Venture capitalist EQT raised nine unicorns, and it won’t rest on laurels
Sweden's EQT Ventures pumps in $1.1 billion in early-stage startups all around Europe
EQT Ventures, the VC fund arm of Sweden’s investment giant EQT has just closed its latest financing round, with an aggregate $1.1 billion in investments. During the fund’s latest startup fishing spree, it focused predominantly on early-stage startups from Europe.
EQT Ventures was founded in 2016, and since its inception it has managed to raise and invest $2.3 billion, backing some 100 companies, with 18 exits and nine “unicorns” (Wolt, Small Giant Games, Einride, Handshake, Netlify and Instabox/Instabee are in that group).
The latest was the fund’s third round and it took place between February and June this year. During this time EQT Ventures made approximately 13 investments including companies such as Juni, Nothing, Knoetic and Candela.
The aspiration for the latest round of EQT Ventures is to make investments ranging from $1 million to $50 million and to invest two thirds of the aggregate sum in startups in Europe, with the remainder going to the US and the UK.
A partner at the fund, Lars Jörnow, noted that ideally the venture would assist initiatives that aim to address societal issues. This would include green-tech investments, transportation and the future of work, particularly keeping mind tools and platforms for freelancers.
