Law firm Stephenson Harwood LLP has advised Verium AG (Verium) on the establishment of its first continuation vehicle with aggregate commitments of CHF120 million to support the development of Toradex Group (Toradex) and Mobil in Time Group (MiT). Toradex is a Swiss specialist embedded hardware and software company. MiT focuses on providing mobile energy solutions to its clients.

The continuation vehicle will allow Verium to further develop Toradex and MiT's growth with the provision of follow-on capital, and gives existing investors a liquidity opportunity. Verium CV was capitalised by a group of experienced secondary investors led by Headway Capital. Kline Hill Partners acted as co-lead on the transaction and UBS Asset Management was a syndicate investor in the vehicle.

Verium is an independent multi-family office based in Zurich. Since its inception in 2011, it has offered its clients a wide range of services specifically geared towards families with an entrepreneurial mindset, including direct investments in medium sized companies, real estate development projects and holistic wealth management services.

The team was led by private equity partners Gabriel Boghossian and Sarah de Ste Croix, who were supported by associates Bethany Carr, Rajiv Kakkad and Amir Kursun.