Venture capital
Sandwater's latest investment fund raised NOK 1.4 billion from pension funds, the European Union and Sweden, among others. This amount is a new record for a new investment fund in Norway.
The venture capital fund, which launched in December 2021, has now closed its first fund for new investors with assets under management of NOK 1.4 billion.
It is almost double the original target of NOK 750 million and is the largest amount for such a recent investment fund in Norway.
Also read Shifter's interview with the Sandwater team on how they achieved the record amount
Sandwater invests in Nordic and European startups that are trying to contribute to solving major societal problems such as the climate challenge and in the healthcare sector.
In this way Sandwater obtained the record amount for a Norwegian project
The investors who joined alongside the fund's ownership are the European Union Investment Fund EIF, the Swedish pension fund Första AP-fonden (AP1) and the investment company LGT, which, among others, manages the assets of the princely family in Liechtenstein.
Norwegian state-owned investor circles Nysnø and Investinor are also owners in the fund, along with the family manager circles of Stein Erik Hagen's Canica and the Lærdal family in Stavanger. A number of individuals from landlord (private equity) funds in the Nordic countries also joined.
-We are very satisfied with the level of support from investors, companies and the ecosystem as a whole. We take the size of the round as a sign that investors share a common understanding of investing in and backing early-stage companies that aim to impact the climate and healthcare system in a positive way, says Sandwater partner Christian Milhous.
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