Investment Highlights



Chairman and investor

2021 - Present

In line with our long term focus on creating increased transparency in supply chain, we were fortunate to help establish this Company together with DNV and founder management. There is a growing need globally for accountability, transparency and trust throughout supply chains. Regulators are initiating requirements for reasonable assurance and due diligence by third parties for sustainability data, so companies need to adopt practices similar to accounting practices for finance data. To increase transparency and drive behavioural changes like circularity, regulators are initiating product centric approaches like the Digital Product Passport. Complying with all this comes with a cost which will be prohibitive for many companies and it is a shared problem throughout the supply chains. ComplAi takes a novel approach in that we allow everybody to benefit from more efficient collaboration, to allow for seamless independent assessment and re-use of claims and evidence across overlapping standards and stakeholders on a continuous basis. And we are asset centric from day one, meaning that the results from all the activities in ComplAi is instantly available for Digital Product Passports (DPP, check European legislation). Our approach helps not only to reduce the cost for individual companies, but also to share the cost up and down the supply chains where all benefit from a more efficient process. Our management team, employees and investors have a unique combination of experience, credibility, tech insight and ability to execute In May 2023 the Company closed the A founding round taking in Aker Runway and a selected group of individual investors. Aker will post closing hold close to 20% of the capital Vestland Invest is a corner stone investor in this Company with just over 20% of outstanding capital per date.



Chairman Of The Board / Investor

2020 - Present

PragmatIC is a world leader in ultra low cost flexible electronics, enabling the potential for trillions of “smart objects” that can sense and communicate with their environment. Our unique technology platform delivers flexible integrated circuits (FlexICs) thinner than a human hair that can easily be embedded into everyday objects. Our compact FlexLogIC™ fab-in-a-box system enables fast, cost-effective and scalable distributed production.



Non executive Director & Investor

2020 - Present

We simplify HR and payroll administration, and empower you with useful information so that you can invest more in people. We are a leading service provider of Human Capital Management (HCM) solutions. Across Europe, we serve more than 1.5 million employees monthly and our consultants have more than 20 years of experience in transforming HR with our clients.We simplify HR and payroll administration, and empower you with useful information so that you can invest more in people. We are a leading service provider of Human Capital Management (HCM) solutions. Across Europe, we serve more than 1.5 million employees monthly and our consultants have more than 20 years of experience in transforming HR with our clients.


CMR Surgical

Investor (and previously Chairman)

2016 - Present

CMR Surgical Ltd is a private company developing the next-generation universal robotic system for minimal access surgery. Since inception in 2014/15 the Company has evolved to employ close to 600+ top technology experts - and continue to grow at max speed. The group has applied for more well over 1000 patents. Our vision is to make minimal access (or keyhole) surgery universally accessible and affordable by significantly expanding the range of procedures that can be performed. Global annual revenues for robot-assisted minimal access surgery are presently approximately $4 billion and are anticipated to reach $20 billion by 2025 ('Industry Forecast, Accuray Research'). CMR Surgical has grown rapidly since incorporation in 2014/15 and has its headquarters in Cambridge, United Kingdom. The company achieved the registration of its Quality Management System to ISO 13485:2003 by Underwriters Laboratories LLC® (‘UL’) and the status as a UL Registered Firm in September 2015. The Company raised USD 100 mill. in a private placing with a strong cohort of international investors in June 2018. This was the largest medtech placing in Europe in 2018. In 2019 we launched our system Versius in the market place and raised GBP 215 mill in new equity at pre money valuation of GBP 1 bill. becoming member of the Unicorn club. (gbp 1 bill valuation in 5 years since inception!). Following 3,5 intensive years I am very happy and proud to leave CMR Surgical in top shape with with significant funds in the bank, our first commercial customers established, significant partnerships established (ex GE Health) - and a very experienced management team in place headed by our new CEO Per Vegard. Great thanks also to Martin Frost with whom I had the privilege to work for more than 3 years! I remain a faithful shareholders for the long term! Vestland will remain one of the largest private investors in the Company for the forseable future.


