com), a leading platform provider for the mobile TV and gambling market, Digital Route (www.digitalroute.com), the world’s leading next generation OSS mediation software company and Sirenic (www.sirenic.com), a leading provider of dynamic mobile content management.
Frontiers has also had a number of successful exits including the sale of Synad, a fabless WiFi chip developer, to STMicroelectronics and the sale of Elata, a mobile content delivery platform, to Qualcomm earlier this year.
Frontiers has established a high quality list of corporate investors and partners including Carphone Warehouse, Boeing, IBM, Symbian, NEC and Misys, each of which is represented on the Frontiers Advisory Board. Frontiers’ networked venture capital approach entails working with its corporate partners to assist portfolio companies achieve channels to market.
Vesta Capital
Vesta Capital is the venture capital arm of Vesta Group, a European technology investment and business building organisation based in London. Vesta sources and invests in early stage Internet, wireless and new technology companies, seeking to facilitate their roll-out in a rapid, differentiated and controlled manner.
Contacts:
Nigel Spray or Tim Horlick:
Frontiers Capital
Tel: +44(0)20 7947 8800
nspray (at) frontierscapital.com or
thorlick ( at) frontierscapital.com
Tim Draper:
Financial Village
Tel: +44 (870) 735 1330
td (at) financialvillage.co.uk