Danish IT firm gains extra development cash and a new US investor  

2008.09.25
North Jutland-based Asetek, which makes liquid cooling systems for PCs, has raised DKK 85m in extra investment cash and has attracted New York-based investor D.E. Shaw
The world may be in the grips of the worst financial crisis since the great Crash of '29, but that hasn't stopped the north Jutland firm Asetek, which specialises in thermal management for PCs, from raking in DKK 85m (USD 16.8m) in fresh venture capital and gaining a new American investor along with it, writes financial daily newspaper Børsen.
 
Asetek specialises in producing liquid cooling systems for PCs, and counts major names such HP, Dell, Acer and Packard Bell amongst its customers. Last September, this website brought news that HP had chosen an Asetek liquid cooling system for its Blackbird 002 gaming PC.
 
The latest cash injection, which will reportedly be used for boosting sales and marketing activities and supply chain development, comes from an existing group of investors comprising Northzone Ventures, Sunstone Capital and KT Venture Group - plus a newcomer in the shape of New York-based D.E. Shaw.
 
Including the new injection, Asetek has received approx. DKK 150m (USD 29.6m) in investor cash since 2000 when the company was established.
 
Founder and director André Sloth Eriksen told Børsen: "We are proud of the trust our investors have shown in the midst of this global financial crisis, where capital is in such short supply. The large investment demonstrates that our technology is strong and that our market development is going in the right direction."
 
Link > Asetek 

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