Nysnø invests in the newly established Norwegian venture fund Sandwater

Stavanger 13 June 2022 - Sandwater Fund I will make sustainable, early-stage investments in resource efficiency, health, and climate technology in the Nordics. The fund has so far raised NOK 650 million from investors such as Nysnø, Canica, Lærdal, LGT and the Høegh family.

Investments in Norwegian early-stage companies are higher than ever. Nevertheless, several growth companies find it difficult to raise capital for commercialisation. Sandwater will contribute to closing the capital gap in the Nordic region and secure new sources of capital that provide opportunities for sustainable innovation and technology development.

Sandwater consists of a team with extensive experience from business development and investments and was formally established in 2021, having invested in companies since 2016. The fund is building an interesting ecosystem of investors, co-investors, incubators, accelerators, and external experts, and will provide experience, network, and venture capital to stimulate a growing Norwegian venture environment.

"Sandwater is an exciting newly established fund with focus on sustainable early-stage technology investments. Their main focus is on Norway and the Nordic region, and they will contribute to strengthening the ecosystem for investments in growth companies," says Lars Hvam, Investment Director at Nysnø.

"The Sandwater team has extensive relevant experience and a strong network that will come in handy when new sustainable growth companies are to be recapitalised and further developed. With this investment, Nysnø helps to support a newly established fund with a clear climate profile in Norway, strengthening the ecosystem around Norwegian growth companies," Hvam continues.

Sandwater plans to invest in companies that will solve challenges related to resource scarcity, greenhouse gas emissions, health, and welfare. ESG will be an integral part of investment decisions, and the fund will set clear sustainability milestones for the companies after investment. The fund has already invested in six companies.

“We believe it is a good time to invest in young companies with new technology that can help solve the biggest challenges we have within climate, resource scarcity and health. More than ever, capital must contribute to bring out the best companies with profitable business models that can deliver something positive that matters. We are very happy for the trust and cooperation with Nysnø and other quality investors who will be with us on this journey moving forward”, says Tom Even Mortensen, Partner at Sandwater.

Investors who have previously joined the fund are Canica, Lærdal, the Høegh family, LGT, og many other experienced actors within private equity og venture capital.

Contact

Tom Even Mortensen, Partner, Sandwater – tom.even@sandwater.com, tel: +47 982 29 650

Lars Hvam, Investment Director, Nysnø Climate Investments – lars@nysnoinvest.no, tel: +47 986 84 372

About Sandwater

Sandwater is a newly established venture fund that invests in growth companies with solutions that address some of our most important future challenges, together with dedicated founders and good teams. The goal is that through cooperation, conviction, capital, and networks, Sandwater can contribute to creating future-oriented and profitable companies that make a positive difference. Sandwater currently has around NOK 1.0 billion under management and has a clear thematic strategy centered around impact and a Nordic focus.

www.sandwater.com