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Sustainable Technologies Fund closes on €58m22/09/2008. Source: AltAssets. 
 Nordic cleantech venture capital fund Sustainable Technologies Fund, co-founded in 2007 by Anders Frisk and André Heinz, has raised €58m from Swedish and foreign institutions and individuals, the firm has announced.
The Sixth Swedish National Pension Fund and the Third Swedish National Pension Fund are among the investors in the fund.
Sustainable Technologies Fund invests expansion capital in companies active within renewable energy, energy efficiency, renewable materials and green chemicals, recycling and purification technologies.
The fund has invested in two companies to date, Swebo Bioenergy and Suncore (solar energy). It plans to invest in 12 to15 companies over a five-year period.
Frisk said, 'It is very inspiring to have the confidence of several large and established investors. Now we can continue to carry out more investments in our focus area, that is to say Nordic cleantech companies. The activity among these companies is high and investment opportunities are good.'
Heinz added, 'The transition from today's energy supply, most of which is non-renewable, and which, among other things, contributes to increased climate change, is very large and will require new technologies and large amounts of capital for a long time. This, in turn, creates favourable conditions for new businesses in many different markets. And of course, it will also create large commercial value at the same time.'
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