CapMan makes €21.7m profit for 2001

CapMan, the Finnish venture capital firm, one of the few venture capital firms to make a profit in 2001, earning a net profit of €21.7m ($18.9m), compared with a profit of €20.1m for 2000, although it has suffered from lack of exit opportunities.

The profit was mainly attributable to the sale of shares in Sampo, which made CapMan a capital gain of €18m. However, CapMan's turnover fell 60% from €33.4m in 2000 to €13.1m for 2001, due to a sharp fall in carried interest.

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