The software company hopes to reap the benefits of having a local investor.
Continental restructuring has boosted Europe’s LBO market by almost double over the last six months.
Pinder, Fry & Benjamin forced to pull VCT after lead investor pulled out of its institutional fund.
The private equity firm says it will get returns of more than 20 per cent.
After 12 years at UBS Warburg, Michael Kershaw is moving on to pastures new as European head of financial sponsors.
Swedish venture capital group Atle Euroventures Nordica invested in the round.
Demography was the catalyst for investment policy rethink.
The UK fund manager will make investments in established businesses with financial and commercial problems.
Cazenove Private Equity and b-business partners invested the cash which will be used to fund product development and increase sales and marketing efforts.
The Swedish IT consultancy and venture capitalists IT-Provider, web-angel plc and McKenna Venture Accelerator have set aside SEK 300m (E32.3m) to finance new companies.