20 interesting Nordic deals from the 2020 Xmas holidays
We're back! Hope you had a good relaxing holiday and that you are staying safe from the pandemics.
To get you up to speed, we have created a report including the most important announcements from the Nordic investment ecosystem during the 2020 Xmas holidays.
eEquity announced a new $190M fund
eEquity was founded in 2010 by Magnus Wiberg and Patrik Hedelin, after the two founded and sold Pricerunner and boo.com, respectively, at the end of the 90s. The new fund aims to invest equity tickets of SEK 30-150 million ($3-15 million) in up to 12 European startups - eEquity IV has already made six investments including Son of a Tailor, PS of Sweden, Lavendla or aim'n.
eEquity sold the Refunder and Royal Design stakes
Now that they raised a new fund, the investment cycle of old investments is ending.
eEquity invested via a $4M round in Refunder in 2016 together with Bonnier which was controlling a bigger chunk - and they just sold it for $24M. Not a spectacular return, probably they got their money back.
In Royal Design, eEquity invested in 2012 and had less than 30%, while the other co-investor, Verdane, entered in 2016 controlling about 35% in a company that more than doubled its sales from 2015 to 2020 (SEK 450M to 1bn).
Lub Foods raised money from Capagro and Khosla Ventures
Lub Foods is a great Swedish entrepreneurial story of three guys which in 2014 created out of nothing a range of brands of sustainable tasty and healthy food. The last round puts a value on the company at $90 million and is made to focus on conquering the US market - no wonder that American VC Khosla was part of the deal, together with a bunch of Swedish living already in the US (one of them is the former CEO of McDonald's Ventures)
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