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[Funding alert] Oslo-based Verdane Secures Edda III past target at €1.1 Billion Funding

Oslo-based Verdane secures Edda III past target at €1.1 billion funding. In the past six months, Verdane has successfully closed two funds above target, together totalling €2.2 billion, including the €1.1 billion Freya XI fund which held its final close in September 2023.

Oslo-based Verdane secures Edda III past target at €1.1 billion funding. In the past six months, Verdane has successfully closed two funds above target, together totalling €2.2 billion, including the €1.1 billion Freya XI fund which held its final close in September 2023.

Verdane funds partner with ambitious growth companies that help digitalise and decarbonise the European economies. Current holdings include: CAIA Cosmetics, one of Northern Europe’s fastest-growing beauty brands; Evondos, the leader in automated medicine dispensing services for elderly home care clients, and Hornetsecurity, a market leader providing cloud based cybersecurity services to business customers worldwide.

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The Edda series of funds have already made three successful realisations, including Kappa Bioscience to Balchem (NASDAQ:BCPC) in 2022 and HYMA to BHG Group (LSE:0SOM) in 2021.

Verdane will continue to invest thematically in leading European companies that help digitalise and decarbonise the economy. Verdane has consistently deployed capital in these two structural growth megatrends, backing 19 leading European businesses over the past 12 months. Verdane’s largest portfolio companies alone have already created well over 13,300 jobs during their holding period.

Frida Einarson, Partner and Head of Investor Relations at Verdane, said: “Verdane’s ability to close two funds past target in six months, raising over €2.2 billion, is testament to our longstanding dialogues and relationships with our LPs. We are grateful for the strong backing from our LP base. The Verdane platform, our thematic focus and proven value creation recipe have enabled us to consistently deliver strong financial returns to our investors, and we will endeavour to continue doing so.”

Bjarne Kveim Lie, Co-Founder and Managing Partner of Verdane, said: “There has never been a better time to partner with ambitious companies that seek to digitise and decarbonise the European economy. We’re immensely proud to be pioneers in our field and of our 20-year track record. The close of the Edda III fund cements our position as a European mid-market growth leader. Verdane investors value our relentless focus on long term structural growth trends, our north star of being the preferred partner and our combination of deep local networks and world-class thematic knowledge. We are humbled by the continued trust placed in us by our investors and will do our utmost to deliver against their high expectations.”

About Verdane

Verdane is an expert growth investment company that collaborates with sustainable and tech-enabled European companies. Verdane focuses on two main growth themes: digitalization and decarbonisation. It might invest as a majority or minority stake in a company, or as a portfolio of companies.

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