TLDR:
– Oslo-based VC firm Sandwater has closed its venture fund at €123.2 million ($147 million), making it one of Europe’s largest first-time venture funds of 2023.
– The fund will focus on early-stage companies addressing global challenges in climate, energy, and healthcare, with €44 million ($52.5 million) already invested in 13 companies.
– Sandwater aims to bridge the funding gap for technologies scaling up from pilot to commercial scale, particularly in climate and health innovations.
Norwegian VC firm Sandwater has announced the successful final close of its venture fund at approximately €125m. The fund, which exceeded its target, will focus on early-stage companies addressing global challenges in climate, energy, and healthcare. Sandwater has already invested €44m in 13 companies and plans to invest the remaining €79m in impact-aligned, early-stage ventures. The fund aims to bridge the funding gap for technologies scaling up from pilot to commercial scale, particularly in climate and health innovations.
