Selected Cases

Nicoya

Andulf acted as lead legal advisor for Nicoya.

Creandum

Andulf Acted as Lead Legal Advisor for Creandum. They Back the Companies of Tomorrow.

Norrsken VC

Andulf Acted as Legal Advisor for Norrsken VC. They are Investing in Start-ups Solving the Worlds Biggest Problems While Building Massive Businesses.

Norrsken VC

Andulf Acted as Legal Advisor for Norrsken VC. They are Investing in Start-ups Solving the Worlds Biggest Problems While Building Massive Businesses.

February 2024

Verdane

Andulf lead legal counsel when Verdane closes Edda III

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February 2024

Infrateq Group Holding AB

Sale of Infrateq and Investment in Binero Group AB (publ)

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Andulf acted as sell side advisor in the sale of Infrateq Group AB to Binero Group AB (publ) and in the sellers’ subsequent investment in Binero Group AB (publ).

January 2024

One Agency Holding

Merger of One Agency, Nordicstation and Polarcape

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Andulf acted as legal advisor for One Agency Holding AB in connection with its acquisition of Polarcape Consulting AB and Nordicstation AB.

January 2024

Stella Capital

Stella Capital Lead Investor in Qvalia AB

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Andulf acted as legal advisor for Stella Capital in connection with its investment in Qvalia AB, a Swedish financial technology company.

November 2023

Verdane

EasyPark Group intends to acquire Flowbird Group

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Andulf acts as legal advisor to Verdane when portfolio company Easypark intends to acquire Flowbird.

November 2023

Norrsken22

Norrsken22’s debut fund closes at $205M to back growth-stage startups in Africa

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Andulf lead legal advisor when Norrsken22 closes debut fund at USD 205m to back startups in Africa.

September 2023

Monterro

Acquisition of PLAYipp

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Andulf acted as legal advisor for Monterro in its acquisition of Swedish SaaS company PLAYipp. PLAYipp offers a platform for user-friendly, secure management and publication of information from multiple sources to digital screens and digital meeting room bookings.

September 2023

Verdane

Andulf lead legal counsel when Verdane closes Capital XI

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September 2023

Spintop Ventures

Spintop lead investor in Elastisys AB

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Andulf acted as legal advisor for Spintop Investment Partner IV in connection with its investment in Elastisys, a spin-off company from Umeå University, specializing in cloud native technologies with a strong commitment to information security.

August 2023

Eterna Invest AB (publ)

Sale of Progrits

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Andulf acted as legal advisor to Eterna Invest AB (publ) and to the minority sellers in connection with the sale of Progrits AB to Axcel. Progrits is a leading vertical software and information services company within business to business.

July 2023

Standout Capital

Standout Capital invests in Setly

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Andulf acted as legal advisor for Standout Capital in its investment in Setly, a technology-oriented accounting and payroll services provider.

July 2023

Stella Capital

Stella Capital invests in Schain and Mailo

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Andulf acted as legal advisor for Stella Capital in connection with its investment, via a new co-owned company, into the two related companies Schain Research AB and Mailo Global AB.

July 2023

Bellman Group AB (publ)

Acquisition of Varbergs Grävteknik

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Andulf acted as legal advisor to Bellman Group AB (publ) in connection with the acquisition of Varbergs Grävteknik AB.

July 2023

Areim

Areim signs agreement to buy all shares in HAM Nordic – gains full control over Magnolia Bostad AB

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Andulf acted as legal counsel to Areim Fund V in respect of the purchase of shares in Magnolia Bostad AB’s holding company HAM Nordic AB.

June 2023

PRI Pensionsgaranti (PRI)

PRI invests in Quinbrook Infrastructure Partners III

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Andulf acted as legal advisor to PRI in connection with its investments in Quinbrook Infrastructure Partners III.

June 2023

Areim

Establishment of Areim DC Fund

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Andulf acted as lead fund formation counsel in connection with the establishment of Areim Fastigheter DC.

June 2023

Saminvest AB

Saminvest invests in FSG Fund II

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Andulf acted as legal advisor to the Swedish state owned company Saminvest AB in connection with its investments in FSG Fund II AB.

June 2023

Spintop Ventures

Spintop lead investor in Embedl

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Andulf acted as legal advisor for Spintop Investment Partner IV in connection with its investment into Embedl, a strategic move set to amplify its operations and further enhance the tools that are delivering the highest-performing AI models in the automotive industry.

May 2023

Trapets

Acquisition of Regtech Solutions

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Andulf acted as legal advisor for Trapets, a leading Nordic software company offering solutions to fight financial crime, in its acquisition of Regtech Solutions, a Swedish software company offering KYC and screening services solutions to comply with AML regulations.

