Scania is launching a new investment vehicle, Scania Growth Capital II, following the success of its earlier venture capital fund, Scania Growth Capital I. The new fund will again be managed by East Hill Equity.
Scania Growth Capital II, Scania’s new SEK 2 billion ($190 million) venture capital fund, will maintain its predecessor’s focus on the most appealing start-ups and entrepreneurs in the B2B digital area. The fund will give assistance through an agile and competent investment team, as well as access to the market and technological knowledge of Scania, a worldwide corporation that is a leader in its field.
Scania Growth Capital II will invest extensively in B2B tech such as software, products, solutions, and services in mobility, connectivity, autonomous, electrification, smart factory, and sustainability now that Scania Growth Capital I has been completely deployed. It will seek entrepreneurial enterprises with a distinct product or service offering in sectors where the fund can provide not just finance but also additional added value.
“What we have learned is that it is essential for Scania to collaborate with smaller companies and initiatives that have the greatest potential to support our continued development and growth. We have also seen that the venture businesses can benefit from our broad and deep industry knowledge,” says Gustaf Sundell, Executive Vice President and Head of Mobility Solutions at Scania.
“Having seen the development of Scania Growth Capital since 2016, we now want to accelerate this successful initiative. The insight for Scania in new relevant areas beyond our current core business, and the mutual beneficial collaboration with innovative tech-companies in adjacent areas, is a true formula for success; especially so in this dynamic time requiring new ways of working in our market,” says Christian Levin, CEO and President of Scania.