Sintef launches NOK 500m seed fund for startups

The new NOK 500m vehicle will be managed by Sintef TTO, the technology transfer office of Sintef. It will invest in and develop SMEs with activities based on technology originating from research at Sintef and the Norwegian University of Science and Technology, both based in Trondheim.

Sintef Venture IV was established in 2014 along with the European Investment Fund (EIF) and SpareBank1 SMN Invest, with a NOK 209m investment capacity. 

Investors
The fund will be supported by the InnovFin Equity Facility for Early Stage, with financial backing from Horizon 2020, the EU research and innovation programme. Investors in the fund include EIF (NOK 155m) and various Norwegian investors that are partners in the fund. These include Sintef (NOK 110m), KLP (NOK 75m), Gjensidigestiftelsen (NOK 50m), Sparebankstiftelsen DNB (NOK 40m), SpareBank1 (NOK 30m), MP Pensjon (NOK 20m), Reitan Kapital (NOK 10m) and Orkla (NOK 10m).

Investments
Sintef Venture V will provide seed capital for early-stage investments in startup companies. The fund's investments will focus on areas covered by the societal challenges targeted by Horizon 2020, such as life sciences, clean energy and ICT.

People
Sintef – Alexandra Bech Gjørv (CEO).
European Investment Fund – Maria Leander (secretary general).

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