EIF intensifies its commitment to innovation in the Nordic region

Under the Competitiveness and Innovation Framework Programme" (CIP), EIF has invested in two Nordic venture capital funds which target the high-tech, ICT and software sectors.

NorthCap IVS III, which is managed by a fully independent team, particularly focuses on technology companies in Denmark and Southern Sweden. The fund provides financial capacity and support to start-ups in a region which, although a thriving ICT hub due to the concentration of high quality education and research centres, suffers from a decreasing presence of VC fund managers and lack of available funding. 

Conor Technology Fund II is managed by a team with vast experience in the venture capital industry having invested in the ICT, electronics and software sectors in Finland for many years.  Their involvement in innovative companies located in Finland, Sweden and the Baltic states will be instrumental to the businesses growth, development and cross-border expansion.

Through these two transactions EIF, as a cornerstone investor aims to contribute to filling the funding gap early stage companies experience in the ICT sector and to fostering innovation and regional development.

Press contacts:

• Joëlle Harvey, EIF Communications, tel +352 426 688 346, e-mail: j.harvey@eif.org