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 24 investments, all tied to the UNs SDGs, many of which call Europe home, and as of today, it adds another in Copenhagen-based cybersecurity firm Logpoint.
The startup has a presence in 11 locations across Europe, the US, and Asia, and is the only major European provider of foundational SIEM, UEBA, SOAR, and SAP security technologies available in one single platform.
In so much, Logpoint helps organisations of all sizes combat cybersecurity threats, operate reliable IT infrastructures, and provides a crucial piece of the puzzle as more and more enterprises large and small aim to comply with regulations including as GDPR and NIS2.
In line with the fund’s thesis, via the Logpoint investment, Summa is addressing a major global challenge; According to Cybersecurity Ventures, cybersecurity incidents are estimated to cost the global economy €7.6 trillion in 2023 alone.
The investment directly responds to UN SDG #9 by supporting a resilient infrastructure, and SDG #16 by supporting effective, accountable, and transparent institutions and public access to information.
“By taking a majority stake in Logpoint, we are investing in securing the global tech-enabled transformation, which is vital to reaching most of our sustainable development goals,” said Summa’s Christian Melby. “It is an investment in European cybersecurity resilience, ensuring that the technology to secure digital infrastructures thrives in Europe. Logpoint will serve as the platform for building a European cybersecurity powerhouse, as an alternative to the dominating US vendors.”
The financials attached to the investment/acquisition remain undisclosed.
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