Former Antler Norway and Nordic investments lead Kristian Jul Røsjø has teamed up with Askeladden & Co to launch Soria Capital, a vehicle focused on buying existing equity stakes in Norwegian growth companies. The launch’s first fund is reported at NOK 50 million; the newspaper says Askeladden is among the investors in the new vehicle.
Røsjø told Finansavisen the fund will buy shares in mature growth companies that are aiming for an exit within one to three years and that the market for used shares in Norway has been opaque and lacking professional buyers. Askeladden CEO Martin Schütt told the same paper he has no clear explanation why this niche hasn’t been served before.
Soria will seek firms with paying customers and either profitability or a clear path to it, will invest across Norway rather than only Oslo, and says a larger fund and Nordic expansion are ambitions for the future.