A Message from Ole Melberg – April 2014
As we close the first quarter of 2014, there has been a lot of activity in and around Energy Ventures.
We proudly announced the sale of Cubility at the start of April, marking our sixteenth exit since inception. Alongside this proud milestone, we completed a new investment in Fund IV in Dynamic Well Services (DWC) bringing the total number of portfolio companies in the fund to ten. Co-investing alongside Epi-V, the transaction will aid the commercialization of the company’s innovative desanding technology in addition to supporting plans for global expansion.
On top of the success on our portfolio landscape, the Energy Ventures team is evolving and growing. Our Aberdeen reception was held in March and was extremely well attended, attracting in excess of 250 high-caliber industry professionals and influencers. During the week’s strategy meeting, I formally passed the torch of Managing Partner over to Kjell Jacobsen and Helge Tveit. I have worked alongside both Kjell and Helge for many years and am confident in their ability to continue steering Energy Ventures in a positive direction. I will remain as Executive Chairman, but leave the daily leadership duties in the hands of my trusted colleagues.
Additionally, we recently added two members to our team. Matt Anstead joins us as our newest investment manager in our Aberdeen office following 8 years with Simmons & Company. Karem Kobayashi joins us from BG Group and is the newest associate in Aberdeen. We look forward the both Matt and Karem’s contributions.
Energy Ventures’ global presence has been enhanced this quarter as we welcome additional members to our Technology Advisory Board and Operating Partner networks. Paul Ching (former Royal Dutch Shell) and Richard Spears (Spears & Associates) have joined our technology advisory board and will actively keep abreast of industry trends that will guide our future investment decisions.
Furthermore, Saad Bargach (former Lime Rock Partners) and Desmond Kong (former Halliburton) will now represent Energy Ventures in our geographically-focused operating partner network. They will be instrumental in advising Energy Ventures on new investment opportunities and supporting our portfolio companies. Desmond will assist with our presence in China and the Far East while Saad will aid our Middle East operations.
As you can see there have been a number of exciting developments within Energy Ventures and our portfolio this quarter, and so far 2014 is off to a fantastic start. We expect to maintain this momentum and look forward to sharing more successes with you in the coming months.