Sign In

Search Press
Looking for press releases of a particular company? Enter company name (or keyword) here.


Energy Ventures establishes second Energy Sector Technology Venture Capital Fund

April 28, 2005 -- Energy Ventures II was successfully launched on the 28th April 2005. The new fund with an expected total committed capital of NOK 575 million is built on the success of Energy Ventures I which had a committed capital of NOK 315 million at its 2nd closing in August 2003. The first fund is expected to be fully invested early summer 2005.

The new fund initiative is supported by its four Cornerstone Investors, which have committed themselves to a total investment of NOK 360 million out of the total expected committed capital of NOK 575 million in the fund. At the First Closing a total of NOK 524 million was committed.

· Ferd AS is one of Norway’s largest private investment firms. Ferd was a major contributor in setting up Energy Ventures I and is the largest investor in the new fund. The active and fruitful co-operation between Ferd and Energy Ventures will continue for the new fund initiative. (
· Argentum is a Norwegian government owned investment company and a leading fund-of-fund investor in the private equity sector in Norway. Argentum was the largest investor in Energy Ventures I and is also a substantial investor in the new fund. Argentum renders valuable advice and assistance to Energy Ventures. (
· Schlumberger is a global oilfield technology services and solutions provider with strong interests in the development and application of new technology relating to various aspects of the exploration and production of hydrocarbons. The company employs over 52,000 employees in 80 countries. (
· Gjensidige Forsikring is Norway’s largest non-life insurance company; with close to 1.5 million policy holders, which corresponds to a market share of over 30 %. Being a mutual company, it is owned by its policy holders. The company was also an investor in the first fund. (

The management team includes Pelle Bildtsén, Einar Gamman, Ole Melberg, Leif Andre Skare and Helge Tveit in Stavanger. The fund is being represented in the UK by Steve J. Carter in Aberdeen. The company is in the process of strengthening its team by two more investment professionals.

The Board of the General Partner includes Endre Ording Sund (Chairman), Finn F. Anonsen, Erik Fausa Olsen, Tollak Melberg, Pål M. Reed and Maarten Scholten.

The Advisory Board includes Arild Bøe, Steve J. Carter, Ketil Lenning, Tore Sandvold, Tor R. Skjærpe, Lars Takla and Kjell Erik Østdahl.
In order to support and improve the performance of the fund, Schlumberger and Energy Ventures have entered into a Technology and Co-operation Agreement that is expected to give benefits to both parties.

The confidence in Energy Ventures’ management team is underpinned by the fact that approximately 2/3 of the committed capital in the new fund comes from investors in the first fund.

“We are extremely pleased and proud of the establishment of a second fund in direct continuation with Energy Ventures I and with the excellent following from the investors in the first fund over and into the second,” says Ole Melberg, Managing Partner. “By now we have NOK 890 million under management which makes us the largest Energy Sector Technology investment fund manager in Europe.”

For further information please visit our web address or contact Ole Melberg at + 47 952 26 030.

Publisher Contact Information:

Energy Ventures
+47 952 26 030

Company profile of Energy Ventures
Past press releases of Energy Ventures.


Tech investments
From our Online Data Service
VC-backed companies
From our Radar

Recent Deals

Dec 21€50.0MKnowledge management
Dec 20€16.0MSemiconductors
Dec 17€18.0MOther Computers & Electronics
Dec 17€5.2MBiotechnology
Dec 17€17.0MBusiness applications
Dec 15€17.0ME-Commerce
Dec 4€3.3MNanotechnology

For information on Europe's most extensive database on technology funding click here!


Press Releases

Sep 30
tetavi raises $6 million to help more companies bring 3d holograms ...

May 28
identiq raises $5m seed, launches privacy-first identity validation...

Apr 29
nethone raised over $1 million from innovation nest

Mar 31
the fit allocates chf 100'000 to comppair technologies

Jan 29
yumpingo raises $10m to transform guest experiences in restaurants

About usContact usLegal Information
Copyright © 1999-2019
Emerging Technology Research Europe Inc. All rights reserved.