The Danish Startup Ecosystem Guide - Magasin - Side 65
Nordic Secondary Fund is founded by Peter Sandberg and Frank Lyhne. The team behind N2F
have more than 50 years of experience and a proven track-record as founders, early-stage investors
and managers.
Foto: Nicolai Hegelund Vilhelmsen
when there’s an exit and how big it is,”
says Peter Sandberg, adding that it’s also
a different calibre of companies than
business angels normally invest in.
“You would never get near companies like GoMore, Klarna or Kilo Health
on your own. And if an angel can get
exposure to 20-30 of those companies,
it’s a whole different ballgame - they’ve
already proven they’re a good business.”
After four lucrative exits in the first
fund, N2F expects that there will be
companies in the portfolio that are not
going to be profitable. Therefore, the fund
also spreads the investments in each
fund across 20-30 companies to reduce
sensitivity.
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A better flow in the ecosystem
Peter Sandberg does not see N2F as a
competitor to business angels, venture
funds or private equity. They will own
a maximum of 10 per cent of a company - in some cases down to 0.5 per
cent - and as a minority investor they
do not seek board representation, but
are in close ongoing dialogue with the
companies, updating the fund’s investors quarterly on developments in each
company.
He sees the fund as an important complement that helps increase liquidity in the
entire ecosystem - because when founders
or early investors get money back, it is
often reinvested in the ecosystem.
N2F
•
Founded in 2018, Nordic Secondary
Fund is the first and only fund in
the Nordics to exclusively invest
in secondaries. The Private Equity
“Secondaries” asset class is an
attractive alternative investment
with high yields and is a source
of diversification for investors to
mitigate overall risk.
•
Nordic Secondary Fund acquires
secondary stakes in companies
that have completed a Series-A
capital raising from venture capital
or corporate venture. Companies
with a proven business model. N2F
we aim to invest at a substantial
discount to the latest funding round
at expect to see a 2x-5x upside and
an exit within 5 years.
•
The fund has invested in 30 companies
– including GoMore, Varjo, Kilo.Helath,
TransferGo, Bob W.Funderbeam,
Klarna, Pixieray, Bokio and Unacast.
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