The Belgian government has released a new compromise - Unquote
The Belgian government has released a new compromise - Unquote
The Belgian government has released a new compromise - Unquote
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early-stage<br />
unquote<br />
People<br />
Tarja Berge worked on the deal for ALMI and will hold a short-term position on the company’s board<br />
of directors, with representatives from the co-investors taking permanent roles.<br />
Advisers<br />
Equity – Lindahl (Legal).<br />
NORWAY<br />
EARLY-STAGE<br />
MemfoACT<br />
NOK 16m<br />
Location Trondheim<br />
Sector Alternative fuels<br />
Founded 2008<br />
Staff 6<br />
Viking leads NOK 16m investment in MemfoACT<br />
Transaction<br />
Viking Venture <strong>has</strong> led a consortium of investors consisting of Alliance Venture, Salvesen og Thams and<br />
Glør Iks in a NOK 16m funding round for MemfoACT.<br />
Viking’s contribution comes from the Viking Venture III fund. <strong>The</strong> company is a spin-off from<br />
NTNU Technology Transfer and established contact with Viking through the investor’s relationship<br />
with NTNU.<br />
<strong>The</strong> investors were attracted to the company because they believe it <strong>has</strong> a unique technology for<br />
gas separation. <strong>The</strong> application of its product to biomethane and its use as alternative fuel was also<br />
stated as an attractive business model for the investors. Funding will support further development<br />
of the product.<br />
Company<br />
MemfoACT <strong>has</strong> developed a technology for upgrading biogas and the separation of other gases. <strong>The</strong><br />
company’s core business is gas purification, with a focus on upgrading biogas to fuel quality.<br />
<strong>The</strong> company was founded in 2008 as a joint venture between NTNU and a group of entrepreneurs.<br />
MemfoACT currently employs six people and is headquartered in Trondheim, Norway.<br />
People<br />
Gøril Forbord is CEO of MemfoACT. Viking will have a representative on the company’s board<br />
of directors.<br />
DENMARK<br />
EARLY-STAGE<br />
Reapplix ApS<br />
DKK 7.6m<br />
Location Birkerød<br />
Sector Biotechnology<br />
Founded 2008<br />
Staff 2<br />
SEED Capital backs Reapplix with DKK 7.6m<br />
Transaction<br />
Danish venture capital firm SEED Capital <strong>has</strong> invested DKK 7.6m in biotechnology company Reapplix<br />
ApS. <strong>The</strong> investment comes from the SEED Capital Denmark II fund, which raised DKK 435m at first<br />
close in February 2010 and <strong>has</strong> a target of DKK 750m. This is the second investment in the company<br />
by SEED, following a minor funding round in 2008.<br />
SEED made the additional investment following successful clinical tests of the company’s product. <strong>The</strong><br />
<strong>new</strong> capital will support further clinical tests, as well as prepare the company for the commercialisation<br />
of its product.<br />
Company<br />
Reapplix <strong>has</strong> developed a product called LeucoPatch, which treats chronic foot ulcers affecting<br />
22 UNQUOTE OCTOBER 10 ENTIRE CONTENTS COPYRIGHT 2010 INCISIVE MEDIA INVESTMENTS LTD<br />
www.unquote.com/nordics
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