Nordic Eye posts record returns of one billion in 2020
Although 2020 was a difficult year for several of Nordic Eye’s portfolio companies due to the Corona crisis, the Venture Funds under management of Nordic Eye ended the year with a net result of EUR 132.8 M (approx. DKK 988 M) and a total value of the portfolio end of year of EUR 246.4 M (DKK 1,833 M).
“We are, naturally, very satisfied with the results and the overall development of the value in our portfolio”, says Peter Warnøe, Partner and Founder of Nordic Eye, “and we have good reason to believe that the positive development will continue in 2021.”
Several of the companies in the portfolio, with a total of 16 companies, have contributed to the positive result. Especially Bellabeat, that offers technology-based wellness solutions for women as well as the Danish based Blue Ocean Robotics.
The market value of Bellabeat, headquartered in San Francisco, has recently been estimated to have grown to USD 1 B.
Nordic Eye’s results are based on a total of 5 funds under Management. It includes Fund 1, which was established in 2017 and became fully invested in 2019, three smaller Annex Funds established in 2020, and the brand-new Fund 2, which was established in the Fall of 2020.
Fund 2 is off to a really good start and our goal is to raise up to EUR 150 M from both institutional and private investors during 2021. As with Fund 1, the new fund will invest in promising growth companies in technology and lifestyle with the one difference being that Fund 2 will be able to invest larger amounts in the most promising companies.