Cliff Higgerson, Palo Alto, CA, previous General Partner in several VC-funds in Silicon Valley invests in Stoaf III SciTech and accepts to become its Senior Advisor.
"We are very happy to see the confidence of a Silicon Valley heavyweight such as Cliff shows for Stoaf by investing in our third fund" says the fund´s CEO and General Partner P A Wärn. "He will via his long and successful experience as General Partner in ComVentures and Vanguard Ventures contribute valuable competence to our GP team".
EmbeDL, Gothenburg is a spin-off from a big EU-financed collaborative R&D project with Chalmers University. It has a unique technology for testing sophisticated components used by the automotive industry among other engineering industries. Co-investors are Almi Invest and Chalmers Ventures.
STOAF III SciTech and Almi Invest invest in a first tranche 3 MSEK each in Limina, Stockholm. It has developed the asset management market´s first complete cloudbased asset management system for hedge and mutual funds. In the same financing round of 15 MSEK participates also Vidici II and Justin Wheatley – the founder of his recently sold listed StatPro participated among other participants.
- LImina has a great opportunity to accelerate both sales and the continued development of the functionality of its system Captron. The company has the potential to reach a leading global position says P A Wärn, General Partner at STOAF who will take a seat at the board of directors.
Lennart Lübeck with a background as co-founder and CEO of the Industry Fund, CEO and Chairman of the Board of Rymdbolaget, Chairman of the Board of SMHI and more was elected Chairman of the Board of Stoaf's third fund by the Annual General Shareholders Meeting.
At its first closing Stoaf III SciTech reached a capitalization in half a year which was twice the capitalization of Stoaf II and in less than a quarter of the time.
The capitalization aimed at bringing in experienced business angels with competences in the four B2B investment areas from which Stoaf III generates its deal proposals.