Seram Coatings

Investor (previously Board director)

2016 - Present

Seram Coatings´ product ThermaSiC enables SiC (Silicon Carbide) to be applied as a coating by thermal spraying for the first time. ThermaSiC provides superior coating performance in corrosive and abrasive environments as well as at high temperatures (up to 1500° C in air and 2400° C in inert atmosphere). As SiC is one of the worlds hardest synthetic materials (only exceeded by diamond, cubic boron nitride and boron carbide) and possesses lower density than competing solutions such as WC (tungsten carbide), ThermaSiC gives your products a longer lifetime, lower maintenance costs as well as giving you a competitive advantage


Papirfly Group

Chairman & investor

2015 - Present

Papirfly Group is a leading marketing software Company within brand management. We currently serve a number of tier 1 Companies in Scandinavia, Europe and the US with a broad platform of Brand related services. Having been a cloud platform since day one, our MRM (Marketing Resource Management) solution and Employee brand management platform (BAM) help our customers manage their brands and marketing campaigns with speed, control and cost-efficiency. We have more than 1 million unique daily users on our platform Global brands like Goldman Sachs, Unilever, IBM, CircleK, Daimler, BMW and DNV are among our more than 650 customers. In April 2022 we closed a transaction whereby Verdane Private Equity acquired 80% of our equity in a structured transaction, setting a new narrative to create a global leader in the brand management space. The management and my investment vehicle Vestland reinvested with Verdane. We are all proud and energised by Verdane’s trust in our platform and ability to take the venture to the next stage. In June 2023 we acquired KeePeek SA, a highly respected provider of DAM services in the french market. With this we further strengthened our European position to deliver sophisticated software solutions within Brand management to global and European Companies across the European market.



Chairman & Investor

2013 - Present

Kezzler's Consumer Verification and Track & Trace enterprise software solutions delivered through the cloud, assist brand owners in protecting their brand, trademark and business reputation as well as with regulatory compliance. Kezzler continues to remain a pioneering company in the formation and development of serialization and secure track and trace, the next generation supply chain. Kezzler has a great number of "firsts" and also has had the privilege of advising various organizations and bodies on a range of topics that now have been transformed into standards and best practices within the industry. Kezzler developed the underlying theory of a secure supply chain by individual serialization and hierarchical track and trace. Kezzler AS is a privately owned company founded in 2001 with its headquarters in Oslo, Norway.


Data Respons

Previous Chairman & Investor

2012 - 2020 (8 years)

Data Respons has been a leader in driving technology advancements for over two decades. Specializing in the Embedded Solutions market, they offer a wide range of standard embedded computer products, engineering services, and project management solutions. Following 8 years as Chairman of listed group (OSE) Datarespons, we sold the Company to AKKA group end 2019 for close to 3,7 bill. NOK in a cash transaction. The share price was up more than 10x from the time I joined the Board. Data Respons AS is part of the listed AKKA group and one of Europe's leading companies within the Embedded Solutions market. The concept of combining a comprehensive selection of standard embedded computer products with extensive experience in engineering and project management services and operating within important vertical markets. All three segments – Products, Services and Solutions – are equally focused upon to ensure that Data Respons has several strong legs to stand on and to keep our competitive edge in each area.



Director & Investor

2010 - 2023 (13 years)

Resoptima is an independent technology company delivering software solutions and consultancy services to the upstream oil and gas industry. We help oil and gas companies generate reliable reservoir models in time to support business critical decisions. Our solutions allow the users to improve their understanding of the subsurface uncertainty, and use this knowledge to make robust investment and operational decisions. The company was founded early in 2010 and is experiencing rapid growth as a result of its hands-on approach and innovative solutions to industry technical and business challenges. Resoptima solutions are being used by oil and gas companies in all the major oil regions in the world. We invest heavily in research and development (R&D) to continuously develop new products, and work in close collaboration with our clients to efficiently address the challenges they encounter in their subsurface modelling projects. Vestland Invest was a cornerstone investor in this Company In June 2023 the shareholders of Resoptima concluded a final agreement with Halliburton/Landmark , whereby they acquired 100% of outstanding share capital. Resoptima will be a cornerstone in the future strategy of Haliburton's subsurface modeling, and as Board and investor Vestland is very pleased that this transaction represent an optimal outcome for all constituents in Resoptima. Vestland has held the investment for just over 10 years - in line with our strategy. The financial return on the investment has been very solid with more than 15x return on invested capital before received dividends.


Camo Analytics

Chairman of the Board and Investor

2010 - 2020 (10 years)

CAMO Analytics modeling, prediction and optimization solutions are the preferred choice for over 25,000 data analysts worldwide across a wide range of industries. CAMO's flagship simulation and prediction software product is The Unscrambler® X, which is recognized for its ease of use, exceptional data visualization and advanced multivariate methods. CAMO also offer a range of software products which can be integrated directly into scientific instruments, process monitoring solutions, as well as optimization software.


