A Danish-American private investment firm based in Texas, but with a recently opened office at the Global Water Center in Milwaukee, is raising $50 million for an investment fund dedicated to early-stage water technology and agribusiness companies.
Cimbria Capital in March opened a satellite office inside the 98,000-square-foot Global Water Center at 247 W. Freshwater Way, where more than 45 tenant organizations work in water-centric research and innovations. The company said it opened an office in Milwaukee for investment opportunities in Wisconsin’s water business.
Between eight and 10 investment deals, ranging between $5 million and $10 million, will be made through the fund, said Brian Iversen, founder and managing partner of Cimbria Capital. Iversen works from the company’s headquarters in Houston. Noah Sabich, managing director of Cimbria Capital, works out of the Global Water Center in Milwaukee.
Iversen expects 75 percent of the deals to be made in North America, with the remaining 25 percent to be made with companies in Scandinavia. Iversen, who is from Scandinavia, said the deals within the northern European region will be with companies that can take their business into North America.
Cimbria Consulting, an independently managed affiliate company of Cimbria Capital, recently announced a partnership with a Danish engineered solutions firm.
During the past three years, Cimbria has developed two stand-alone investment deals in water and agriculture by managing capital from 40 investors that contribute an average of $300,000. Through those investors, Cimbria Capital has invested in AMI Global, a Nevada-based company focusing on industrial internet of things applications for water and agriculture, and VRC Technologies, a Texas-based chemicals provider servicing the agricultural and oilfield markets, Sabich said.
None of those investors are investing into this newly launched fund, Iversen said.