Verdane picks up three-company German portfolio from Bauer Media Group

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Verdane Capital has tapped its SEK3bn ninth fund to buy a three-company portfolio from Germany’s Bauer Media Group.

CareerFoundry provides online tech courses in web development, user experience and user design, Kyto online optimisation for SME businesses that use online classified portals to present their products and generate leads, and navabi is an online retailer for women’s plus-sized fashion.

Verdane partner Staffan Mörndal said, “We continue to see major opportunities in a maturing German market to employ our expertise and experience of working in the Nordic ecosystem.

“This acquisition is an excellent fit with our investment strategy of contributing to build rapidly growing tech companies and support international expansion.”

Verdane said it planned to expand CareerFoundry and Kyto into new markets, and drive navabi’s growth and further penetration in both current and new markets in the EU and US.

The firm’s ninth fund, which it closed two years ago, is already active in the German market, having invested over EUR 30m in Smava, a marketplace lender in Germany, Searchmetrics, one of Germany’s leading search engine optimisation platforms, and Hornetsecurity, a provider of cloud security solutions.

Last month Verdane pulled in SEK3bn for a hard cap close of its latest flagship fund, Verdane Edda.

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