 | NVCA Activity report H1 2012 - Private Equity Funds in Norway | |
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Activity report H1 2012
Private Equity Funds in Norway
Seed – Venture – Buy Out
The first half of 2012 was dominated by high divestment activity and limited degree of fundraising.
Norwegian PE–firms overall investment level reached almost the same level as in the first half of 2011. Investments in Norwegian enterprises increased by 28 percent, while investments in foreign enterprises dropped by 47 percent.
The overall investment level in Norwegian enterprises by Norwegian and foreign PE–firms fell by 18 percent, compared to the same period in 2011, due to few initial buyout investments by foreign PE–firms.
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| NVCA Activity report 2011- Private Equity Funds in Norway | |
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ACTIVITY REPORT 2011
PRIVATE EQUITY FUNDS IN NORWAY
SEED – VENTURE – BUY OUT
MAIN OBSERVATIONS
During 2011, we observed some substantial changes in the market for venture capital and private equity in Norway. Overall the market is now improving, but the early stage investment segments are still suffering severely. First of all, 2011 showed a strong improvement in the exit activity. The number of industrial sales climbed substantially as compared to both 2009 and 2010. Second, the market in 2011 showed that Norwegian businesses are gradually viewed as more attractive among international private equity investors. Access to such capital is now highly limited in Europe, yet foreign investment activity in Norway has not showed the same slowdown. Third, fundraising is now gradually improving, yet notice that very little capital is channeled from Norwegian sources. Finally, the market now signals strong concerns for the early stage segment: While initial buyout investments continued to increase steadily in number, seed investing has all but disappeared and venture is still declining.
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| Investors reward outstanding performance:NORWEGIAN VENTURE CAPITAL FUNDS WITH IMPRESSIVE FUNDRAISING | |
| Venture capital represents an asset class with relatively high risk. When the economy moves into a recession, investors tend to turn their attention to less risky assets. The financial crisis has evolved just as expected in terms of flight from risk. It has been almost impossible to raise new capital for venture funds, and some financial journalists have already issued a death certificate for venture capital as an asset class. These journalists must have ignored the development in Norway. Norwegian venture capital funds have shown an outstanding ability to raise capital in markets where investors avoid all kinds of risk. Furthermore, most of the capital has been raised from international investors – it is not merely a result of wealthy Norwegian investors.
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| New report released: Nordic Venture Capital: Cross Border Investments | |
| The Norwegian Venture Capital & Private Equity Association (NVCA) and the The Swedish Private Equity and Venture Capital Association (SVCA) have received a new report on the patterns of Nordic cross border venture capital investments during the financial crisis (2007–(H1)2010). The report is written by Menon Business Economics in Oslo. Read more
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