Nordic pension fund ATP has launched its second venture vehicle to invest in IT and telecom start-ups in the Nordic region.
The fund, managed by Via Venture Partners, closed on DKK1bn (€134m), with ATP as its sole investor.
ATP’s Via Venture Partners fund I, set up in 2006, is now fully invested, and the pension fund has said it is keen to invest further in the sector. ATP has a deep pot to draw on, managing Danish pension savings in excess of DKK400bn (€54bn).
“Despite the financial crisis, Via Venture Partners has been a very active investor over the last 4 years. We have established ourselves as a good partner for entrepreneurs, management teams and syndication partners across Finland, Sweden, Norway, and Denmark,” said Via managing partner John Helmsøe-Zinck
Via specialises in software, telecoms and internet companies. Its investments range from DKK150m (€27m) stakes in companies looking to expand outside the Nordic region to seed capital for early stage start-ups.
It generally takes minority stakes in companies with revenues from €5m to €30m, though it says it will sometimes take a controlling stake.
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