Tofte & Company advises Astralis Group on their IPO

It is with great pleasure that we can announce that Astralis Group will be the world’s first publicly listed esports company now listed on Nasdaq First North Growth Market Denmark.

Astralis Group, headquartered in Copenhagen, Denmark, has through a pioneering approach to performance and by treating gamers as athletes, developed the Astralis Performance Model which is now the recognized lighthouse of the esports industry. Astralis Group’s unique focus on building ‘performance-enhanced’ teams with mainstream appeal has seen the Astralis team thrive as the best Counter-Strike team in history. The strategic performance approach is a base value throughout the organization and is also the basis for developing League of Legends team Origen and their FIFA team Future FC. All teams in Astralis Group are developed under the same performance-, branding- and business- model reaching millions of fans globally through own channels and in earned mainstream media.

Astralis Group has raised 150 MDKK in connection with the listing to be used for future growth and expansion. The offer of shares was oversubscribed by 77% of shares offered to the public.

Astralis Group is tapping into a market where the number of esports viewers around the globe is estimated to reach 443 million in 2019 and expected to reach 595 million in 2022. The team brands and media channels have a 100% borderless viewer base with endless opportunities reaching a global, growing audience within a billion-dollar market expected to grow more than 20% p.a. in the coming years.

“We have throughout the process been impressed by the professionalism and expertise with IPO processes of Tofte & Company. They have particularly impressed us with their ability to advise us on all the aspects of being a public company and running this process on an extremely tight schedule. The esport industry is relatively new and the market dynamics to large extend untouched ground but Tofte & Company helped us present our business in an easy and understandable way,” says Nikolaj Nyholm, co-CEO of Astralis Group. “We have now secured funding to pursue the huge market opportunity we have in front of us and I am delighted with the support we have received throughout the process.”

”Astralis Group has with their lead in the esports industry and extreme appeal in the local regions allowed us to sign up pre-subscribers from our investor network for a total of 57 MDKK,” says Sasja Dalgaard, Partner at Tofte & Company and Astralis Groups Certified Advisor.

I am truly grateful that Astralis Group chose us to help them in their listing process and I cannot wait to follow the company as it continues to expand into new geographies, other game categories and executes their strategies for monetizing the ever-growing viewer base,” says Jesper Knudsen, Partner at Tofte & Company.


About Astralis Group:

Astralis Group is a publicly listed esports media Company who owns and operates three globally leading team brands including all media and commercial rights.: Origen (League of Legends), Future FC (FIFA) and Astralis (Counter-Strike).

Further information at


Tofte & Company enters strategic alliance with leading US technology investment bank AGC Partners

Tofte & Company is pleased to announce that it has entered into a strategic alliance with AGC Partners (“AGC”), one of the leading global technology investment banks with an established track record in technology M&A and growth equity financing. Under this strategic alliance, Tofte & Company will be AGC’s technology investment banking partner in the Nordics and expects the combined capabilities of both firms will facilitate increasing cross border opportunities between Nordic technology growth companies and investors and strategic buyers in North America and Europe.

Benefits for Tofte & Company and its clients

Since inception in 2013, Tofte & Company has become the leading technology focused independent corporate advisory firms in the Nordics. Tofte & Company has developed a reputation as the preeminent adviser to technology growth companies in the Nordics with a partner team that have completed more than 400 transactions across private capital, capital markets advisory (eg. IPOs) and M&A. Tofte & Company believes that the strategic alliance with AGC will uniquely position Tofte & Company to provide global technology investment banking capabilities combined with leading local coverage, service and support to technology growth companies in the Nordics that are institutional size and quality.

The relationship with AGC will further enhance Tofte & Company’s access to strategic acquirers and investors in US and Europe as well as proprietary market intelligence and industry content. This is particularly relevant in the context of running sell side M&A or capital raising processes.

Thomas Tofte, Managing Partner at Tofte & Company, commented “Over the last 5 years Tofte & Company has been fortunate to advise some of the most exciting technology growth companies in the Nordics and believes that there will be an increasing universe of companies that will attract international capital and interest from especially US based strategic acquirers. We are excited to partner with AGC to extend our global full-service technology focused investment banking capabilities to clients in the Nordics.”

Ben Howe, CEO of AGC Partners, commented “AGC has built a leading global technology investment banking platform and has a consistent track record of being one of the most active deal markers in the sector. The relationship with Tofte & Company will provide AGC with a partner that has market leading coverage in the Nordic region and access to opportunities for our strategic and investor clients. The combination of our capabilities should be a compelling proposition for technology companies in the region.”

Background on AGC Partners

AGC has consistently ranked as the most active boutique bank dedicated solely to tech, having completed more than 360 M&A and growth equity transactions since inception in 2003. AGC has 50 professionals, including 20 partners, with offices in Boston (headquarters), Silicon Valley, New York, Chicago, Dallas, Los Angeles, Minneapolis, Atlanta and London. AGC has strong relationships with technology investors and over 1,000 global strategic buyers and technology investors across North America, Europe, and Asia.

