vuosikirja / yearbook 2007 – 2008 - Suomen pääomasijoitusyhdistys ry

statictics24Companies in the manufacturing industry receivedthe most initial investment in terms ofthe value of the investments. Investments inthe manufacturing industry totalled 52 millioneuros and numbered 58. The industriesthat received the next most initial investmentwere Life Sciences (14 million euros, 18 investments)and ICT (11 million, 34).Investment activity shifted towards existingportfolio companies and, for the first time,the amounts invested in initial and follow-oninvestments are virtually equal. The ratio ofinitial to follow-on investments remained almostunchanged from the previous year withinitial investments making up 40 % and follow-oninvestments 60 % of all investments.The average size of initial investments in 2006was 0,68 (0,74) million, while the median was0,25 (0,30) million euros.Buyouts made up 46% of the total value ofinitial investments. The total value of initialinvestments in buyouts was 86 (115) millioneuros for 37 (45) investments. The averageand median sizes for initial investments inbuyout deals settled were 2,3 million (2,6 in2005) and 0,40 (0,49) million euros, respectively.The number of companies that received theirfirst ever investment from a venture capital orprivate equity fund was 90. Of these companies,73 (75) companies were venture capitalfinanced and 17 buyout deals.Stage distributionThe value of the investments made in companiesin the expansion stage was the greatestat 111 (77) million euros for 113 (122)investments. The phases of development thatreceived the next largest value of investmentwere the early stage (40 million for 84 investments),start-up stage (26 million for 93) andseed stage (12 million for 79). Secondary financingwas used to the extent of 51 million(15 %) in 25 investments.The share of early stage investments remainedstatic at 56 % (55 %, 2005) while that of investmentsinto companies in the expansionstage decreased to 25 % (29 %) of the totalnumber of investments in 2006. Buyouts andsecondary financing accounted for 10 % and6 % of all investments, respectively.Industry distributionMost venture capital investments were madeinto medical related industries. A total of 55(22 %) million and 57 individual investmentswere made into the medical related sector. Thenext largest sums were invested in manufacturing(37 million/15%, 25 investments), industrialproducts and services (23 million/9%,49) and computer related industries (22 million/9%, 83).Buyout funds also invested the most in medicalrelated industries with total investmentsof 38 million (37 %). Investments in industrialproducts and services amounted to 26 million(26 %) and those in consumer productsand services to 16 million (15 %). In 2006 thetotal investment volume of buyout funds was102 million for 44 investments.The largest number of venture capital investmentswas made in computer related industriesthat received 89 investments - almost22 % of the total number of venture capitalinvestments (410). The second largest industrysectors in terms of the number of investmentswere the medical related industries (57,14 %), industrial products and services (49, 12%) and electronics (45, 11 %) Industries.87 million euros of venture capital investmentswere made in hi-tech companies (35% of all venture capital) (97 million / 28 %