Investinor’s fund closed for new investments, will instead get funds to make seed and early stage investments. Investinor made half of the VC investments in Norway in 2015.

In its budget proposal for 2017, the Norwegian Government proposes sweeping changes to Investinors investment mandate. However, this will not affect the existing portfolio companies.

In brief, Investinor’s owner and sole investor, the Norwegian Government, proposes that Investinor will stop making new co-investments with venture capital funds, typically B, C and D-rounds.

The existing MEUR 470 fund will be closed for new portfolio companies, and the Norwegian government will instead provide new funds for Investinor to match seed investments with business angels and fund of fund investments in early stage micro funds.

The government’s proposal will have no consequences for the existing portfolio. The companies that Investinor already has stakes in, will be developed and divested as before, with maximum return on investment. Exit plans remains unchanged and Investinor’s capital base is sufficient to support these companies with all necessary follow-on investments.

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