London and Silicon Valley-based Kennet Partners, the technology growth equity investor, has invested €6.5m in online distributer of branded video content, GoViral.
With more than US$500m in assets under management, Kennet made the investment out of Kennet Fund III. The firm is the first institutional investor to invest in the video company.
Based in Copenhagen, GoViral launches branded video content across an online publishing network. The campaigns are distributed in local languages, on local sites and with local publishers.
As part of the investment, Michael Elias, managing director of Kennet will join the board of GoViral.
Elias said: “GoViral is an established business, fast-growing and profitable, with a global market opportunity. The combination of strong market opportunity, innovative technology and effective management team makes this a very promising investment for Kennet and we are pleased to be the first institutional investor.”
Kennet III is the VC’s largest fund to date and closed on €200m in September 2008. It surpassed its predecessor fund by €135m. Upon closing the fund, Kennet made two investments.
The first was a €7m financing of Telemedicine Clinic (TCM), a Spanish provider of sub-specialised teleradiology services to public and private healthcare providers.
The second was a €22m investment into NTRglobal, a UK provider of on-demand systems management software.