May 2023

Creades AB (publ)

Creades invests in Kreditz

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Andulf acted as legal advisor for Creades AB (publ) in connection with its investment in Kreditz AB.

April 2023

Verdane

Verdane invests in Verified

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Andulf acted as legal advisor for Verdane in its investment in Verified, a B2B SaaS company providing AML and KYC, signing and authentication workflows.

April 2023

Norrsken

Norrsken invests in Evroc

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Andulf acted as legal advisor for NVC Fund 2 in connection with its investment in Evroc, Europe’s first secure, sovereign and sustainable hyperscale cloud.

April 2023

European Investment Fund

EIF invests in Voima Ventures Partnership III

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Andulf acted as legal advisor to the European Investment Fund (“EIF”) in connection with its investment in Voima Ventures Partnership III LP, a Finnish fund focusing on scientific deep tech ventures in the Nordics and Baltics.

March 2023

Verdane

Verdane invests in Blinto

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Andulf acted as legal advisor for Verdane in its €10.6 million investment in Blinto, a fast-growing online auction platform used for heavy machinery.

March 2023

node.vc

node.vc launches first fund

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Andulf legal advisor when node.vc launches first fund.

March 2023

Nicoya AB (publ)

Sale of shares in Kavall

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Andulf acted as legal advisor to Nicoya AB (publ) in connection with its sale of shares in Kavalleriet AB to Mathem. Kavall (now Mathem Express) services mainly consists of home delivery services with regards to groceries.

March 2023

PRI Pensionsgaranti (PRI)

PRI invests in Integrum Capital Partners

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Andulf acted as legal advisor to PRI in connection with its investments in Integrum Capital Partners.

March 2023

Saminvest AB

Saminvest invests in business angel company administrated by Blekinge Business Incubator

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Andulf acted as legal advisor to the Swedish state owned company Saminvest AB in connection with its investments in a business angel company administrated by Blekinge Business Incubator (BBI), Kick Capital I AB.

March 2023

VC Investors

Financing of Hedvig

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Andulf acted as legal advisor for existing VC investors, including CommerzVentures and Cherry Ventures, in connection with Adelis and SEBs investment into Hedvig AB, which provides a software as a service solution for the insurance industry.

February 2023

Standout Capital

Standout Capital II holds final closing at hardcap

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Andulf lead legal advisor when Standout Capital II holds final closing at hardcap.

January 2023

Verdane

Further investment into Polytech

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Andulf acted as local legal advisor for Verdane in its strategic investment together with FSN Capital of approximately €135 million in Polytech, a global market leader in rotor-blade technical solutions for wind turbines.

January 2023

Born Försäkringar

Sale of Born Försäkringar

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Andulf acted as sell-side advisor in the sale of Born Försäkringar, a property insurance broker, to Säkra.

January 2023

Monterro

Monterro small-cap fund closed at hardcap EUR 150m

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January 2023

Spintop Ventures

Spintop invests in Scrintal Labs

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Andulf acted as legal advisor for Spintop Investment Partners IV in connection with its investment in Scrintal Labs AB. The company combines visual canvases with documentation to help professionals and teams go from idea to presentable work on the same screen.

January 2023

Areim

Establishment of Areim Fund V

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Andulf acted as lead fund formation counsel in connection with the establishment of Areim Fastigheter 5.

January 2023

European Investment Fund

EIF invests in Nordic Alpha Partners Fund II

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Andulf acted as legal advisor to the European Investment Fund (“EIF”) in connection with its investment in Nordic Alpha Partners Fund II K/S, a Danish fund focusing on sustainability technology companies.

December 2022

Standout Capital

Standout invests in Business Engagement Group

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Andulf acted as legal advisor for Standout Capital in its investment in Business Engagement Group, a leading Dynamics 365 partner to Nordic enterprises.

November 2022

Monterro

Acquisition of Hub Planner

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Andulf acted as legal advisor for Monterro in its acquisition of Hub Planner, a SaaS company offering resource management services.

November 2022

Monterro

Monterro authorised AIF Manager

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Andulf acted as legal advisor to Monterro Fund Management AB in its application for authorisation as AIF Manager. The application was approved by the Swedish Financial Supervisory Authority on 28 November 2022.

November 2022

Spintop Ventures

Spintop invests in Infobaleen

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Andulf acted as legal advisor for Spintop Investment Partners IV in connection with its investment in Infobaleen AB whose platform makes large amounts of customer data easily accessible and helps companies manage their business on the right KPIs.

