Viking Venture III Invests in poLight
Viking Venture III has invested NOK 10 million in poLight. The investment was done by a private placement of a total of NOK 22 million towards Viking Venture III AS, Alliance Venture Polaris AS, and Sintef Venture III AS, and existing shareholders and employees in poLight.
In addition, SINTEF/Sinvent AS has in connection with the private placement transferred patent and process technology to poLight. The technology has an estimated value of NOK 24 million.
Ignis ASA, which until now owned 48.6 % of poLight will not participate in the private placement, but will extend a convertible loan to poLight of NOK 10.7 million until 31.12.2013.
poLight is situated outside Oslo and has been capitalizing on its’ unique and patented technology since 2000.
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| Fund | Viking Venture III IS Argentum share 13.31% |
| Portfolio Company | poLight |
| Date of Transaction | 2009-05-12 |
| Transaction | Acquisition |
| Seller | |
| Buyer | |
| Size of Transaction | NOK 11.0m |
| Ind. Focus | ICT |
| Geography | Norway |
| Stage | Venture |