Science Park in Jönköping just launched Spectria Invest – a private equity fund investing between SEK 1-10 million in Jönköping growth companies over the coming 10-12 years.
Science Park in Jönköping just launched Spectria Invest – a private equity fund investing between SEK 1-10 million in Jönköping growth companies over the coming 10-12 years.
Why a new venture capital fund, and why now?
– We’ve built trust with investors and other actors for a long time and wish to deepen the collaboration further, says Gustav Österström, CEO at Science Park and initiator of Spectria Invest.
Science Park has seen strong results from previous ventures, he continues:
– And as we’ve identified a gap in the 1-10 MSEK spectrum, it made a lot of sense to start up the new fund.
The third investment fund
Spectria Invest has raised SEK 40 million initially, and forecasts to double the capital in 2018 with a wide range of investors, institutions and collaboration partners engaged.
Investors are Science Park, Wilron Ventures, Emtio Invest, Jönköping Business Development, Jönköping University, Länsförsäkringar Jönköping, Investment AB Chiffonjén and Smålandskapital.
– We’ve really merged the innovation ecosystem, bringing together academia, institutions, regional investors, and individuals with experience in business development and startup investments. Science Park will lead operations, backed by Wilron Ventures, Emtio Invest and Jönköping Business Development, Gustav Österström explains.
Spectria Invest is the Science Park’s third investment fund, with Speed Capital and Jönköping Business Development (JBD) in their record.
How is this one different?
– The difference is that Spectria Invest is a fund, whereas the other two are investment firms. That means Spectria Invest has a set end date, which the others don’t. Also, Spectria Invest is designed to include some of the investors in operations, which we believe will be a strength.
Compared to Speed Capital (investing up to SEK 300 000 in convertibles) and JBD (investing SEK +10 million in later stage startups), Spectria Invest has found a sweet spot in between.
In addition, Jönköping has a unique network of around 100 regional investors.
– This builds the foundation for a 360 offer that we can provide for the local growth companies.
10 000 square meters bigger
Besides the new fund, what’s up at Science Park?
– We continue to establish a full-scale Science Park function in the region, with business developers based in all 13 municipalities. We work hard to maintain a flow of students, entrepreneurs, scientists and established companies, says Gustav Österström.
The Science Park is currently housing around 1000 new ideas and 250 new companies.
– Focusing on established companies has been especially successful. Also, we’re putting a lot of energy into developing the physical space and making it 10 000 square meters bigger, building community, and creating the right conditions for the thousands of people we meet at Science Park every year.
What’s the state of the Jönköping startup scene?
– It continues to grow. The number of innovative companies is increasing along with some financial events and exciting transactions this year, powering the ecosystem a bit extra.
Just looking at the past fall, a number of local startups got acquired by national and international corporates, Gustav Österström explains.
– Spectria Invest aims to support the strategic and financial development of the growth companies in our region, generate profit to the investors, and contribute to local attractiveness as a whole.