Remember Meltwater, the startup that once made waves in media monitoring? They’re back in the headlines, soaking up a cool $65 million investment from Verdane, a European private equity firm. But this isn’t just a cash splash – it’s a strategic partnership with surprising twists.
Verdane isn’t buying directly into Meltwater, oh no. They’re snagging a hefty chunk of Jørn Lyseggen’s investment company, Fountain Venture. Why Fountain? Because Lyseggen is Meltwater’s founder and chairman, still holding onto shares after taking the company private earlier this year.
So, Verdane gets a slice of both Meltwater and another Nordic HR firm called Jobylon. But Meltwater is the crown jewel, boasting a $500 million annual revenue compared to Jobylon’s $5 million. Verdane sees potential in Meltwater’s AI and big data magic, hoping to partner on future investments in similar techy fields.
This deal underscores two key trends in the European tech scene:
- Private equity’s love for scaling tech companies: Verdane isn’t alone. More and more investors are betting big on established startups like Meltwater, eager for those sweet returns.
- Strategic partnerships over direct buys: Sometimes, the best way to get a piece of the pie is to invest in the baker, not the bakery. By partnering with Lyseggen’s Fountain, Verdane gains access to his expertise and future ventures, not just Meltwater.
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