AGC has experience and in-depth domain knowledge across all key technology sub-sectors including:

  • Application Software
  • Cybersecurity
  • Defence Technology
  • Digital Media / Internet
  • Energy & Industrial Tech
  • FinTech
  • Healthcare IT & Life Sciences
  • Infrastructure / Cloud
  • Internet of Things
  • Mobility Solutions
  • Semiconductors
  • Tech-Enabled Services

Tofte & Company advises Wizdom A/S on its EUR 30m sale to LiveTiles

As exclusive advisor to Wizdom A/S it is with great pleasure that we can announce that the New York headquartered global digital workplace software vendor LiveTiles Limited (ASX:LVT) has signed an agreement to acquire 100% of Wizdom A/S at an aggregate price of up to EUR 30m.


Wizdom is a leading ‘plug and play’, Microsoft-aligned digital workplace software business. Its software provides users with the tools needed to drive employee engagement, collaboration and compliance. Wizdom will enable LiveTiles to deliver new capabilities in relation to news and content publishing as part of its intelligent workplace platform.

Headquartered in Copenhagen, Denmark, Wizdom serves a high-quality customer base of 243 customers across Europe and the rest of the world. Representative customers include Nokia, Syngenta, Saxo Bank, De Beers and Anglo American.


Wizdom founders John Wainer and Claus Ole Hasle will together with the senior management team join LiveTiles to drive the continued growth of the Wizdom business and to help LiveTiles advance its position as the leading intelligent workplace platform. John and Claus bring a deep level of expertise in the Microsoft ecosystem and decades of operating experience in European markets.

The acquisition provides LiveTiles with an immediate and established regional presence in Europe, fast-tracking the Company’s expansion into the region and accelerating its already impressive growth of 272% per year.


“For a technology company like ours, we found the right partners in Thomas, Rasmus and the entire Tofte & Company team. They truly understood the DNA of Wizdom and the market we operate in and did an amazing job illuminating the true value of what we have built. Thomas´ unique experience as a deal-maker resulted in a deal with both sides as winners. We, at Wizdom, are looking very much forward to unfold the full potential of our technology together with the rest of the LiveTiles organization.” says John Wainer, CEO of Wizdom A/S.

“Thanks to Thomas and his team at Tofte & Company we have been able to secure a great deal for everyone involved. We are very excited to welcome Wizdom with their incredibly talented team led by John Wainer and Claus Ole Hasle to our LiveTiles family.” says Matthew Brown, CFO of LiveTiles


“I truly believe that Wizdom and LiveTiles together is a winning formula that will be very difficult for any competitors to match. From product, to market presence, to organizational fit the two companies are made for each other and I am very much looking forward to follow their shared journey going forward.” says Thomas Tofte, Managing Partner of Tofte & Company.


About LiveTiles:

LiveTiles is a global software company headquartered in New York, with operations in Seattle, Tri-Cities (Washington State), San Francisco, Los Angeles, Chicago, North Carolina, Rochester, London, Sligo, Amsterdam, Sydney, Melbourne, Brisbane, Geelong and Hobart. LiveTiles offers intelligent workplace software for the commercial, government and education markets, and is an award-winning Microsoft Partner. LiveTiles’ products comprise LiveTiles Intelligent Workplace, LiveTiles Design, LiveTiles Bots, LiveTiles Intelligence, LiveTiles for SAP Software, LiveTiles MX, LiveTiles Mosaic and Hyperfish. LiveTiles’ customers represent a diverse range of sectors and are spread throughout the United States, United Kingdom, Europe, the Middle East and Asia-Pacific.

About Wizdom:
Headquartered in Copenhagen, Denmark and with offices in North America, Wizdom deliveres state-of-the-art digital workplace solutions to leading organizations across Europe and the rest of the world. Wizdom´s top-rated and award-winning intranet solution offers components to build and brand a digital workplace on top of Microsoft’s SharePoint and Office 365, empowering over 300 digital workplaces around the globe.

Agillic – IPO on NASDAQ First North Copenhagen

Tofte & Company – Leading Nordic marketing automation software provider Agillic listed on NASDAQ First North Copenhagen

It is with great pleasure that we can announce that Agillic, the leading Nordic marketing automation software provider is listed on NASDAQ First North Copenhagen.

Agillic, headquartered in Copenhagen, Denmark, has developed a state of the art product for marketing departments to plan and execute their omnichannel marketing strategy. By using the Agillic platform the clients can communicate with end customers at the right time and right place with the right message resulting in an considerably increased effect of their marketing communication. The company has recently added artificial intelligence to their product offering which further enhances the value for the clients. The mission of the company is to allow their clients to communicate personally and relevant with their customers and thereby effectively kill spam.

