|
Press Release | Munich, 04 March 2005
AdAstra Management-Buy-Out
_With effect from December 31, 2004, the two AdAstra-fund managers Ulrich
Clemm (43) and Thomas Krueger (41) have purchased HypoVereinsbank´s
(www.hvbgroup.com)
holding in the Munich-based venture capital fund AdAstra
Erste Beteiligungs GmbH ("AdAstra"). Both have so far already held a stake
in AdAstra. The transaction came about as a result of HypoVereinsbank´s
increasing concentration on its core business within its Corporates &
Markets division.
_"The management buy-out will have no effect on AdAstra's operative business
since financing of our portfolio companies will continue to be assured after
this transaction," both fund managers emphasized.
_So far AdAstra has invested over €40 million in European and American technology
companies. AdAstra became known to a broader public through the investment and
the successful sale of its holding in SuSE Linux AG to Novell Inc., one of the
biggest European venture capital exits of recent years. AdAstra thus posted a
performance in the upper quartile of vintage year 2000 venture capital
companies.
_Following the correction on technology markets, fund managers Clemm and Krueger
see interesting opportunities for technology investments and are currently preparing
to launch a new successor fund which is aiming at a volume of €175 million. HVB
Group intends to participate in this new fund as an investor. Initial preparations
have already begun.
_AdAstra currently has an interest in the following companies, among others:
· Ask S.A., Sophia Antipolis, www.ask.fr
· Asknet AG, Karlsruhe, www.asknet.de
· Asyntis GmbH, Putzbrunn, www.asyntis.com
· Bäurer GmbH, Donaueschingen, www.baeurer.de
· Gomez Inc., Waltham, www.gomez.com
· Trados Inc., Sunnyvale, www.trados.com
About AdAstra:
AdAstra is a Munich-based independent Private Equity firm, founded in June 2000,
targeting later stage high-growth and technology-oriented companies in IT, telecommunication
and high-tech industries. As a sparring partner to its portfolio companies, AdAstra provides
permanent support through its experienced and interdisciplinary management team and its
contact network.
Contact AdAstra:
Ulrich Clemm / Thomas Krueger
Managing Partner
Phone: +49 89 452 391 36
Contact HypoVereinsbank:
Cornelia Klaila
Phone: +49 89 378 260 17
Fax: +49 89 378 256 99
|
