Eqvitec Technology Fund III raises E130m

Eqvitec Technology Fund III has reached its target amount, raising €130m in its first closing. The fund is looking to invest between €1m and €10m in approximately 25 to 30 Nordic early and growth phase technology companies as well as spin-off arrangements.

The fund will invest mainly in technology and in addition to ICT companies investments will be made in industrial technology applications. Of particular interest are unlisted companies specialising in technology products and services in Finland, Sweden, Norway and Denmark.

The fund has raised the capital from nine institutional investors. One half of the commitments come from international and the other half from Finnish investors. The fund has already reached its target size, but since it has raised significant interest, it will accept further commitments from a few more investors.

“The €130m from Finnish and European institutional investors shows their trust in the potential of Nordic technology companies: with know-how they can be built into world successes. We are flattered that they rely on Eqvitec Partners in this demanding task and that we can be involved in advancing the competitiveness in the Nordic countries and supporting Nordic companies in reaching their growth and internationalisation targets,” says Jukka Mäkinen, managing partner of Eqvitec Partners Oy.