High-end medium format digital camera business Phase One has closed an undisclosed funding round so that it can finance new product launches as well as further marketing and possible acquisitions.

The deal has been led by Silverfleet Capital, a London-headquartered firm which has active portfolio companies such as shoe retailer Office and healthcare business Aesica Pharmaceuticals.

From its base in Copenhagen, and European offices in cities including London, New York and Sydney, Phase One designs and manufactures medium format cameras alongside an additional aerial photography offering. Its most recent product launch was its IQ250 digital camera back, which it claims is the first available medium format back using a CMOS sensor.

Joining Silverfleet in the deal are the existing management team, who are forfeiting a majority stake in the business but also reinvesting their own money for a ‘substantial’ minority stake.

More on recent Silverfleet deals:

• Silverfleet buys its own administration provider for £50 million
• Return on investment for Silverfleet
• Kalle nabbed by Silverfleet

Henrik Hakonsson, current and future CEO of Phase One, says that Silverfleet’s international outlook, financial capability and track record of growing businesses make the firm an ‘ideal partner’.

Silverfleet Capital partner Gareth Whiley comments, ‘Phase One is a world-class company with unrivalled products and an excellent management team.

‘We are excited to be able to partner with Henrik and his team to further develop this highly successful business and brand.’

As part of the deal, Whiley is set to take up a position as non-executive director at Phase One. The deal for Silverfleet follows its backing of fellow Nordic company Cimbria, a manufacturer of seed and grain processing equipment, in April 2013.