Oslo, Norway, September 29th - Incitia Ventures today announced that it has completed the sale of the remaining 50 % of its original shareholding in Algeta ASA (OSE:ALGETA) by accepting an offer from Selvaag Invest to buy the remaining shares at the same share price as the transaction published on July 7th.
The transaction realizes a complete 8x multiple on the original NOK 33 million investment in Algeta with a total profit of NOK 223 million. Algeta is thus the most profitable investment in the history of Incitia Ventures where the proceeds from the Algeta transactions alone carries the entire first fund.
Jens Petter Falck, partner in Incitia Ventures and former long time Algeta board member said "For us in Incitia Ventures this transaction marks the final end of a nine years remarkable journey with Algeta. For me personally Algeta represent all what I ever dreamed of as a venture capitalist, making all the hard work at times worth while. We are immensely proud of being such a part of Algeta’s history and wish Algeta all the best going forward.”