November 2022

Nicoya

Andulf lead legal advisor to Nicoya AB in connection with Private Placement

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Andulf acted as lead legal advisor to Nicoya AB in connection with a Private Placement. Nicoya AB is a business-accelerating investment company focusing on foodtech.

November 2022

Astorya.vc

Invest in Claims Carbon

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Andulf acted as legal advisor to Astorya.vc in connection with its investment in Claims Carbon, a net zero insurance data startup.

August 2022

Aquademica

Sale of Aquademica AB

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Andulf acted as legal advisor to sellers in connection with the sale of Aquademica to Raksystems.

July 2022

Bellman Group AB (publ)

Acquisition of Bröderna Öhman AB

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Andulf acted as legal advisor to Bellman Group AB (publ) in connection with the acquisition of Bröderna Öhman AB.

June 2022

Bellman Group AB (publ)

Acquisition of Börje Holmgrens Åkeri AB

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Andulf acted as legal advisor to Bellman Group AB (publ) in connection with the acquisition of Börje Holmgrens Åkeri AB.

June 2022

Spintop Ventures

Spintop invests in AlexisHR

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Andulf acted as legal advisor for Spintop Investment Partners III in connection with its investment in AlexisHR. Alexis’ mission is to change the way companies deal with their people administration by making it effortless, simple, and quick.

June 2022

Norrsken

Norrsken invests in 1Komma5°

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Andulf acted as legal advisor of NVC Fund 1 in connection with its investment in 1Komma5°. Aiming at answering the question: how can we help decarbonise millions of homes in Europe as fast as possible, 1Komma5 offers a solution to the bottleneck of the fragmented “last mile” installation of solar power, heat pumps, storage and charging.

May 2022

Evolver Fund I

Buy and build of multi-disciplinary technical consulting group

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Andulf acted as legal advisor to Evolver, through its controlled company XPartners Samhällsbyggnad, in connection with its purchase of Toofab.

May 2022

Norrsken

Norrsken invests in BeZero

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Andulf acted as legal advisor of NVC Fund 1 in its investment in BeZero - a ratings agency for voluntary carbon credits, setting out to become the leading source of information for carbon markets.

April 2022

Monterro

Monterro Fund 4 acquisition of Pythagoras

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Andulf acted as legal advisor for Monterro in its acquisition of Pythagoras Systems AB, a Swedish SaaS company offering an innovative cloud platform for property, real estate, and facility management.

April 2022

Cityläkarna

Sale of Cityläkarna

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Andulf acted as legal advisor to the sellers in connection with the sale of Cityläkarna to Helsa Primärvård Sverige AB.

April 2022

Veterankraft AB

Sale of Veterankraft AB

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Andulf acted as legal advisor to the sellers in connection with the sale of Veterankraft AB to Heart BidCo AB.

March 2022

Stella Capital

Stella Capital invests in Soft Goat and By Malina

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Andulf acted as legal advisor for Stella Capital in connection with its investment, via a new co-owned company, into the two Scandinavian fashion companies Soft Goat AB and By Malina AB.

February 2022

Steab Förvaltning AB

Acquisition of Axessa Solution Group AB and A S G Hosting AB

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Andulf acted as legal advisor to Steab Förvaltning AB in connection with the acquisition of Axessa Solution Group AB and A S G Hosting AB.

February 2022

Progrits AB

Acquisition of Fristad Konsult AB

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Andulf acted as legal advisor to Progrits AB in connection with the acquisition of Fristad Konsult AB.

February 2022

Spintop Ventures

Spintop invests in Acamp

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Andulf acted as legal advisor of Spintop Investment Partners III in connection with its investment in Acamp tech AB, a company founded in 2020 by Öjje Holt and Paul Berggren, which is operating a marketplace hospitality platform linking landowners and motorhome owners with the mission to make it easy for campers to explore and book great places to camp.

January 2022

Verdane

Verdane invests in Instabox

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Andulf acted as legal advisor for Verdane Capital in connection with the acquisition by Instabox of Verdane’s portfolio company Porterbuddy and the concurrent investment by Verdane into Instabox. Instabox is a European consumer-based parcel delivery service provider and the partnership with Porterbuddy will create possibilities for a greener and even more user-friendly last mile delivery for European consumers.

January 2022

Monterro

Monterro Fund 3 portfolio company Moment acquisition of Millnet

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Andulf acted as legal advisor of Monterro’s Norwegian portfolio company Moment’s acquisition of Millnet, a Swedish SaaS company providing project and resource management services.

January 2022

Verdane

Andulf lead legal advisor when Verdane launches Europe's largest growth impact fund

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January 2022

Bellman Group AB (publ)

Acquisition of Axelsson Diamanthåltagning

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Andulf acted as legal advisor to Bellman Group AB (publ) in connection with the acquisition of the business of Axelsson Diamanthåltagning.

