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DN Capital announces investment into smartphone solutions provider Apsmart




DN Capital announces investment into smartphone solutions provider Apsmart



01 Dec 2009
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DN Capital announces investment into smartphone solutions provider Apsmart

London, 1 December 2009 – DN Capital, a leading media and technology early stage and growth capital investor, today announced its investment into Apsmart. The company provides solutions for the rapidly and continuously expanding smartphone market.

Apsmart is a professional service and solution provider for high-end smartphone platforms and develops best-of-breed applications for organisations seeking to execute innovative products on mobile devices. Apsmart also crafts its own concepts and creates business and consumer applications for this increasingly important digital channel, targeting iPhone, Android, RIM and other devices.

DN Capital has a longstanding relationship with Rahul Powar, Founder and CEO at Apsmart, and has worked closely with him to establish the business and to finance his growth plans. As one of the lead developers at music discovery engine Shazam, Rahul was involved in Shazam’s smartphone applications from an early stage. DN Capital is an active investor in the mobile application space, and to date has invested in Shazam and other mobile phone application vendors such as Digital Chocolate, the leading publisher of original, high-quality Omni games, and More Magic, a company that allows operators, content providers and banks to offer consumers the ability to purchase goods and services on demand using a mobile phone or the web.

Nenad Marovac, Founding Partner at DN Capital, commented:
“Apsmart represents a tremendous market opportunity and the company already has numerous customers as well as an exciting pipeline for future growth. The investment reflects our belief in the mobile application space and we are pleased to have helped to establish Apsmart together with Rahul.”

Rahul Powar, Founder and CEO at Apsmart, commented:
“The DN Capital team understands the smartphone solution market and together we have created Apsmart to exploit the opportunities we see for service delivery and application development. We look forward to working with the team to support our growth and expansion strategy.”

For further information, please contact:

Rahul Powar, +44 (0)20 7559 3466, rahul@apsmart.co.uk

Christina Chen, +44 (0)20 7340 1600, christina@demianortega.com/dncapital.

About DN Capital

DN Capital is a media and technology growth capital and early stage investor with offices in London and Palo Alto. DN Capital’s objective is to identify, invest in and actively support media and technology companies with the potential to be global leaders. Portfolio companies include Shazam Entertainment, Endeca Technologies, Datanomic, OLX, Digital Chocolate and Tbricks.

The professionals at DN Capital bring over 50 years of private equity experience to their investments, and actively work with portfolio companies to steward their growth through the various stages of development. Additional information about the firm and its portfolio companies can be found on its web site, www.demianortega.com/dncapital.

Copyright 2009 DN Capital (UK) LLP
© Copyright 2013 DN Capital. DN Capital is authorised and regulated by the Financial Conduct Authority.