Icon Capital was established end of 2001 to create a leading Nordic based investment firm to invest in high growth industries. The firm was initially a niche player in the TMT sector (telecom, media and technology) but the scope was later broadened due to new opportunities created by the highly dynamic business environment during the years following 2001 (economic decline).
Icon Capital has backed and played a lead role in developing some highly successful companies within the oil & gas, TMT and the financial services sector. Diversification across and within industries, and by stage has been a core principle of Icon Capital’s investment strategy. Icon Capital has in the past successfully invested in Nordic based companies and in two very selective opportunities in the Seattle area through our local partners. Icon Capital has built an exceptional team with a broad range of investment and operating experience, and a strong commitment to success.
The firm’s follow up to the initial six investments was the success of B2 Holding (parent company to Gothia Financial Group AS and Bank2 ASA) which was developed from scratch in 2005 to a market value estimated to be in excess of NOK 1.5 billion in 2008. Icon Capital was instrumental in all phases of B2 Holding’s and its subsidiaries rapid development. Icon Capital sold Gothia Financial Group to a large Nordic private equity player in September 2008 for approximately NOK 1.2 billion. Following the transaction the shares in Bank2 ASA was distributed to the investors. For the Icon Capital Team the special purpose project B2 Holding is therefore a closed chapter with an excellent return to the investors.
Key factors that account for icon Capital’s excellent reputation include; a consistent record of superior financial returns, a distinctive investment approach focusing on operational value creation, and the ability to attract outstanding people. The realization of Scandpower Petroleum Technology AS was awarded the “Nordic Mid-Market Exit of the Year” in 2007 by the leading private equity magazine “unquote”
We are also very thankful to the institutional investors (banks and insurance companies), the corporates and the high net worth individuals who have committed capital to Icon Capital in the past.