Daniel Frydenlund’s first opportunity to work in turnaround situations began in 1999. The opportunity arose while working for a Centennial Ventures portfolio company as CFO of European Operations in the Hague, Netherlands. At this point, Frydenlund was approached by another Denver based private equity fund, The Sturm Group, to start the turnaround process of Hostmark Ltd.
Hostmark Ltd, a wholly owned Sturm Group portfolio company, a managed services data center operator in England and Central Europe. It had over $60 million invested and was out of capital burning $7 million per month. Frydenlund led the turnaround and sale to WorldPort Communications based in Dublin. Hostmark Ltd was one of 17 investments made by the Sturm Group.
After successfully completing the sale of Hostmark Ltd, Frydenlund was asked by Denver based billionaire Donald Sturm, Chairman of the Sturm Group, to become Managing Director of the $500m fund. Frydenlund continued on and completed many restructurings and exits for the firm. Companies such as Teamshare, Kaptech, Hostmark, Briterion, Firstworld, Network Photonics, Mercator Fund, Cirpack, Netbricks were actively managed and exited under Frydenlund’s leadership during a demanding time in the economy.
In 2004, Frydenlund joined the Gores Group in London. He became SVP of Finance and a board member of Real Software, one of their largest investments at that point. Real Software was a publicly traded IT Services company based in Antwerp, Belgium with annual revenues exceeding $120 million and over 2,000 employees. Daniel was a part of the strategic five member team from the London office that led the turnaround. The Gores Group successfully exited Real Software in 2008.
Frydenlund purchased Skyetek, Inc., in 2009 and immediately formed a firm which is now widely known as Stage Fund based out of Denver, CO but also with offices in New York. Skyetek Inc., an RFID software and hardware company, was a struggling business that had over $20m invested over a period of five years. Frydenlund successfully exited Skyetek in late 2015 to a public company. This acquisition was a perfect platform to launch his firm. Stage Fund’s sole purpose and vision is to acquire, restructure, sustainably operate, and sell businesses.