Cap A launches Nordic B2B technology fund

The VC firm is planning an initial close for the fund by Q2 2018.

Fundraising began in the last quarter of 2017, co-founder and managing partner Tanya Marvin-Horowitz told unquote".

The firm hopes to become the preferred series-A and seed investor from the US for Nordic tech startups, providing a global perspective and helping them market themselves to other countries in Europe and the US, she added.

For the first close the investment team will typically raise at least half of the commitment received. After the first close, the team will be looking to make a first investment, and a final close would follow 12-18 months later.

Cap A is currently targeting Nordic companies for a first investment, Marvin-Horowitz said.

Previously, Cap A raised a €15m fund, Butterfly Venture Fund III, which was launched in partnership with Butterfly Ventures, a Finland-based Nordic seed investor. Prior to that, the firm had launched a pilot fund, Cap A Fund I, which made 18 investments across the Nordic countries and the US.

Investors
Investors include strategic partners Ericsson Garage and the Nordic Innovation House, based in New York. The fund has also received early commitments from California-based Universal Electronics, which produces control devices and Internet-of-Things technologies.

Investments
The fund will invest in early-stage technology companies in the Nordic countries of Denmark, Sweden, Finland and Norway. Specific sub-sectors will include Internet of Things, mobility and human-computer interaction, as well as nanotechnology, advanced materials, and security-layer technologies that enable them. 

People
Capital A Partners – Tanya Marvin-Horowitz, David Mendez (co-founders, managing partners). 

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