When we began our journey in 2002, our mission was to establish a company that would foster innovation and business growth, by supporting oil service companies in bringing new technologies to market.
Following a number of years working for BP as one of their top executives, our Managing Partner, Helge Tveit, fell in love with the idea of establishing a venture capital fund. Aged just 35 and armed with an MBA from the University of Chicago, and a wealth of oil and gas industry experience, he approached former Smedvig CEO, Ole Melberg with his big idea. The pair went into business and so Energy Ventures (as it was known then) was born in 2002.
Helge and Ole grew the firm with investment from Argentum, the Norwegian state private equity fund, and brought Einar Gamman into the team. With significant experience at senior executive level, Einar’s appointment cemented the management team, and they quickly exceeded their target of raising capital of NOK 1billion.
In 2014, Energy Ventures merged with Norway-based Progressus Management as part of a repositioning to shift the firm’s focus from early stage ventures to growth companies. This change to our investment strategy enabled us to provide capital and competence for growth initiatives such as buy-outs, succession planning and buy and build cases.
The merger was followed by a rebranding in 2017, which saw Energy Ventures become the EV Private Equity you know today.
Our ability to spot the potential of new technology, and take risks on it, has been a key driver in our international success. As the energy sector increasingly embraces cost-cutting, efficiency-improving innovations, this focus has also helped us to weather financial storms and emerge stronger than ever.
EV’s culture reflects that of our Norwegian home. We work closely with our colleagues internationally in a spirit of collaboration, equality and transparency. Our flat organisational structure encourages authenticity and accountability – we value the skills and the opinions of every member of EV staff.
EV embodies the values of integrity, inclusion, imagination and intelligence – these inform who we are and what we do.