Magne is economist from Agder University College in Norway. His background is related to the family business which is construction and real estate.

Between 1980 and 1992 Magne has been founder, board member of many real estate investment and development companies as Vegbetong AS, Remco AS, Hotel Express International AS.

Since 1992 he has started activities in Lithuania by getting a turn-key contract for developing Shell petrol stations through construction company Balticum Construction.

In 1994 Magne has attracted a group of private investors acquiring substantial share stake in Hermis Bank, the second largest privately owned bank of Lithuania in 1990s and became a member of its Supervisory Council.

In 1994 Magne has founded and managed Balticum Management, an investment banking company, and has been active in raising venture capital funds focused on the growing business sectors of the Baltics.

In 1998 Magne has founded Inova Baltic to focus on real estate and private equity investments in the Baltics.