Segulah launches SEK 5.6bn fifth fund

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Segulah has launched a SEK 5.6bn fund, Segulah V, according to Securities and Exchange Commission (SEC) filings.

According to the Form D filed with the US regulator, the fund has yet to raise any capital, but Segulah does not expect to be on the road for more than a year.

The new fund is expected to follow the same strategy as previous funds, which have targeted the lower-mid market. The GP launched its previous fund – Segulah IV – in 2007, closing it on SEK 5bn with a SEK 5m minimum investment.

According to unquote data", Segulah has only exited a single portfolio company in Segulah IV, and has made four acquisitions via the fund since December 2013.

Most recently, the company announced the acquisition of Docu Nordic in August, slightly more than a month after it bought Swedish publisher Mitt i.

At the time of launch it was reported that the GP anticipated holding periods of four to five years for its investments. However, the fund did not complete its first deal until September 2008.

The SEC filing for Segulah V shows that the fund will be registered in Jersey, which goes against a recent trend by some Swedish GPs of bringing their vehicles back onshore.