News
Our first year – and our tenth
[03.02.10]
Fiscal year 2009 was our second complete year as a full-fledged Start-up investment company.
The highlights of the year include:
-The launching of Open Ocean Capital Oy and the fund Open Ocean Fund Two Ky
-The planning of Open Ocean Fund Three Ky
The main focus area of Sirius for the next few years will be as a co-owner in Open Ocean Capital. Together with Michael "Monty" Widenius and Patrik Backman we have decided to help start-ups and utilize our experiences to help achieve success.
At yearend, Sirius' portfolio of companies, including the portfolio of Open Ocean
Fund Two, represented an aggregated turnover of 11 M€ and employed 120 people in 10 companies. Sirius’ share of holdings in these companies varies between 5 and 48 %. In addition some holdings include options or convertible loans.
Regardless of the gloomy general economic outlook, we envision a highly agile year 2010, with at least 4-6 investment deals in new Start-ups. These will mainly be done in Open Ocean Fund Three. In addition, some existing portfolio companies will need additional investments to ensure healthy growth.
The year was also the tenth full year for Sirius Consulting Oy as a company.
-Sirius started as a management consulting firm, but has evolved to be a holding company for our interests in direct start-ups and in the Open Ocean group.
To celebrate our tenth anniversary we arranged a party in Helsinki on Monday, November 30 at Storyville Jazz Club, entertained by Spirit of New Orleans, who played wonderful traditional New Orleans Jazz with a 21st century flavor. We thank all who joined us there. GREAT FUN!
