Swedish VC Company Chooses Back-Door Listing in Stockholm
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Ledstiernan has taken a back-door entry to the Stockholm exchange via listed company Empire, with the expectation that the market presence will hasten the arrival of more venture capital.
Ledstiernan, which aims to use VC funds to invest in mobile Net ventures, is venture capital company focusing on IT, telecommunications and the media startups. Its focus began to migrate to mobile interests over the last several months.
Under the terms of the deal, Ledstiernan will be sold to exchange-listed Empire, though the company will soon change its name to Ledstiernan and will effectively be controlled by the venture capital company.
Ledstiernan is known for its successful, early investments in such promising companies as Boxman, Cell Network, Double Click, Information Highway, MultiQ, Net Insight and Unwire.
Johan Wachtmeister, Chief Executive Officer of Ledstiernan, added that the company has been approached by an increasingly large and qualified number of mobile communication technology companies to fund new wireless projects, ranging between 30 and 40 suggestions for investment each week.
Carlzon, who was formerly the president of Scandinavia Airline Systems, added that he aims to build his new company to become one of Europe's biggest VC resources.