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Abiquo closes €1.5M Series A funding and appoints Pete Malcolm as CEO

Barcelona, Spain – February 17, 2010 – Abiquo, Nauta Capital (Nauta) and Caja Navarra (CAN) announced today that Abiquo, a leading developer of infrastructure management software for Cloud computing environments, closed a first round of institutional funding totaling €1.5M. This first round of funding was led by Nauta with a €1 million investment, the first from its Nauta III fund. CAN, which had previously provided loan funding in January 2008, has contributed to the round with a total amount of €441,000, €241,000 of new capital and €200,000 converting the loan turned into equity. Finally, Pete Malcolm, who has joined the company as the Chief Executive Officer, has invested €100,000 in the company.

This round of funding will enable Abiquo to intensify the commercial effort for its solution at both national and international levels, as well as the company’s management team effort. Abiquo markets a platform that focuses on the development lab, hosting and enterprise sectors, providing significant cost advantages and speeding up process management.

Pete Malcolm has joined the Abiquo management team as CEO. A twenty five year veteran of the software industry, Malcolm has founded, managed and sold several software companies, each operating internationally and leading its market sector. They include Orchestria Corporation, the leader in Data Loss Prevention solutions which was acquired by multinational CA, Inc. in 2009. Malcolm was previously Senior Vice President of Business Management with CA, and served as Benchmark Capital’s first European entrepreneur in residence.

“I am delighted to join a company with such strong technology in the Cloud computing field”, said Malcolm, “Abiquo has developed a truly comprehensive and powerful Cloud management platform, and has the potential to become a global player in this large and fast growing market sector.”

Abiquo’s founder and VP Community Solutions, Diego Mariño said: “We are delighted to have closed this funding round with Nauta, CAN and Pete Malcolm. We are also delighted to have appointed an internationally renowned entrepreneur as Abiquo’s CEO. These events are a clear indication of the company’s market leading potential.”

About Abiquo
Abiquo is a leading developer of Cloud management solutions founded in 2006. Abiquo envisions a future where private and public Clouds are fully interoperable and vendor neutral. The company embraces an open-source model where both community users and commercial organizations can fully benefit from the Cloud revolution. For more information, visit www.abiquo.com.

About Nauta Capital
Nauta Capital manages three Venture Capital entities, Nauta Tech Invest I, Nauta Tech Invest II and Nauta Tech Invest III with a total of €165 million under management. Nauta is the only Spanish investor in venture capital that has offices in Spain (Barcelona) and the US (Boston). The company invests between €0.5M and €7M in companies in the Technology and Telecommunications sectors. Nauta’s target companies for investment are in their very early stage of development (Seed Capital) and until more advanced stages of development (series A and series B financing rounds). Nauta actively invests in Western Europe and the US. The management team is composed of 7 partners: Xavier Rubió, Dominic Endicott, Carles Ferrer, Marcel Rafart, Daniel Sanchez, Hamilton Sekino and Jordi Viñas. www.nautacapital.com

About Caja Navarra
The area of Capital Semilla de Corporación Caja Navarra is growing the Eurecan investment portfolio, its support platform for entrepreneurs. In its new phase, Eurecan invests high growth potential sectors within the technology, biotechnology and cleantech industries. Eurecan currently manages 34 companies with direct investment in equity and 55 with investment under participation loans, with an invested amount of €45 million. In the last two months, six companies –such as Abiquo- have seen their participation loans turned into equity.

The next step for Eurecan development involves the creation of specialized venture capital funds. The first one to be launched will target investments in technology. www.cajanavarra.es/es/empresas/