Vorndran Mannheims Capital ("VMCap") formerly known as, Ventizz Capital Partners was established in 2000 by Dr. Helmut Vorndran. The aim was to set up a private equity company focusing on mature technology-oriented high-growth companies. The primary difference to other investors was and is the management's entrepreneurial background and experience in global operations. This experience ranges from SMEs and large enterprises, over strategic consulting for a leading management consultancy to operational execution and financial control for a multi-national enterprise.
When the first fund was set up in 2000, eight young high-tech companies from the IT, medical technology, nanotechnology and photovoltaic sectors were financed with private equity and venture capital totaling € 30 million. Careful selection and in-depth support meant that most of these associates were able to constantly increase their revenues and earnings. As a result, after the sole associate left in the Ventizz portfolio has been sold, this first fund has generated a positive return which is in the top quartile in its sector of vintage 2000 funds.
The VMCap team, with support from its partner Willi Mannheims, successfully launched a second private equity fund in 2004. During the period of only six months, Ventizz Capital Fund II, L.P. fund, with a volume of € 67 million, was established from international financial investors. The funds were invested in high-growth companies after an in-depth selection process. Düsseldorf-based Vorndran Mannheims Capital Advisors (formerly Ventizz Capital Partners Advisory AG) is the fund's exclusive adviser for its investments in Europe's German-speaking regions. The fund performance to date means that the fund's profitability makes Ventizz II to one of the best German and European funds of this decade.
The portfolio company ErSol Solar Energy AG (Erfurt) went public in September 2005 the highlight of that year for VMCap. The offering was oversubscribed 50-fold with a market valuation of € 500 million, making ErSol one of the most successful IPOs in Germany in 2005.
In the fall of 2005, the third fund, Ventizz Capital Fund III, L.P., achieved its first close with a volume of € 50 million from existing investors from the second fund. Düsseldorf-based Vorndran Mannheims Capital Advisors GmbH is also this fund's exclusive adviser for its investments in Europe's German-speaking regions. Through to 2006, Ventizz III acquired majority interests in four leading high-tech companies in the medical technology, smart cards, electronics and optics segments.
The second IPO from the Ventizz Capital Fund II, L.P. portfolio was held in April 2006. SAF Simulation, Analysis and Forecasting AG, an associate in the information and communication technology sector, went public in Frankfurt Stock Exchange's Prime Standard. Ventizz Capital Fund III, L.P. finally closed in the fall of 2006 with a volume of € 125 million. Several strategic follow-on acquisitions were also executed in the second half of 2006 and 2007 for the portfolio companies CardFactory AG, Innovatis AG and AEMtec GmbH.
In 2007, VMCap substantially expanded its investment advisory organization with both new office space and staff, and now operates with ten investment professionals in St. Gallen and Düsseldorf. The private equity funds are domiciled in Delaware and Jersey. In June 2007, Ventizz Capital Fund II, L.P. realized its third successful IPO when PV Crystalox Solar PLC was listed on London Stock Exchange.
The greatest success in 2007 was the final closing at the end of the year for the fourth fund Ventizz Capital Fund IV, L.P., with a volume of € 450 million after a fundraising period of just six months. Ventizz was able to acquire well-known investors from German-speaking regions (15%), the rest of Europe (30%) and North America and Asia (55%) as limited partners. 35% of the funds are provided by fund-of-funds, 21% by university and other foundations, 14% by pension funds, 13% by industrial companies and 12% by banks and insurance companies. Its size means that the new fund Ventizz Capital Fund IV, L.P. is significantly larger than the previous Ventizz funds.
In 2008 VMCap succeeded in selling its majority stake in ErSol to Robert Bosch GmbH for a € 101,- per share. This landmark transaction was honored with the Small-/Mid-Cap Exit Award of the year 2008 by “Deutsche….unquote”. The transaction made Ventizz II to be the probably best-performing private equity fund of the decade in the German-speaking region.
2008 has been the most successful year to date for VMCap. The sale of the majority interest in ersol Solar Energy AG for around EUR 550 million to Robert Bosch GmbH marked a key highlight. VMCap was honored in the well-known industry magazine Deutsche unquote" for its participating interest in further development and finally the sale of ersol in the category "Small/Mid-cap Exit of the Year" with the Private Equity Award 2008. In addition, Ventizz Capital Fund II, L.P. sold its interest in PV Crystalox in the spring.
The formation of Vorndran Mannheims Management Consulting (formerly Ventizz Management Consulting AG), which was initiated in 2008, means that the private equity company now also has a management consulting firm, in particular also for the Ventizz funds' portfolio companies. The new consulting company will provide advice to management in optimizing workflows and structures and entering new markets to thus accelerate growth. The consulting expert Guido Bollue is putting a top-quality team in place for just this purpose. Three additional investment professionals joined the VMCap investment team during the course of the year: Dr. Jochen Brellochs, Christof Knop and Christian Sarwa.
Vorndran Mannheims Capital operated until June 2012 under Ventizz Capital Partners. The name change was in order to emphasize the focus on mid-sized tech buy outs.