“Government life science initiative – an important step in the right direction”

The government's new venture capital company has made its first investment: SEK 160 million in a life science specialized fund that will invest in Swedish companies.

“Government life science initiative – an important step in the right direction”

The government’s new venture capital company has made its first investment: SEK 160 million in a life science specialized fund that will invest in Swedish companies.
– This is a good start that can facilitate the acquisition of venture capital for life science companies, while it is a receipt that our long-term opinion and influence work bears fruit, says Jonas Ekstrand, CEO of SwedenBIO.

The state-owned venture capital company Saminvest was launched as recently as July this year with the task of investing in privately managed venture capital funds where there is a need for market-complementary investments. It is now announcing its first investment, SEK 160 million in Hadean Capital, a Norway-based fund that is opening an office in Stockholm to invest in Swedish life science companies.

– SwedenBIO has conducted a determined effort to improve the life science sector’s access to venture capital, and in this context, streamlining the state venture capital has played a central role. We have consistently advocated precisely this kind of fund-in-fund solution, which draws on the expertise of private investors,” says Jonas Ekstrand.

However, he stresses that 160 million is a relatively small amount in this context.

– This is a promising start, but according to our calculations, at least SEK 1.5 billion needs to be invested together with government venture capital. This would give 10-20 companies a boost, which is the minimum level for us to see positive effects on growth, exports and skilled jobs.

Read the press release.