Growing Swedish companies attract more venture capital
James Savage · 20 Mar 2007, 17:09
Published: 20 Mar 2007 17:09 GMT+01:00
Around 6 billion kronor went to 668 investments in companies in the seed, start-up and expansion phases, according to a new report.
The report was produced by the Swedish Private Equity and Venture Capital Association (SVCA), along with the Swedish Agency for Economic and Regional Growth and the state-backed innovation finance foundation Innovationsbron.
Companies in the more mature growth phases of buyout and replacement capital received investments of around 40 billion kronor, a rise of ten percent on 2005. Companies involved in medical technology and biotechnology received the largest numbers of investments.
"The majority of venture capital companies believe that the economy will continue to grow, and they see improved possibilities for good exits," said Tom Berggren, CEO of SVCA.
"Nearly half say that they will invest more capital in 2007 than in 2006," he added.