Industrifonden partially exits Oatly to Verlinvest

Industrifonden sold part of its 17% shareholding to Belgian investment company Verlinvest and Chinese investor China Resources, but will retain a stake of around a third of its previous holding.

The exit comes 14 years after Industrifonden first invested in Oatly and forms part of a plan to grow the Swedish business globally, with particular focus on China and the US.

In a statement, the VC said the proceeds from its sale of Oatly shares will be ploughed back into Industrifonden's evergreen fund, to be invested in other startups.

Other Oatly backers such as Östersjöstiftelsen, private investors and the company's founders and employees will continue to own a stake in the business.

Previous funding
Industrifonden first invested in Oatly in 2002, injecting an undisclosed amount of capital.

The VC returned with a SEK 26m investment for a 10% stake as part of a total SEK 72m round in 2006, alongside Östersjöstifelsen and Carnegie.

Company
Headquartered in Landskrona, Oatly is a maker of oat-based non-dairy products such as oat milk.

According to Industrifonden, the company had revenues of SEK 369m in the last financial year.

People
Industrifonden – Thomas Carlström (investment manager).

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