AV Group Ltd., an asset manager with offices in New York, Cayman Islands, Norway and Singapore with a focus on growing Norwegian based ESG and Impact companies globally, has just launched a Singapore based Fund.
The Elite Innorvate Fund Pte Ltd., in conjunction with strategic investment partner Elite Partners Capital Ltd, focuses on bringing Norwegian companies to SE Asia and China in order to build upon the Polar Silk Road initiatives.
AVG has partnered with Elite Partners Capital Ltd. to help Norwegian companies find strategic partners throughout Asia.
The target AUM for the first Fund in Singapore is US$50 million.
The Fund’s first investment of US $2.2m is Tag Sensors from Mo I Rana Norway. Tag Sensors has developed a printable temperature sensor that can be attached to a product or package, facilitating continuous tracking of an item’s temperature from production to consumption.
AVG has also launched a second Fund called the Norwegian Innovation Fund, LP, with a target capital raise of (USD $200m). Complementing the Singapore based Fund, the Norwegian Innovation Fund, LP will expand upon ESG and Impact tech companies. The investment focus is on the strategic core areas of Norwegian growth which are clean tech, smart city/society tech, ocean space tech and the strategic core areas of Norwegian growth.
The Norwegian Government provides strategic financial matches to investments in these core areas to which the Fund optimizes for each of the portfolio companies.