January 2022

Spintop Ventures

Spintop invests in Univid AB

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Andulf acted as legal advisor of Spintop Investment Partner III in connection with its investment in Univid AB, a software startup developing an event management platform.

January 2022

Sound Bioventures

Sound Bioventures Fund I

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Andulf lead legal advisor when Sound Bioventures raises EUR 110 million in the first closing of its first fund.

December 2021

Nicoya AB

Andulf lead legal advisor to Nicoya AB in connection with MSEK 400 Private Placement

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Andulf acted as lead legal advisor to Nicoya AB in connection with a Private Placement under which Nicoya raised MSEK 400. Nicoya AB is a business-accelerating investment company focusing on foodtech.

December 2021

Norrsken

Norrsken invests in General Fusion

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Andulf acted as legal advisor of NVC Fund I in connection with its investment in General Fusion, which is transforming how the world is energized by developing the first commercially-viable fusion power plant.

November 2021

Monterro Fund 4

Andulf lead legal Advisor on establishment of M4 Software Investment

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October 2021

Norrsken

Norrsken invests in Grünfin

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Andulf acted as legal advisor of NVC Fund I in connection with its investment in Grünfin, which has developed an investment platform that makes it easy to invest based on values such as climate, health or equality.

September 2021

Commerz Ventures

CommerzVentures invests in Doconomy

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Andulf acted as legal advisor for CommerzVentures Beteiligungs GmbH & CO. KG in connection with its investment in Doconomy AB, a leading player in climate technology, helping banks, brands and consumers to measure, understand and reduce their environmental impact.

September 2021

Saminvest AB

Saminvest invests in Hadean II

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Andulf acted as legal advisor to the Swedish state owned company Saminvest AB in connection with its investments in Hadean II.

August 2021

MMSports

Sale of MMSports

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Andulf acted as legal advisor to sellers in connection with the sale of MMSports to CapMan. MMSports is one of the leading sports nutrition and health supplement companies in Sweden.

August 2021

Svensk Linjebesiktning

Sale of Svensk Linjebesiktning

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Andulf acted as legal advisor to sellers in connection with the sale of Svensk Linjebesiktning to the listed company Dlaboratory Sweden AB (publ). Svensk Linjebesiktning provides inspection services of electricity and telecommunication grids for grid operators.

July 2021

European Investment Fund

EIF invests in Crowberry II

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Andulf acted as legal advisor to the European Investment Fund (“EIF”) in connection with its investment in Crowberry II, an Icelandic VC fund focusing on early-stage ICT companies.

June 2021

Sentor Managed Security Services

Sale of Sentor

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Andulf acted as legal advisor to sellers in connection with the sale of Sentor to Accenture. Sentor is a Sweden-based provider of cyber defense and managed security services.

June 2021

Evolver Fund I

Buy and build of multi-disciplinary technical consulting group

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Andulf acted as legal advisor to Evolver, through its controlled company XPartners Samhällsbyggnad, in connection with its purchase of Bsv arkitekter & ingenjörer, Contekton Arkitekter Fyrstad, Hedström & Taube Projektledning and KMP Konsult.

June 2021

Saminvest AB

Saminvest invests in business angel company managed by SmiLe Incubator

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Andulf acted as legal advisor to the Swedish state owned company Saminvest AB in connection with its investments in a business angel company managed by SmiLe Incubator.

May 2021

Athanase Industrial Partner

Authorisation as AIF Manager

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Andulf acted as legal advisor to Athanase Industrial Partner AB in its application for authorisation as AIF Manager. The application was approved by the Swedish Financial Supervisory Authority on 21 May 2021.

April 2021

Ymer SC AC

Listed fund for investments in structured credits.

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Andulf continued lead legal advisor on raising of Ymer SC AC, a fund investing predominantly in the junior part of the capital structure of both cash and synthetic securitisations such as CLOs, CDOs, ABS, and reg cap trades. The fund has issued instruments listed on NGM.

March 2021

Nordtech

Establishment of Nordtech

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Andulf lead legal advisor on establishment and financing of Nordtech.

February 2021

Verdane

Establishment of Verdane Edda II

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Andulf lead legal advisor when Verdane closes Edda II fund at hard cap with EUR540m.

January 2021

European Investment Fund

EIF invests in eEquity IV

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Andulf acted as legal advisor to the European Investment Fund (“EIF”) in connection with its investment in eEquity IV under the “European Scale-up Action for Risk capital” (ESCALAR) pilot programme, backed by the Investment Plan for Europe.