Sweden’s Summa Equity closes Fund II at $695.5 mln hard cap

Swedish venture capital firm Summa Equity has closed its Summa Equity Fund II at its 610 million euros ($695.5 million) hard capitalisation.

The fund is backed by an investor base of top-tier endowments, foundations, pension funds, insurance firms and fund of funds including a broad range of traditional and sustainability-oriented investors from the Nordics, Europe, and North America.

Fund II will continue to focus on investments that can outperform and are driven by a tailwind from megatrends such as aging demographics, movement of people, resource scarcity, population growth, climate change, and technology disruption.

With Fund I and II, Summa Equity now manages aggregated capital commitments of approximately $1.2 billion.