Sitra has signed a 2 million euro investment commitment for Inventure Fund II. Inventure Fund II is a 50 million euro venture capital fund that invests in early stage technology companies. Sitra’s investment promotes the commercialization and internationalization of the Finnish technology industry.
The fund’s investors include European Investment Fund (EIF), FoF Growth, Finnish Industry Investment, and Sitra among several institutions and private investors. The fund is also supported by European Union through the Competitiveness and Innovation Framework Programme (ClP). Fund raising continues in 2014 towards the target size of EUR 75 million.
Inventure Fund II will invest in approximately 20 high-technology companies in Finland, the Scandinavia, and the Baltic countries. Inventure focuses on early stage investments in device, electronics and component domains and in mobile internet and software sectors. The portfolio of Inventure’s previous funds includes internationally successful companies such as Canatu, Rightware, Merus Power, Freespee, Conmio, and Thinglink.
Inventure’s investment strategy is in line with Sitra’s strategic goals in the area of ecological sustainability, for example in nanotechnology and energy-efficient solutions. Canatu is a good example of efficient use of materials. Inventure also focuses on mobile and self-diagnostics that enhances the processes of health care.
The Inventure team consists of Sami Lampinen, Timo Tirkkonen, Tuomas Kosonen and Fei Xu. Inventure operates in Helsinki, Finland, and Shanghai, China.