Skagerak Capital is thrilled to announce the successful exit of VesselMan, a leading maritime software provider, through its acquisition by Marcura. This milestone marks Skagerak Capital’s fourth exit in 2024, underscoring our commitment to nurturing innovative climate tech and AI companies within B2B SaaS and delivering impactful results that drive sustainable growth.
The global venture capital market faced significant headwinds in 2024, with deal activity declining by 19% year-over-year, according to CB Insights. In Europe, early-stage funding saw a sharp drop, with just over 4,000 deals under $15 million—the lowest since 2015, as reported by Sifted.eu. Meanwhile, sectors like AI and climate tech demonstrated resilience, with AI startups securing a record 37% of global venture funding in 2024.
Signs of recovery emerged in Q4 2024, with global venture funding increasing by 8% quarter-over-quarter, signaling growing investor confidence. In Europe, deal activity also picked up in late 2024, creating a promising outlook for 2025. The venture capital landscape increasingly favors cash-positive and operationally sound companies, aligning with Skagerak Capital’s strategic focus as an early-stage growth investor. Our investment philosophy prioritizes vertical SaaS companies that provide scalable, tailored solutions to critical market needs, particularly in AI and climate tech, which are poised to deliver transformative impacts for a more sustainable future.
Amidst the challenging market dynamics, Skagerak Capital achieved four successful exits in 2024, a testament to our ability to build and scale resilient companies. Three of these exits were private equity or venture capital-backed, further validating the strength of our investment approach.
"Good companies remain attractive even in challenging markets," said André Edvardsen, Managing Partner at Skagerak Capital. "This year’s successes validate our strategy of prioritizing companies in AI, climate tech, and vertical SaaS. By providing strategic support and fostering innovation, we continue to deliver strong outcomes, even in turbulent times."
In partnership with Møkster and Grieg as co-investors, Skagerak Capital played a vital role in scaling VesselMan’s operations, enhancing product innovation, and expanding its market presence. This collaboration sets a benchmark for aligned investments accelerating both innovation and adoption across industries.
"Having Skagerak Capital as our lead investor has been transformative for VesselMan," said Stig Linna. "Their strategic support, along with the collaboration of Møkster and Grieg, has been instrumental to our growth, helping us overcome challenges and drive the digitization of technical projects in the maritime industry. We’re deeply grateful for their dedication and belief in our vision. As a founder, their guidance during negotiations and in navigating other financial players has been invaluable—they’ve been a truly trustworthy partner throughout the journey."
About VesselMan
A pioneer in maritime digital transformation, VesselMan provides a cutting-edge, cloud-based platform for managing technical projects such as dry-dockings, inspections, and refits. By standardizing workflows across fleets, VesselMan drives transparency, collaboration, and efficiency, becoming a trusted partner for shipowners and operators globally.