Luminar Ventures has launched a 500MSEK (approx. €51M) venture capital fund focusing on seed stage technology companies in Sweden.
Limited Partners are the European Investment Fund, through the Swedish Venture Initiative, Saminvest AB and a number of professional private investors and institutions.
Founded by angel investors Magnus Bergman and Jacob Key, together with Stockholm Innovation and Growth (Sting), a startup ecosystem builder in Sweden and operator of Sting Accelerate, one of the most established accelerator programs in the Nordics, the fund aims to provide experienced seed stage financing and active operational support to Sweden based early stage technology companies that are looking to disrupt or transform major industries with digital technologies and innovations.
Bergman and Key are both former serial entrepreneurs and active angel investors with a successful track record of founding and growing tech startups. Over the last 10 years, Bergman made over 30 seed investments with a handful of exits.
Before founding Luminar Ventures, Key made close to 20 early stage investments, with 3 exits to date.
Joining the team are also Linda Höglund and Daniel Karsberg. Höglund has a background as global CFO at fast scaling unicorns, including Klarna in Europe and Grab in South East Asia. Karsberg joins Luminar from his most recent role as Investment Manager at Creathor Venture, where he led Creathor’s Nordic operations.
Luminars’s core investment focus is on scalable digital seed stage companies from Sweden, founded by highly motivated and talented entrepreneurs with a vision to disrupt or transform major industries.
The fund is looking to lead larger seed rounds through an average investment of around 10 MSEK, but will also do pre-seed and series A investments.
The fund also has a strategic partnership with KTH Holding AB, which is the holding company of the KTH Royal Institute of Technology – one of the leading technical and engineering universities in Europe.