A new player is set to shake up the Nordic investment scene, thanks to a hefty €70M fund.
Kvanted Ventures, a freshly established early-stage investment company, is making waves as the first pure-play industrial technology investor in the Nordic region. Founded by Maria Wasastjerna, Eerik Paasikivi, and Axel Ahlström, Kvanted Ventures aims to fuel the next industrial revolution by supporting early-stage industrial technology startups in Northern Europe.
The €70 million fund will be strategically invested in approximately 20 companies, providing initial funding ranging from €0.5 to €3 million. What sets Kvanted apart is its commitment to longer-than-average investment terms, aligning with the extended development cycles typical in the industrial domain.
Kvanted Ventures positions itself as a catalyst for the industrial sector’s evolution, driven by an urgent need for investments in Europe to enhance competitiveness and decarbonize the industrial landscape. With a mission to build a more sustainable and efficient industry, Kvanted bridges the gap between traditional industries and innovative tech startups.
Maria Wasastjerna, founding partner of Kvanted, emphasized the untapped potential in the industrial sector: “The industrial sector is the cornerstone of the European economy. But in terms of technological development and digital transformation, there is still a lot to be done – and a lot of untapped potential.”
Kvanted invests in both hardware and software, as well as service companies developing new solutions for the industrial value chain. The focus areas include industrial automation, sustainability, and supply chain resilience.
The founding team brings a wealth of expertise in venture capital, private equity, legal and regulatory affairs, and investment banking. Eerik Paasikivi, with over a decade of experience in early-stage industrial investing, Maria Wasastjerna, with a background in law and technology, and Axel Ahlström, blending consulting and private equity experience, lead the charge.
Unlike many early-stage investors, Kvanted embraces the physical world, acknowledging that solutions to challenges like climate change require developments beyond software. “Solving the biggest challenges of our time, such as climate change and an aging workforce, is not possible with software solutions alone. For this, we also need to develop solutions that exist in the physical world,” added Wasastjerna.
To bolster its capabilities, Kvanted has seasoned investor Heikki Westerlund as the chair of the board. Westerlund, former CEO of CapMan, brings extensive experience and a vast network to the team.
Kvanted’s fund investors include established industrial players like Oras Invest, offering portfolio entrepreneurs valuable access to industry networks and decades of experience in supporting industrial innovations.
The venture is also backed by a group of Venture Partners with backgrounds in growth companies and large industries, actively contributing their knowledge, skills, and networks to support Kvanted’s portfolio companies. Suvi Haimi, Lars Peter Lindfors, and Kai Öistämö are among the notable figures joining Kvanted on this exciting journey.
Source
New Finnish early-stage firm Kvanted Ventures launches €70 million Nordic industrial tech fund, EU-Startups, 2023-11-08
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