Finnish Industry Investment Ltd has made a 7,5 million euro commitment to Creandum Advisor’s new venture capital fund. Creandum III invests in early and later-stage technology companies in the Nordic countries. The investment focus is on consumer ventures with internet and mobile technologies, as well as on software and hardware investments. Creandum III raised 92,5 million euros from Nordic and international institutional investors at its first closing, and aims at 150 million euros in its final closing.
Anne Riekki, Director for Fund Investments at Finnish Industry Investment Ltd comments: ”Creandum’s investment focus is a good match with the deal flow we see in Finland. We expect Creandum to bring added value to its investee companies through active ownership and access to its international network.”
Creandum was founded in 2003. It has raised 120 million euros in its two earlier funds. To date, Creandum has made investments in 23 technology companies, including Spotify, AppearTV, Cint and It’s Learning.
For further information, please contact:
Anne Riekki, Director, Finnish Industry Investment Ltd.
Tel. +358 50 337 4434, e-mail: anne.riekki@teollisuussijoitus.fi
Finnish Industry Investment Ltd is a government-owned investment company which promotes Finnish business, employment and economic growth through venture capital and private equity investments. Finnish Industry Investment invests in funds and directly in growth companies in all sectors. The investment focus is on growth, internationalisation, spin-offs, major industrial investments, and sectoral and corporate restructurings. The investments of Finnish Industry Investment amount to 700 million euros. www.industryinvestment.com