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Creandum supports Jays
Swedish Venture capital firm Creandum has backed Jays, a designer and manufacturer of music accessories, with a double-digit million investment.
Creandum funded the Swedish start-up, with its product portfolio of earphones, headset adapters and other products for mobile phones and mp3 players, to advance the company’s international expansion plans.
Martin Hauge, Creandum partner, said: “We were impressed with Jays’ stylish and innovative product lines. They ticked all the boxes.” Over the next five to seven years, the music accessories company aims to increase its revenue to SEK1 billion (£76 million).
Creandum received legal advice from Hamilton, which was appointed because of its long-standing relationship with the company. “We performed legal due diligence and produced formal documentation relating to the share-subscription agreement and shareholders agreement,” partner Thomas Nygren said.
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