Saints Capital to Acquire Interests in Ten Companies From Innovacom Gestion
(Marketwire Via Acquire Media NewsEdge) SAN FRANCISCO, CA, September 4 / MARKET WIRE/ --
Saints Capital, a leading secondary
direct investment firm, today announced that it has acquired interests in
ten different companies from Innovacom Gestion, an active early stage
investor in Europe and North America. As part of the transaction, Saints
will acquire all of the Innovacom shares in Actelis Networks, Inc.,
Air2Web, Inc., Aperto Networks, Inc., Envivio, Inc., Kirusa, Inc., KXEN,
Inc., Netasq, Selligent SA, and Xtime, Inc., as well as a partial share
position in Witbe.Net.
"While most people only think of IPOs or acquisitions when it comes to
realizing liquidity on investments, this deal is a prime example of Saints'
ability to provide a third form of liquidity: the direct secondary sale.
The direct secondary can be a much faster liquidity solution and still
provide attractive valuations," said Ken Sawyer, managing director of
Saints Capital. "Investing in assets that are domiciled both in the United
States and Europe illustrates our firm's unique ability to close a
transaction with assets located around the world."
Saints is the leading global investment firm focused solely on the
acquisition and management of venture capital portfolios on a secondary
basis. These activities assist sellers who are seeking to obtain immediate
liquidity for their investment stakes or to minimize future investment
requirements in private equity. Saints remains committed to partnering with
sellers to meet their objectives while providing portfolio companies with
the necessary follow-on capital and a stable, long-term committed investor
As active managers, a senior investment professional at Saints will serve
as a director on the boards of Envivio, Kirusa, KXEN, Selligent and Xtime.
"This specific fund was nearing the end of its lifecycle, and we had a
number of very attractive investments for whom a traditional exit at this
time did not make sense. With this transaction, Saints will step in to
provide the continued capital necessary to help these companies grow and
ultimately execute on their strategy," said Denis Champenois, chairman of
the board of directors with Innovacom Gestion. "We are excited to partner
with Saints, as we feel that they will provide a similar caliber of
stewardship and value-add for these companies in the years to come."
Campbell Lutyens, a global specialist secondary advisory firm, acted as
exclusive financial adviser to Innovacom on the transaction.
Innovacom is a venture capital firm, based in Paris, investing in
telecommunication and information technology start ups. Since 1988
Innovacom has helped launch innovative companies such as Business Objects,
Cobalt Networks, Gemplus, Intershop, Kelkoo, LastMinute.com, Netcentrex,
Inventel, Infovista, Soitec. With over $600 million under management,
Innovacom is investing internationally in early stage companies.
About Saints Capital
Saints Capital is a leading direct secondary acquirer of venture capital
and private equity investments in emerging growth companies around the
globe. Saints also makes traditional direct venture capital investments on
a primary basis and in special situations in technology, healthcare,
consumer and industrial companies in the United States. Saints is
headquartered in San Francisco, with investment professionals throughout
Europe and Asia. Saints currently manages funds with investments in over
175 individual companies totaling approximately $2.0 billion in originally
invested capital. www.saintsvc.com
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