Node.vc Secures €71 Million to Transform Nordic and Baltic Startups with Experienced Entrepreneur Investors

Tune

Node.vc has raised 71 million euros and is betting on experienced entrepreneurs as investors, writes Techcrunch.

A new Swedish venture fund called Node.vc has now joined a group of European investment firms that claim to act as “entrepreneurs supporting entrepreneurs”. The fund has collected 71 million euros to invest in startups in the Nordics and Baltics, reports TechCrunch.

– I hope this is the beginning of a trend, says John Elvesjö, managing partner of Node.vc, to TechCrunch.

– Europe has lagged well behind the US in terms of operational experience with venture capital investors, he said.

Node.vc stands out because the investment team and many of the investors have strong entrepreneurial experience. Elvesjö himself helped found the Swedish eye tracking company Tobii, which went public in 2015. The fund’s investors include 70 entrepreneurs.

The fund has also secured institutional investors, including Swedish mutual fund Saminvest and the life and pensions arm of Scandinavian bank Nordea.

Investments up to 10 million euros

Node.vc plans to support seven startups per year, with an average initial investment of 1.3 million euros. They can continue with investments of up to 10 million euros in individual companies.

– We have a team that is a bit too big on purpose, which means that we have more people in the team than the fund can normally fund. The reason for this is that we are entrepreneurs and we are building a venture capital company, Elvesjö explains.

The fund is sector neutral, but focuses on three themes: the future of entertainment, the future of work and platform technologies. Elvesjö believes that the Nordic region is “ideally positioned” to take advantage of the opportunities brought by AI tools, which he believes will “disrupt almost every industry”.

The issue was written using artificial intelligence and quality checked by Shifter editors.

.