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Spintop Fund IV launched with continued EIF backing

  •  
    Date: 04 July 2022

Spintop Ventures proudly presents the new Spintop Fund IV. Investors and the early-stage technology companies Spintop invests in have shown a strong trust in the active engagement, the long-term commitment and the vast experience of the Spintop team. As a result, Spintop is now trusted to manage a total amount approaching 2 billion SEK.

“Our new fund is actually old news. The fund started actively investing in early 2022”, says the Spintop Team.

The European Investment Fund, EIF, a major investor in top-tier funds across Europe, and Sweden’s Saminvest, have decided to continue their cornerstone roles from the previous Spintop fund.

“We are very proud of the trust from our cornerstone investors, the strong support from Nordic family offices, institutional investors and our network of 50+ entrepreneurs and executives from the technology sector. Many of our investors have been with Spintop for a long time. A specially warm thanks to the investors who have invested with Spintop since the first fund in 2010, with some having doubled their commitments with every new fund generation”.

Investors have demonstrated their confidence in Spintop’s battle-proven pan-Nordic early-stage technology investment strategy:

  • A solid track-record from the previous Spintop funds where value has been realized in numerous exit transactions and distributed to investors.
  • An active and long-term engagement with all companies Spintop invests in, combined with a capacity to make significant follow-on investments in the companies that perform well.
  • A true pan-Nordic footprint where currently ~40% of investments are in Finland, Norway and Denmark and ~50% of the Swedish investments are from outside of the Stockholm region.
  • Applying software technology and the venture capital scaling playbook to maximize sustainability impact. Sustainability is an integrated part of all investment activities and Spintop IV adheres to the EU SFDR Article 8.
  • Actively supporting diversity as it drives long-term returns and is essential for society - currently 30% of the active portfolio companies are led by female CEOs.

‘’With this operation the EIF is contributing to the management of two-billion SEK investments by Spintop Ventures. Investing in Swedish and Nordic early-stage technology is crucial for Europe’s digital transition,” says Alain Godard, Chief Executive of the European Investment Fund.

”We are pleased to invest in Spintop IV. The new fund is well positioned to take advantage of the investment opportunities and develop the eco-system in the early-stage tech sector in Scandinavia, and we particularly appreciate their efforts within sustainability'', says Peder Hasslev, Chief Executive Officer at Saminvest.

The fund will remain open to bring on new investors on a selective basis during the fall.

Background information:

Spintop Ventures is an early-stage technology venture capital firm. We support teams on a mission to build great companies. Spintop invests in innovative software-based technology companies from the Nordics to become sector leaders and drive the transformation into a longterm sustainable society.

Saminvest is a venture capital company that was formed by the Swedish government in 2016. Saminvest actively works to establish new and sustainable venture capital funds and angel investor programmes that expand the venture capital market in Sweden. Through Saminvest's indirect investments and work with investment funds, innovative and fast-growing companies can gain access to more capital and expert advice. Website: 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.

Press contacts:

EIF:
Ulf Bergstrom,
Tel: +352-4379 77019, Mobile: +46 (0) 708 20 35 40, u.bergstrom@ext.eib.org
Follow us on Twitter@eif_eu - Website: www.eif.org - Press Office: +352 4379 21000 – press@eib.org

Spintop Ventures:

Finn Persson, finn.persson@spintopventures.com - Website: www.spintopventures.com

Note: Following the recent withdrawal of the United Kingdom from the European Union, we are updating the relevant EIF.org pages.

 
 

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