InnovationsKapital Invests in a Micro Optics Company, Heptagon OY.Business Editors STOCKHOLM, Sweden--(BUSINESS WIRE)--Aug. 22, 2000 InnovationsKapital, a Swedish venture capital firm, and Sitra, the Finnish National Fund, have made an investment of 1,8 million Euros into Heptagon OY to finance further expansion of its operations. Heptagon Oy, based in Helsinki, is a leading company in the field of micro-optics - with world-wide recognition for its expertise in the design and manufacturing of diffractive dif·fract intr. & tr.v. dif·fract·ed, dif·fract·ing, dif·fracts To undergo or cause to undergo diffraction. [Back-formation from diffraction. optical elements. The demand for innovative diffractive solutions is growing rapidly across many industry sectors. Examples of applications for advanced diffractive solutions include fiber optics fiber optics, transmission of digitized messages or information by light pulses along hair-thin glass fibers. Each fiber is surrounded by a cladding having a high index of refractance so that the light is internally reflected and travels the length of the fiber systems and components, displays, disk-drive components, and industrial instruments. "The micro-optics area represents a 'high potential, high growth' area world wide within many high tech sectors. Heptagon has since long acquired world class skills in the field of diffractive optics design and know-how," says Robert Gothner, General Partner of InnovationsKapital. "Our investment in Heptagon fits very nicely with our current strategy in the Nordic region and complements our portfolio of technology companies very well." "We are happy to have InnovationsKapital on-board our team. They bring valuable development and operational experience from similar companies, and we hope to leverage this into our company," says Jyrki Saarinen, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Heptagon. As part of Heptagon's plans to expand it's operations, Heptagon OY has acquired the micro-optics part of CSEM CSEM Centre Sismologique Euro-Méditerranéen (France) CSEM Centre Suisse d'Electronique et de Microtechnique (Switzerland) CSEM Case Studies in Environmental Medicine (ATSDR) , in Switzerland. Earlier this year, Jan Melles joined Heptagon as a shareholder and board member - with over 35 years of experience in laser and electro-optics industries, Mr. Melles adds valuable support to Heptagon's future success. InnovationsKapital was founded in 1994 and is one the largest early stage venture capital firms Name Location Founding date Managing Partners/Directors Specialty Capital managed 5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M [1] in Sweden today. The business is focused on investments within the Information & Communications Technology Noun 1. communications technology - the activity of designing and constructing and maintaining communication systems engineering, technology - the practical application of science to commerce or industry and Health Care Sectors. InnovationsKapital's portfolio currently consists of 23 investments, of which a number are due for an IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. within the next year. InnovationsKapital manages a total of SEK SEK In currencies, this is the abbreviation for the Swedish Krona. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 550 million in two funds that include highly reputable Nordic and international investors. Further information can be found from the following web pages Heptagon www.heptagon.fi InnovationsKapital www.innkap.se Sitra www.sitra.fi ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/08/22/20000822BIT01090/bit0001.pdf http://www.bit.se/bitonline/2000/08/22/20000822BIT01090/bit0002.doc |
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