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Investor Growth Capital Adds $300M – CORRECTED

Investor Growth Capital, formerly a business unit within Investor AB, announced Wednesday that it is now an independent venture firm with Investor AB as its sole limited partner. Additionally, Investor AB has added $300 million in new capital to the firm’s current fund, IGC Fund VI, bringing the size of the fund to more than $1.3 billion. The firm focuses on expansion-stage technology and healthcare companies in the United States and Greater China.

Investor Growth Capital (IGC), formerly a
business unit within Investor AB, is now an independent venture
capital firm with a portfolio of more than 100 companies globally and
offices in New York, Menlo Park, Beijing and Stockholm. Investor AB,
which remains the sole limited partner, has contributed an additional
$300 million of fresh capital and a portfolio with a current market
value in excess of $1.3 billion to IGC’s sixth fund. IGC Fund VI has a
unique “evergreen” structure that allows IGC to share proceeds
generated from realizations with Investor AB, thereby providing an
ongoing source of capital to fund future investments. IGC will
continue its fifteen-year history of investing in expansion-stage
technology and healthcare companies with a focus on new investment
opportunities in the United States and Greater China.

Steve Campe, President of IGC noted “Since inception, our association
with Investor AB has provided us with the unique combination of a deep
and flexible capital base along with a position inside an
international network of Global 2000 companies. This has been an
important source of differentiation for us as a financial partner to
our portfolio companies, and it is a priority to maintain that
relationship while transitioning to a structure that can support our
continued growth. We are flattered by the vote of confidence from
Investor AB and look forward to continuing to work closely with them
to build value.”
“For nearly one hundred years Investor AB has been dedicated to
building great businesses, and over the past decade we’ve seen
Investor Growth Capital grow into one,” said Borje Ekholm, CEO of
Investor AB. “We see a compelling opportunity in the global market of
expansion stage companies. The IGC team has demonstrated a highly
competitive track record and we believe that this new, more
independent structure will enable their continued growth and
performance. ”
Over the past 5 years, IGC has realized in excess of $1 billion in
proceeds from divestitures of portfolio companies, including notable
exits such as the sale of Kyphon to Medtronic for $4.2 billion, the
merger of Swedish Orphan with BioVitrum for $500 million, and the
recently announced sale of BlueArc to Hitachi Data Systems for nearly
$600 million. In the last 60 days alone, IGC has completed a series
of highly successful exits and IPOs in addition to BlueArc including
the acquisitions of Inquira (Oracle), Carmel Pharma (Becton
Dickinson), Mpex Pharmaceuticals (Aptalis), Dotomi (ValueClick), and
the IPO of Tangoe (NASDAQ:TNGO). Since the beginning of 2011, IGC has
invested over $100 million in promising new portfolio companies,
including Antenna Software, WhiteHat Security, Aptalis Pharma and
Transcend Medical in the U.S., as well as Baihe Holding and Xinghe
Limited in China.
“Our flexible capital structure gives IGC a unique ability to align
with each management team’s financing needs and growth trajectory
while our international footprint allows us to support geographic
expansion through our local market networks and insight. A key to our
long-standing success, these strategies have recently resulted in
liquidity events for companies on three continents, generating returns
from investments dating back to 1997,” said Steve Campe. “We look
forward to partnering with more great management teams and helping
them achieve the full, long-term potential of their companies.”
About Investor Growth Capital
Investor Growth Capital is a global venture capital firm backed by
Investor AB, with offices in New York, Menlo Park, Beijing, and
Stockholm. Since its formation in the mid-1990’s, IGC has focused on
partnering with exceptional, expansion-stage companies in the
technology and healthcare industries. Today, IGC manages an evergreen
fund with more than 100 portfolio companies worldwide and assets
exceeding $1.5 billion. More at
About Investor AB
Investor AB, founded in 1916, is the largest industrial holding
company in Northern Europe with over $20 billion in assets, and a
leading shareholder in a number of Global 1000 corporations, including
AstraZeneca, Ericsson, Atlas Copco and ABB. For almost a century
Investor AB’s business philosophy has been to build best-in-class
companies in sectors in which the group has strong knowledge and a
networking advantage.