Turbine Capital has successfully closed its first investment fund at €54 million (SEK 608 million). This fund aims to support early-stage DeepTech companies in the Nordics by connecting them with industrial leaders. Notable investors include Mycronic, Saab, Scania, and Volvo Cars, among others, reflecting the fund's robust backing from the industrial sector.
The European Investment Fund and Saminvest are among the institutional supporters of this fund. Turbine Capital's initiative comes amid a significant capital influx into specialized VC funds across Europe, with several other funds in the Nordics also achieving substantial closings. These partnerships promise to enhance the innovation landscape for startups in this region.
The closure of this fund is expected to improve access to essential capital for DeepTech companies, thereby potentially driving job creation and innovation within the sector.