July 17, 2019
In July 2019, Proventus Capital Partners IV provided a commitment for a six-year senior secured USD 60 million loan to Ovzon AB (publ), a company headquartered in Sweden offering revolutionary mobile broadband service via satellite combining high bandwidth with highly mobile terminals. The financing provided by Proventus Capital Partners will part fund the construction and launch of Ovzon’s first own satellite Ovzon 3.
This first satellite, manufactured for Ovzon by Space Solutions, part of Maxar, features multiple high-performance steerable beams to meet challenging communication requirements. In addition, the proprietary On-Board Processor developed by Ovzon enables new functionality such as single hop communication between very small terminals, reduced latency and more efficient use of the bandwidth.
We appreciate the depth of Ovzon’s technology offering and we consider them to be in a favourable position to deliver on their long-term vision in the coming years, including the launch of its first own satellite. Our ambition is to be a long-term financial partner to Ovzon and support its continued development and growth.