LEX advises VEX on investment in Kóði

LEX provided legal advice to the private equity fund VEX in its investment in the software company Kóði.

VEX will become the largest shareholder in Kóði following the transaction while the sellers, which are the company‘s founders, will continue to own a stake and be involved in the company‘s operations.

Kóði was founded in 2009 and employs around thirty people. The company offers a variety of financial technology solutions as well as collecting, analysing and distributing market data. Kóði owns and operates, among other things, the securites trading system KODIAK OMS, KODIAK Excel, the offering system IPO, Hluthafaskrá and Keldan, which is visited by 120 thousand users monthly. The company has over twenty products and more than 600 companies use Kóði‘s products and services. The company‘s estimated turnover for the current year is around ISK one billion and around 85% of revenue is subscription revenue.

VEX specialises in investments in unlisted companies and operates two private equity funds. VEX‘s investments are long-term and the fund operates closely with managers to build companies. VEX‘s other investments include AGR, Annata, Icelandic Provision, Kaptio, OK, Varist and Öryggismiðstöðin.

The LEX team was led by Stefán Orri Ólafsson and Kristinn Ingi Jónsson.