Sarsia Seed closes a €33M Bergen-based fund for investing in innovative growth companies in health and energy.

Sarsia Seed Management, a Bergen, Norway-based early stage venture firm, announced closing down a new investment fund totalling €33M ($35.5M - NOK 300M). The fund, Sarsia Seed II, will invest in early-phase technology-companies within life science, clean tech and renewable energy.

Sarsia Seed II was officially launched by The Norwegian Minister of Trade and Industry, Monica Mæland, and it is a 50/50 co-operation between the Norwegian government, represented by Innovation Norge, and private capital, raised from investors.

The Fund will look for NOK 5-20M deals and wants to invest in around 15 companies, expecting to make two investments during the second part of 2017.

This is the second fund of Sarsia, as the first one, Sarsia Seed I, was established in 2007 with a size of NOK 390M and having made investments in 22 companies.