StormGeo Group

Chairman & Investor

2007 - 2018 (11 years)

Global Company focusing on risk response analysis for weather exposed industrial operations. Acquired 43% of equity in StormWeather Centre in 2007, designed and implemented an international strategy focusing on taking the core of the Company from "weather centric" to "asset centric" by combining world class weather research with unique user data generated by each individual asset. Since launch of strategy in 2008, the Company has expanded from 2 offices in Norway to 25 offices in 17 Countries. Revenue has increased more than 15 times - through a combination of strong organic growth - as well as some few targeted acquisitions. EBIT is up 15x in the same period. As part of the growth drive we saw the need for new ownership and access to capital. Through partnership with initially Reiten & Co (sold 2014) - and thereafter DNVGL and lastly EQT Private Equity we have secured a strong partnership culture that will help leverage the Company into next phase. The initial valuation increased 20x before final exit late autumn 2017.


GeoKnowledge AS

Director & shareholder (33%)

2005 – 2012 (7 years)

Leading software Company in risk management within oil industry. Strong market position worldwide. We sold the Company to Schlumberger (SLB) end 2012. Profit multiplied more than 10x during ownership. Compounded return of more than 20x investment. Stepped out of BoD as part of transaction.


Viken Fibernett AS (Altibox)

Chairman and co-founder

2005 – 2009 (4 years)

Co-founded the Company and served as Chairman from inception in 2005. From 0 to investments of MNOK 450 in 4 years, while deploying more than 25,000 active households in and around Oslo area and the Fredrikstad area. Strong position in building fibreoptic networks and delivering triple play (TV, Internet, Phone etc). The Company was funded by a mix of Debt (IBM), public bonds and equity raised in Norway. Sold the Company to Lyse Energy in spring 2009. At the time of sale Viken Fiber had established a significant position in Fiber infrastructure as well as built a large customer base in Eastern part of Norway (Oslo + Østfold).



Chairman & Investor (32%)

2005 - 2014 (9 years)

Corporate strategy and New media Consultancy. Vestland acted as co-founder in 2005 and developed the Company into a leading position in Norway within digital media knowledge. The Company was partly sold to Danish Aller Group in 2014 - at attractive valuation, the remaining holding was divested in 2016 to Aller as well. Key operational partners will continue cooperation for years to come. All parties are very happy :-) VI retain a small holding in mutual business idea and also serve on the BOD of this entity.



Chairman & Investor

2005 - 2008 (3 years)

Mobile service provider, helped build the Company by aquiring lesser Mobile Companies as well as focusing on organic growth. Sold the company to Telenor in 2008 with good profit for all parties. The transaction needed approval from competition authorities in Norway. Hired management in 2006 still in place. Talkmore has seen strong growth in the ownership of Telenor.


Verra Mobility

Investor & Advisor

2003 - 2020 (17 years)

Verra Mobility is a leading company that provides smart transportation solutions and services. With a focus on mobility technology, tolling, and red-light enforcement, Verra Mobility helps improve traffic management and safety for communities worldwide. Their innovative approach and advanced systems make them a trusted partner in the transportation industry. Due to increasing international travel by car and the high number of cross border traffic violations committed by foreign registered vehicles or by vehicles registered outside the country where the violation took place, Euro Parking Collection plc (‘EPC’) has been authorised by various Issuing (governmental) Organisations throughout Europe to act on their behalf in administering the issuing of various penalty notices. The Company operates in most European countries and serve customers in 26 languages The Company has been acquired by American Traffic Solution Inc (ATS) - a Platinum Equity Company (LA, USA) in a friendly transaction were existing shareholders will remain part of the combined group. The parties have agreed not to disclose transaction details This holding has been a core holding for Vestland Invest since 2003 and we look forward to continued success in a combined global group.


Payex Group

Chairman and co-founder (25%)

2000 – 2008 (8 years)

Was originally founded as eSolutions Group. Nordic significant player in field of technology driven financial services. AAA rated. Co-founded large part of the current group in 2000 with Raymond Klavestad and Lars Krosby. Was voted no 1 payment provider in Nordic area and won competition to be preferred supplier of payment services to all media companies in Norway and Sweden. Sold the Company to partners (Max Hansson) in 2009 at very good profit (numbers not disclosed). The Company was sold on to Swedbank in 2017.



Director & Seed Investor (9%)

1992 - 2008 (16 years)

Part of founding group of "New Hitec Vision". Following sale of HV Drilling to National Oilwell helped engineer buyout of rest Hitec, merged with Cybernetix and re-emerged as Hitec Industries and Hitec Vision. Sold respectively HV Ind in 2007 and HV Private Equity in 2008/2009. Joined again as Director in 2017 and made new investment.


Delphi Economics (Delphi Fund management)

Co-Founder & Investor (25%)

1984/5 – 1989 (5 years)

Head of research and business development. Developed the Company into a well-known brand within financial technology platforms and knowledge of Nordic financial markets.