The fund will target early-stage, high-growth, high-tech companies which build their business case on the commercialisation of technological innovations, in markets such as systems, components and software. Geographically, the fund will mainly target investments in Sweden, and in the rest of the Nordic countries, investing in approximately 15 companies.
“We are delighted that
The EIF is a cornerstone investor in Creandum II, the investment made through the ETF Start-Up window of the European Commission programme in support of small businesses. This facility targets seed or early-stage funds, a stage where private sector co-investors continue to be scarce.
Francis Carpenter, chief executive of the EI, said: “We are pleased that EIF has committed to Creandum II operating in the Nordic countries which have heavily invested in R&D. We are convinced that the Creandum team has all the ingredients to take advantage of this market opportunity, in an ever competing high-tech environment, and is well positioned to develop high tech innovations into attractive businesses. ”
Creandum began life 2003 with the launch of Creandum I. To date it has made ten investments.