StartupLab announced its third fund, closed at $11.8M.

Norway Connection
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StartupLab, an Oslo, Norway-based accelerator announced the closing of a new investment fund called StartupLab Founders.

StartupLab Founders, which is the third investment vehicle since 2013, was closed at NOK 100M ($11.8M) and is aimed to fund about 50 early-stage tech startups based in Norway.

Investors in the fund include Geir Førre, Sverre Dale Moen, Anne-Lise Waal, Knut Sandven, Erik Bakkejord, Karl Munthe Kaas, Øystein Skiri, Silvija Seres, Patrik Berglund, Erik Fossum and Aksel Lund Svindal.

StartupLab was founded in 2013 and has backed 66 companies out of two funds prior to this. The previous one was announced in September 2016 at NOK 70M.