Agillic has raised 37 MDKK in connection with the listing to be used for future growth and expansion particularly in the UK and Swedish market. The offer of shares was oversubscribed by 33% of shares offered to the public.

With a strong foothold in Scandinavia, Agillic is tapping into a 37 BNUSD worldwide marketing technology market which is expected to double over the next 5 years. The business model is based on a recurring Software as a Service subscription model with a high degree of revenue predictability.

“We have throughout the process been impressed by the professionalism of Tofte & Company. They have particularly impressed us with their business understanding. Marketing automation technology is probably not the easiest thing to understand but Tofte & Company helped us present our business in an easy and understandable way,” says Jesper Valentin, CEO of Agillic. “We have now secured funding to pursue the huge market opportunity we have in front of us and I am delighted with the support we have received throughout the process.”

“We are happy to see Tofte & Company taking their first case successfully to the market only a short time after having joined as Certified Adviser,” says Carsten Borring, Head of Listings at NASDAQ.

Agillic is an amazing company that we have been following for several years. They have the right product at the right time and the right team to make it happen which is why they are growing so aggressively. Their mission is clear and so is the value proposition towards their clients. I am truly grateful that Agillic chose us to help them in their listing process and I cannot wait to follow the company as it continues to expand into other markets,” says Thomas Tofte, Managing Partner at Tofte & Company.

About Agillic:
Agillic, headquartered in Copenhagen, is the leading marketing automation technology provider in Scandinavia. The Agillic platform offers its clients the ability to communicate to customers with personalised messages, through multiple channels, at scale, and thereby increasing the effect of marketing activities considerably. As a technological frontrunner in the industry, Agillic offers predictive models based on artificial intelligence which further enhances the effectiveness of the platform. With flagship customers such as Matas, SPORTMASTER, Banco Santander, Storytel og Egmont Publishing, the company has grown the annual recurring revenue with more than 60% year over year in 2016 and 2017 and is now ready for an European expansion.


We are happy to announce that Feast – the recent venture of Jakob Nordenhoff Jønck (former Myfitnesspal and Endomondo) – has now closed its financing round enabling Jakob to repeat his high viral growth success within the area of digital cook books. The venture is currently in stealth mode.

Realfiction recently closed its funding round securing the necessary funds to exploit the commercial opportunities gained on its unique true 3D display system. The venture is headed by Clas Dyrholm and pioneering holographic video displays.

Our story so far


Tofte & Company was established to provide a professional and experienced service for IT companies looking for financing or buyers. We wanted to provide an efficient 360° service from initial lead contact to money in the bank.

With experience of more than 330 transactions with IT companies, 11 years as investor/buyer and an extensive network within the business angel and VC community, we seem to have found the right cocktail of operational, financial and legal expertise. We are now growing at a rapid rate.

We are proud and humble to be working with some of the best entrepreneurs and founders, and we are working hard to deliver on the trust given to us.

We are also honoured by all the investors showing an interest in the cases we bring to the market and hope that you will earn a lot of money investing into our mandates.



Total Amount Raised Approximately $80 million
Total Amount of Clients 15 so far, full list available here


Tofte & Company has advised Tradeshift on a capital injection of $75 million to expand into Asia. The investment from Scentan Ventures gives Tradeshift a key partnership in the region. For potential opportunities on secondaries, please contact us. Read the full article here.

With Tofte & Company as advisors, CapitalAid completed its initial funding round raising over €2 million. The company, described as a ‘$3 billion factoring business’, has a partnership with Tradeshift to work with the electronic invoicing platform. Read the full article here.

AirHelp, who were part of the winter contingent of Y Combinator, recently took part in the famous demo day. With a strong media following, AirHelp’s business has consistently been ranked as one of the top 5 Y Combinator companies. Read the TechCrunch coverage here.

The following is a list of clients who are currently seeking investments and have their investor materials online;


AirHelp is helping consumers who have been on the receiving end of delayed or cancelled flights to fight for their compensation. Also a graduate of the Y Combinator 2014 winter class.
itembase is creating an even playing field by automatically extracting information from consumer purchases and aggregating the data. This benefits the web shops signed up, enabling them to compete against business models of giants like Amazon.
The Search Party is changing the face of recruitment. They have taken the recruitment process on-line as a market place and created a time-efficient and cost-efficient recruitment process, benefitting both employers and recruiters. With offices in London and Sydney, they are expanding fast.
Capital Aid is a new innovative provider of capital to small and medium-size businesses trading on electronic invoicing networks. Why should you have to wait to get paid for an invoice? Capital Aid has secured the right to offer financial services for a GBP 40 billion spend of invoices.
OpenXO is a one-stop solution giving networking power to your brand, business or location. Engage over Wi-Fi to receive deep knowledge about your audience, develop relations, drive sales, and enjoy brand exposure and endorsement.