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Industrifonden bucks Sweden’s downward VC trend with another deal

17 Dec 2012

Swedish state-backed venture firm Industrifonden has invested SEK13m (€1.5m) in vehicle inspection company ClearCar.

Other investors include Oscarson Invest and Scandinavians Consultant.

The company operates out of two locations, Norrköping and Grums, and said it plans to establish a number of stations across Sweden in the coming years.

“We see this as an exciting new market for us as investors, says Sofia Ericsson Holm, investment manager at Industrifonden.

“ClearCar offer exactly what customers want – low price, proximity and simplicity.”

Sweden’s venture capital industry has all but ground to a halt in 2012, with very little fundraising or deal-making recorded.

Industrifonden has been particularly active however, and just last week invested SEK6m in online legal company Avtal24.

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