Stockhom, Sweden based private equity group EQT closed its latest fund, at €566m.
EQT Ventures Fund is backed by a global investor base including, among others, HarbourVest Partners, Ilmarinen, Finnish Industry Investment, European Investment Fund (EIF), The Fourth Swedish National Pension Fund (AP4), Vaekstfonden and SEB Pension och Försäkring AB.
In addition, professionals within EQT Partners have contributed with approximately 10% of committed capital.
Advised by the EQT Ventures team at EQT Partners, the fund is a multi-stage venture capital fund which will invest €1 to €75m in fast-growing, innovative and tech-enabled companies across Europe, supporting entrepreneurs throughout different stages of growth.
Five investments have already been made in Riskmethods (Germany), Wolt (Finland), Holidu (Germany), Min Doktor (Sweden) and Oden Technologies (UK).
EQT Ventures is headed by technology industry veterans Hjalmar Winbladh, Kees Koolen and Lars Jörnow, who have experience in supporting companies in scaling in technology, design, analytics, global roll-out, marketing and communications.
Portfolio company growth will be further supported by an established network of over 250 independent Industrial Advisors. The initiative also includes:
– Motherbrain, a software driven approach where tech will be used to proactively source investment opportunities, and
– Together, a matchmaking tool for angel investors and early-stage startups.