SamInvest receives SEK 20m in EU funding

The capital will be added to SamInvest's current venture capital fund Mål 2, which increases from SEK 100m to SEK 120m. The fresh capital will be used for five new investments and a number of follow-on investments prior to the closure of the fund on 31 December 2014.

SamInvest invests alongside private investors that match or exceed the firm's contributions. The aim of the fund is to increase the availability of venture capital in northern Sweden and to function as a catalyst linking private venture capital and small and medium-sized companies.

Since the venture capital fund's inception in 2009, SamInvest has deployed close to SEK 80m across 27 companies. The slight majority (14) of these businesses are based in the Jämtland county, while 13 are based in Västernorrland. Together with the capital from private investors, close to SEK 240m has been invested in the companies to date. SamInvest has raised one previous investment vehicle.

Current portfolio companies include ChemseQ International, Marsblade and ArtBoard.

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