Creandum, a Nordic early stage venture capital firm said it closed its second fund at SEK 750 million (US$107 million), attracting major European investors, including the European Investment Fund.
The firm started operations in 2003 with the establishment of Creandum I, focusing on early stage technology start-ups in Sweden, Finland, Norway and Denmark. To date ten investments have been completed.
Creandum II will invest in approximately 15 companies. "We are delighted that Creandum has succeeded in attracting so many respected international investors. Reaching our maximum fund size in a first close after just a few months of fundraising, shows that our performance in the Nordic market, together with the track records of each of the members of the Creandum team, has been well recognised by our investors” says Staffan Helgesson, Managing Partner at Creandum.
Among the other investors are the Sixth Swedish National Pension Fund and Skandia Liv, which were the key investors in Creandum I.
Cecilia Gross Friberger, Portfolio Manager Venture Capital at the Sixth Swedish National Pension Fund says, “ We are a long term investor and we strongly believe that the Creandum team has the right capability to create high long-term returns through value creation in the portfolio companies.”