Stockholm-headquartered EQT closed EQT Ventures Fund on 566 million euros ($633 million). The fund will invest in tech companies across Europe at all stages of growth.
Backers include HarbourVest Partners, Ilmarinen, Finnish Industry Investment, European Investment Fund, Fourth Swedish National Pension Fund, Vaekstfonden and SEB Pension och Försäkring AB.
Some 10 percent of committed capital comes from a network of entrepreneurs, with another 10 percent invested by professionals within EQT Partners.
The fund has five initial investments — Riskmethods (Germany), Wolt (Finland), Holidu (Germany), Min Doktor (Sweden) and Oden Technologies (UK) — and is led by Hjalmar Winbladh, Kees Koolen and Lars Jörnow. EQT’s network of independent industrial advisers will assist with portfolio-company growth.
EQT Ventures will also make use of two software programs: Motherbrain, which sources investment opportunities, and Together, which matches angel investors and early-stage startups.
Photo: Sweden’s flag is seen near the Stockholm Cathedral in Gamla Stan or the Old Town district of Stockholm on June 9, 2010. Reuters/Bob Strong