A VC View On Nordic Cleantech
Cleantech is becoming more important in Northern Europe, with an increase of investments in the region, and there's a growing interest from politics and private households. Time to evaluate and have a chat with a dedicated Cleantech Fund from the North to hear their take on the situation.
Ewa Grzechnik works as an Analyst at the Sustainable Technologies Fund (STF), a Venture Capitalist Fund based in Stockholm, Sweden. The Fund was established in 2007 and its main investors are Swedish Pension Funds as well as some private investors. The fund is a dedicated Cleantech private equity growth fund. Their Portfolio currently contains seven companies, and STF is looking to add an another company or two to their portfolio.
Swedish Smart Grid Hexaformer Closed 2nd Round
For a cleantech view in 2009/10, economic stimulus packages have moved to centre stage. USD 396 bln in stimulus funding is going to green investments announced by G20 countries, of this about 50 % of amount will be invested in 2009, according to Cleantech Group (an article). Interestingly, many areas formerly called "infrastructure" have been now rebranded as "green" (like for instance electric transmission lines, smart grid and metering, power system automation)!
Swedish electric transformer company Hexaformer is an excellent case example for a company benefit from the ongoing "green" or electric infrastructure opportunities (when the old technology or ageing infrastructure in many countries, especially in the US, require updating). The company, founded in 2004, closed second round of EUR 3.3 million last week backed by Swedish cleantech investor Sustainable Technologies Fund and the first round investor, Innovations Kapital (which invested EUR 3,3 in May 2007) (a press release).
