EQT Ventures goes for the hat trick, announces final close at €1.1 billion

There are VC firms that have firepower, then there are those that have significant firepower, and then there’s Stockholm-headquartered EQT which has just announced the final close of its third fund at €1.1 billion. With total commitments of €1.1 billion, of which €1 billion is fee-generating, this now brings the total commitments raised across the EQT Ventures’ Funds to €2.3 billion since launching in 2016.

When combined with EQT Growth, a €2.4 billion fund, this now brings EQT’s purse to a hefty €3.5 billion, all aimed at supporting early and growth-stage startups operating in the climate tech, food tech, the creator economy, energy, fintech, software, data & IT infrastructure, deep tech, “and more” sectors. Ticket sizes are expected to range between €1 and €50 million.

“EQT Ventures was founded to give entrepreneurs the investor that we would have wanted on our company board. Now, with a freshly raised €1.1 billion, an advisory team of founders and operators, and being backed by EQT, one of the world’s biggest tech investors, EQT Ventures is here to continue the journey as half startup, half VC, investing holistically in early-stage tech startups, giving founders a fast track to scale,” commented EQT Ventures Partner Lars Jörnow.

Over the past six years, EQT Ventures Funds have invested in over 100 startups, taking on the role of lead investor in 13 companies, and counts nine unicorns in the stables in Wolt, Small Giant Games, Einride, Handshake, Netlify, and Instabox (today Instabee). 

“Now is the time to back category leaders, those driving innovation to change the world for the better. EQT Ventures was set up to give founders the best chance of reaching scale, irrespective of the macroeconomic climate,” added EQT Ventures’ Alastair Mitchell. “We’re an advisory team of founders and operators that have weathered cycles and have experience creating global businesses. The Fund will double down on EQT Ventures' proven European track record, while continuing to grow the impressive portfolio of US startups scaling internationally.”