Stockholm-based EQT Venture, a venture capital fund committed to early-stage tech startups, announced on Wednesday that it has closed EQT Ventures III at €1.1B. This brings the total funds raised to €2.3B since inception in 2016.
EQT Ventures III will make investments of €1M to 50M in founder-led startups using technology to try and solve some of the biggest challenges facing society in sectors such as climate tech, food tech, the creator economy, energy, fintech, software, data & IT infrastructure, deep tech, and more.
The Fund includes participation from several European, North American, and Asian institutional investors, foundations, and endowments. The VC has already backed and supported 13 companies as the lead investor.
EQT Ventures Funds have made over 100 investments in six years. Nine of these companies have reached €1B+ valuation, including Wolt, Small Giant Games, Einride, Handshake, Netlify, and Instabox (today Instabee). The announcement comes two months after the close of the EQT Growth fund at €2.4B.
Lars Jörnow, Partner at EQT Ventures, says, “EQT Ventures was founded to give entrepreneurs the investor that we would have wanted on our company board. Now, with a freshly raised €1.1B, an advisory team of founders and operators, and being backed by EQT, one of the world’s biggest tech investors, EQT Ventures is here to continue the journey as half startup, half VC, investing holistically in early-stage tech startups, giving founders a fast track to scale.”
EQT Ventures: Committed to early-stage startups
EQT Ventures is a venture capital fund committed to early-stage tech startups in Europe and the US. The EQT Ventures funds are advised by over 40 founders and operators across offices in Stockholm, London, San Francisco, Berlin, and Paris, with a 50/50 gender split.
The team’s guidance to the portfolio is assisted by its proprietary AI market intelligence tool – EQT Motherbrain. It is used to source investment opportunities and has assisted EQT Ventures source 15 investments to date, representing €200M of invested capital in total.
It also provides market intelligence to founders within the EQT Ventures portfolio.
Per Franzén, Head of Private Capital and Deputy Managing Partner at EQT, says, “Coming shortly after the close of EQT Growth, EQT Ventures’ successful fundraising is a real vote of confidence in EQT’s active ownership approach to investing. The capital raised across both funds means EQT has now raised new commitments of EUR 3.5 billion to private market tech, consolidating our position as one of the world’s largest tech investors. By driving collaboration across EQT Private Capital, we will continue at the forefront of technology investments across strategies.”
Alastair Mitchell, Partner at EQT Ventures, says, “Now is the time to back category leaders, those driving innovation to change the world for the better. EQT Ventures was set up to give founders the best chance of reaching scale, irrespective of the macroeconomic climate. We’re an advisory team of founders and operators that have weathered cycles and have experience creating global businesses. The Fund will double down on EQT Ventures’ proven European track record while continuing to grow the impressive portfolio of US startups scaling internationally.”
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