2018, August 24.
As a consequence of Borean Innovation’s investment of DKK4m in Bifrost Communications the Christian Nielsens Foundation increases their investment in Bifrost to a total of more than DKK1.2m.
For each new investor Bifrost routinely invite existing owners to increase their shareholdings to prevent the dilution of their ownership. As in previous rounds several of Bifrost Communications’ existing shareholders as a consequence of an incoming new investor choose to increase their holdings.
“It is not that we wish to maintain the exact same equity interest but on the other hand we don’t want to be diluted too much,” explains Mr. Svend Muusmann, head of administration in Christian Nielsen’s Foundation.
The foundation’s initial investment in Bifrost Communications was made in August 2017.
Bifrost is funded by a double-digit number of private investors. Amongst the investors are the founders, CEO Bo Pedersen and CTO Jesper Bevensee Jensen, and the Technical University of Denmark, DTU.
Bifrost has developed a technology that makes not only large cost savings but also significant efficiency improvements possible for operators globally. Bifrost’s patented technology is the only solution that enables operators worldwide to provide effective gigabit fiber-optic internet connections at reasonable costs and with low power consumption.
The Christian Nielsen’s Foundation was established in 1967 after the death of Christian Nielsen who founded the company Strandmøllen and was successful in manufacturing industrial gasses. The foundation today owns Strandmøllen and supports Danish technological and industrial development by investing in or supporting Danish inventors and manufacturers.
Borean Innovation is an innovation incubator and a limited company owned by private funds together with the Danish state. Innovation incubators invest venture capital in the very early stages of a company.
Read more: Bifrost’s technology.