Turbine Capital closes €54 million DeepTech fund linking Nordic startups with industrial leaders
Swedish venture capital fund Turbine Capital has completed the final close of its first fund at €54 million. Industrial company Mycronic has joined as a new investor.
Turbine Capital, a Swedish venture capital fund investing in early-stage DeepTech companies in the Nordic region, has announced the final close of its first fund. The fund totals €54 million, or SEK 608 million. DeepTech refers to companies whose products rest on advanced scientific or engineering innovation.
Alongside the close, the fund welcomed a new industrial investor, Mycronic. It joins Saab, Scania, Volvo Cars and Stena, as well as a number of industrial family offices and private investors.
The announcement highlights the fund's aim of connecting Nordic startups with industrial leaders, several of which are among its backers.
