With $2.4 billion to work with, Stockholm-based Summa Equity lays claim to Europe’s largest impact fund (although its founder is not a fan of the term). To date, the firm has collected a portfolio with no less than 23 investments, all tied to the UNs SDGs, many of which call Europe home. However, as of today, Summa turns its attention westward, and is opening an office in Palo Alto, California.
Heading up the hunt are Summa partners Tommi Unkuri, Gustavo Salem, and Nick Roelofs, who will be joined by a number of Summa staff, including investment director Anna Ryrberg.
“Summa has never been bound to its Nordic roots in the companies we work with. Our strategy is non-geographical, non-sector, and non-asset class specific. Opening a West Coast office is an extension of this approach: we are not just looking at American companies, but looking to attract and work with some of the world’s leading minds on how we can transform the world,” explained Summa Equity founder and managing partner Reynir Indahl. “Today’s interventions are the innovations of the past - Summa invests in global transformation.”
Having cast a rather wide investment net, the next challenge for Summa is finding the next healthcare-related startup that meets its stringent criteria. According to the company, they’ll be investing in companies that, “develop innovative and transformative solutions that make healthcare more predictive, preventive, personalized, and participative.”
Considering Unkuri’s strong background (and board seats) in a number of health techs, Salem’s experience with life science tools and diagnostics companies, and Roelofs’ time at Baxter Healthcare, Applied Biosystems, Stratagene, Bio-Rad, and Agilent, it would appear that Summa has the optimal eyes and ears, and boots for the job, on the ground.
“The Summa approach is very unique. In leading the Changing Demographics theme at Summa, we are seeking transformative companies that will deliver positive outcomes for communities across the globe and enable people to prosper,” commented Unkiri. “Such businesses typically deliver sustainable growth and achieve continued long-term success, whilst creating value for the wider public.”
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