Summa Equity closes its Fund II with SEK 6.5 billion to invest to solve global challenges
Summa Equity announced today that it has raised further capital to continue to invest to solve global challenges. Summa Equity Fund II closed at hard cap with investor commitments of SEK 6.5 billion (c. EUR 610 million). With Fund I and II, Summa Equity now manages aggregated capital commitments of SEK 11 billion (c. EUR 1 billion).
Summa Equity was amongst the first Private Equity firms to commit to the UN Sustainable Development Goals (SDGs), aligning its investment and value creation strategy with the SDG framework.
The announcement of Fund II comes three years after inception of the firm, and Fund I closed with commitments of SEK 4.7 billion (c. EUR 440 million). Fund II will continue to focus on investments that can outperform and are driven by tailwind from megatrends such as ageing demographics, movement of people, resource scarcity, population growth, climate change and technology disruption. Investments are made in companies that solve global challenges, within three investment themes: Resource Efficiency, Changing Demographics and Tech-enabled Business.
Summa Equity Fund I has eleven portfolio companies that are advancing the SDGs. The portfolio has performed strongly to date. By incorporating the SDG framework in shaping the long-term strategy of the portfolio companies, measuring the effect and innovating to address the global challenges, the portfolio has to date shown strong growth and value increase.
Summa Equity Fund II is backed by a strong investor base of top-tier endowments, foundations, pension funds, insurance firms and fund of funds including a broad range of traditional and sustainability-oriented investors from the Nordics, Europe and North America.