Sweden's Trill Impact has made its first venture fund a success with the final close of its $90 million fund.
The fund, the first of its kind in Europe, was backed by institutional investors across Europe, with financial services group Nordea and Swedish state-owned venture capitalist Saminvest being the biggest investors, reports Quartz.
The fund is investing in life sciences and green tech companies developing solutions to future health and environmental challenges.
The portfolio companies include Open Cosmos, a European producer of small satellites, and Cinclus Pharma, a Swedish clinical-stage pharmaceutical company focused on the development of a novel treatment for gastroesophageal reflux disease.
"The fundraising environment for venture capital has been undeniably challenging lately, with a cautious sentiment and lower risk appetite across markets," says Johanna Levander, partner and head of investor relations at Trill Impact Advisory.
"We are therefore extra proud to have completed this fundraise while at the same time building a portfolio of what we see as very promising scale-ups."
Trill Impact has raised more than $1.3 billion since it was founded in 2019 and has invested in three categories: impact private equity, impact ventures, and impact ventures. Read the Entire Article
A customized collection of grant news from foundations and the federal government from around the Web.
Jim Fruchterman founded the now 24-year-old social enterprise Benetech, a nonprofit tech company that focuses on developing technology for social good. Fruchterman has also launched a new initiative called Bookshare, which is a membership-only crowdsourced  online library for people with disabilities.