Despite challenging investment times: Propel Capital VI succeeds to raise capital as planned

Back to overview

35 experienced business angels contribute SEK 15.5 million, matched by SEK 14.5 million from the anchor investor Saminvest, in Propel Capital’s latest addition Propel VI. Propel Capital, Sweden’s most active private investor in tech companies, in collaboration with accelerator Sting, has since its start in 2014 invested in over 175 companies.

Despite tough times on the stock exchange, interest was high, and Propel Capital VI was able to close as planned. Propel Capital invests in early-stage startups addressing important challenges especially within Sustaintech, Healthtech, Deeptech, and Digital innovation sectors.

One of Propel Capital’s success factors is the carefully selected composition of business angels. Out of the 35 investors in Propel VI, 24 have been in previous rounds of Propel, and 11 new angels have joined Propel VI

The venture capital company Saminvest is once again the anchor investor, which enables continuity and further strengthening of the ecosystem and business life in this region.

Another factor is the great follow-up investment activity from the angels and so far, over 50% of all Propel’s companies have attracted a follow-up investment from the business angels.

“It was incredibly important to close Propel VI, in a season where the rest of the world is on shaky ground. With such uncertain economic times, it feels good to be able to offer the companies in our programs an advanced investment as well as access to very interesting follow-up investors. It’s also very exciting that so many of our old propel angels together with anchor investor Saminvest, choose to join again. That, in combination with so many new exciting investors, is incredibly valuable to us. It’s a strong network, which is meaningful to our entrepreneurs to connect with.” – Pär Hedberg, CEO at Sting

Saminvest is a venture capital company that invests indirectly and together with private capital. By investing in new funds managed by teams with sufficient qualities and a long-term perspective, Saminvest contributes to developing the Swedish venture capital market. In this way, Saminvest contributes to giving innovative and fast-growing companies access to both capital and ownership expertise. The efforts should lead to the development and renewal of Swedish business life.

Sting is an accelerator for startups. We are a non-profit organisation, owned by a public-private foundation. This makes them an independent, founder-centric player who always acts based on what’s best for your startup. Sting is celebrating 20 years this year! Since 2002, they have supported hundreds of promising Stockholm-based startups. As a non-profit organisation there is no hidden agenda, and they always do what’s best for their companies.

Sting has also taken an active part in developing several key components of the startup ecosystem in Stockholm and Sweden for almost 20 years.

 

Click here to learn more.

Patrons