Swedish investment firm Verdane Capital has closed its new fund at 3 billion SEK (€295 million) to back high-growth Nordic startups.
The fund, Verdane Edda, will back startups with up to €50 million per company – usually for a majority stake – that has exhibited potential for significant growth in the software and consumer internet sectors. More than half of the fund’s backers are from outside the Nordics, including government agencies, family offices, and private and public pension funds.
“Verdane has significant experience supporting management teams in accelerating and sustaining growth, especially where digitalisation is a key driver,” said Bjarne Lie, managing partner at the firm.
“Verdane funds have invested in over 170 companies within software and consumer internet over the last 15 years, and we now look forward to harnessing our extensive expertise with Verdane Edda. The new fund further strengthens our position as the leading pan-Nordic investor in our target segments.”
The firm recently appointed new partners in Jakob Tolleryd and Johnny Rindahl to oversee investments in ecommerce and software.
“Having worked with Verdane as a CEO and founder prior to joining the Verdane Edda team, I have seen first-hand how it operates as a strong partner to the Verdane funds, co-owners and management,” said Tolleryd, who was founder of Domain Network and Carambole.
According to the firm, its portfolio companies has achieved revenue growth of over 90% on average following investment.