Venture Capital Statistics 2023 – Venture Capital (Tillvaxtanalys (Swedish Agency for Growth Policy Analysis))
Summary
- Total VC investments in Swedish portfolio companies dropped sharply in 2023 to SEK 4.4 billion from SEK 9.6 billion in 2022.p.7
- Swedish private funds invested SEK 2,003 million (-55%), foreign funds invested SEK 1,971 million (-58%), and state funds invested SEK 442 million (-22%) in 2023.p.7
- ICT remained the largest investment sector in 2023, attracting SEK 2,323 million or 53% of total VC investments.p.8
- Life Sciences investments fell to SEK 418 million (9.5% of total VC) in 2023 from SEK 2,209 million (21%) in 2022.p.8
- Cleantech VC investments decreased sharply to SEK 495 million in 2023, down from SEK 1,587 million in 2022.p.8
Key insights
- Expansion phase investments experienced the largest absolute decline in 2023, dropping by SEK 3,638 million compared to the previous year.p.7
- Foreign VC funds represented 45% of total VC investment volume in Swedish portfolio companies in 2023.p.12
- Growth capital investments in Sweden have remained stronger and held a larger relative share compared to early-stage venture capital in recent years up to 2023.p.30
- State-owned Saminvest manages approximately SEK 6 billion in assets and conducts a dedicated business angel co-investment program.p.27
Topics and entities
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