Svenska Stjärnor partners with the new investment fund Eir Ventures
The new investment fund Eir Ventures and its management team has committed a first investment closing round of its fund of 790 MSEK together with a strong investor syndicate comprising Saminvest, the European Investment Fund (EIF), danska Vækstfonden and Novo Holdings, as well as additional private investors including six Swedish university holding companies.
The fund and its investors want to build a strong deal flow of high-tech companies to invest in. Svenska Stjärnor helped the fund management to outline the working models and capital structures needed in the early stages of company development.
Eir Ventures and Svenska Stjärnor launches hereby a special financing vehicle focused on seed financing, called the Seedling. It will invest in the most promising spin-outs from the six university holding companies and their incubator programs and investment portfolios. Further, Eir Ventures will have the opportunity to invest in future series A and B financing rounds in these companies.
- Eir Ventures will be an ideal investment partner to fill the gap in funding in the early stages of company development and it will align the need of early seed investments in our most promising companies, explains Mona Wilcke, CEO of SU Holding and chair of the board of Svenska Stjärnor.
- The collaboration with Svenska Sjärnor gives Eir Ventures a unique opportunity to gain access to a valuable deal flow from universities that have already been refined within the academic innovation system by these six motivated holding companies, states Magnus Persson, Managing Partner of Eir Ventures.
Read more about Eir Ventures:
For more information:
About Svenska Stjärnor:
Svenska Stjärnor, established in 2018, is owned at the moment by the following six Swedish university holding companies; GU Ventures, LIU Holding, LTU Holding, SLU Holding, SU Holding and Örebro University Holding. Svenska Stjärnor’s main goal is to build, develop and finance new investment vehicles that will fund start-up companies created within the respective university holding company.
About Eir Ventures
Eir Ventures is a Life science focused venture fund that with a strong foundation in the Nordic Biotech ecosystem will invest in early stage as well as more mature opportunities. The fund initiates investment activities in 2020 and will seek opportunities addressing significant unmet medical needs
for new therapies, medical technology and digital health. Eir Ventures is founded by a team of experienced life science investors, and backed by a strong investor syndicate comprising Saminvest, the European Investment Fund (EIF), Vækstfonden, Novo Holdings, as well as additional private investors. Eir Ventures I AB is a registered alternative investment fund, under the Swedish Alternative Investment Funds Managers Act. http://www.eirventures.eu
Saminvest is a venture capital company, founded by the Swedish Government in 2016. Saminvest works actively for the establishment of new venture capital funds with sufficient qualities and long- term ability to develop the Swedish venture capital market, giving innovative and fast-growing companies access to both capital and ownership skills. https://www.saminvest.se
The European Investment Fund (EIF) is part of the European Investment Bank Group. Its central mission is to support Europe's micro, small and medium-sized businesses (SMEs) by helping them to access finance. EIF designs and develops venture and growth capital, guarantees and microfinance instruments which specifically target this market segment. In this role, EIF fosters EU objectives in support of innovation, research and development, entrepreneurship, growth, and employment. Further information: https://www.eif.org
In close collaboration with banks and domestic and international private investors, we discover and develop the companies that Denmark cannot afford to miss out on. We carry the experience and the expertise that make businesses grow – from digitalizing a carpenter's business in small town Sallingsund to the launching of a robotic arm in Silicon Valley. The power of innovation, yield to society and responsibility are the three signposts that guide us in finding and choosing new projects. Since 1992, Vaekstfonden has co-financed growth in over 8,500 companies for a total commitment of more than DKK 27.3 billion. Further information: https://vaekstfonden.com
About Novo Holdings A/S
Novo Holdings A/S is a private limited liability company wholly owned by the Novo Nordisk Foundation. It is the holding and investment company of the Novo Group, comprising Novo Nordisk A/S and Novozymes A/S, and is responsible for managing the Novo Nordisk Foundation's assets. Novo Holdings is recognized as a leading international life science investor, with a focus on creating long- term value. As a life science investor, Novo Holdings provides seed and venture capital to development-stage companies and takes significant ownership positions in growth and well- established companies. Novo Holdings also manages a broad portfolio of diversified financial assets. Further information: http://www.novoholdings.dk