CIMdata PLM Industry Summary Online Archive
2 April 2007
Financial News
PACE Secures € 3m in Growth Capital
PACE, one of the leading providers of knowledge based engineering software, announced the completion of a new financing round. The € 3 million round led by eCAPITAL has been joined by existing and new investors including the Netherlands-based Strategic European Technologies N.V. (SET) and VC Fonds Berlin. Their investment in PACE supports the company's move into new vertical markets and the expansion of its global sales operation.
PACE develops knowledge based engineering (KBE) software solutions for the aerospace and automotive industries. For customers such as Airbus, Rolls-Royce, Bombardier and Embraer, integrating product knowledge within the product lifecycle management (PLM) is a key factor of success by greatly enhancing the quality of design while considerably reducing time-to-market and overall project costs. Frank Hölzle, managing partner of lead investor eCAPITAL, endorses the strategic significance of efficiently leveraging corporate know-how: "PLM and KBE are going to be tomorrow's key technologies for unlocking an organization's product innovation and cost saving potentials. Backed up by dedicated and experienced investors, PACE can compete effectively in the global market place and adopt the leading role in the realm of knowledge based engineering."
Besides upgrading its applications for aircraft cabin configuration and performance engineering, the focus of PACE's business operations is on maximizing the success of its flagship product Pacelab Suite, an integrated software environment for multidisciplinary preliminary design. "We are very pleased to have found three strong partners in eCAPITAL, VC Fonds Berlin and SET to support us in developing unique software solutions and moving further into the global marketplace. The investment provides the financial foundation for the expansion and future success of our company," comments PACE managing partner Dr. Oliver Kranz.
About PACE
PACE, with offices in Germany and the U.S., develops knowledge-based engineering software aimed at accelerating complex engineering processes. By providing intelligent information technology, PACE helps its customers to increase their productivity and competitiveness. The company has more than 50 employees and is managed by founders Michael Kokorniak, Dr. Oliver Kranz und Alexander Schneegans.
About VC Fonds Berlin and IBB Beteiligungsgesellschaft mbH
IBB Beteiligungsgesellschaft mbH has managed the newly founded VC Fonds Berlin since November 2004. VC Fonds Berlin is the result of a joint initiative of the Investitionsbank Berlin (IBB) and the state of Berlin and is indirectly partly financed by EFRE resources. Its aim is to invest in Berlin-based technology ventures which have growth potential and which are active in Berlin's key technology fields. Since 1997 the IBB Beteiligungsgesellschaft, in consortia with partners, has placed over € 400 million at the disposal of technology firms in Berlin. Of this, € 60 million was invested by the IBB as lead, co-lead or co-investor.
About Strategic European Technologies N.V. (SET):
SET, located in 's-Hertogenbosch, The Netherlands, was founded in 1997 and is a venture capital fund financed by both institutional and private investors. SET manages a portfolio of 20 technology investments, primarily active in IT and communication industries. SET first invested in PACE in 1999. The fund is hands-on oriented and operationally involved.
About eCAPITAL:
Münster-based eCAPITAL is an entrepreneurially driven venture capital company which actively supports innovative entrepreneurs in promising business sectors. eCAPITAL focuses on fast-growing enterprises in the areas IT and communication, chemical engineering and new materials and optical technologies. eCAPITAL currently manages two funds totaling more than
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