Launching new $50m Swedish Seed fund in Europe’s Top Unicorn Factory
Backing founders earlier with double the power
- Having built up an exclusive network of 25 alumni from Stockholm School of Economics — DHS Venture Partners — we will proceed with our combined angel network + fund strategy, co-investing alongside seasoned angels. This hybrid model, combining angel network and fund, should allow us to add value with double the power.
- As many investors rush to allocate capital to venture capital, fund sizes grow, increasing competition at later stages, but leaving a gap earlier. We will hence invest earlier than most VCs in the region. Check out my previous post on “The 16 most active VC Investors in Sweden by Investment Stage” — the numbers speak for themselves.
Addressing global opportunities
In our team, we believe entrepreneurship has the ability, now more than ever, to unleash positive change on humanity and the planet. We will focus on these global opportunities in three categories:
- Sustainable Systems — companies using technology for more efficient resource allocation and more sustainable business models such as DHS portfolio company Karma — saving wasted food through easy access
- Better Being — companies offering healthier solutions to humans (and animals) through prevention, lifestyle or medical solutions like DHS portfolio company Pilloxa — helping people not miss their medication
- EmPowered People — companies empowering humans and organizations to make better decisions, freeing up wasted time or increasing privacy and safety such as DHS portfolio company Insurello, helping consumers to get back their insurance money
Backed by Entrepreneurs and VCs as co-investors
Mobilizing expertise and follow-on and co-investing capital are key for an early investor like us. So we’re excited that our new fund is backed by entrepreneurs such as New York-based Kevin Ryan, founder of $8bn database company MongoDB, and Martin Gren, founder of the Swedish unicorn Axis Communications, as well as partners at leading European VC firms, e.g. Johan Brenner at Creandum, Hans Otterling at Northzone, Malin Holmberg at Target Global, and Nenad Marovac at DN Capital.
“We decided to back J12 as we believe that they are well-positioned to fill the early-stage gap in the Swedish market” — says Nenad Marovac, founder of DN capital, previous chair of Invest Europe, the leading VC and PE association in Europe.
Sweden Tech is hotter than ever before
In 2019, Sweden represented 68% of Nordic VC investments according to Pitchbook and in particular, Stockholm has grown into a unique melting pot for technology ventures and claims after Silicon Valley, to be the home to the second most unicorns per capita in the world as well as the largest tech company in Europe, Spotify. Already today, 18% of the workforce work in high-tech related jobs and with now second, third and fourth generations of entrepreneurs from the likes of Spotify, Klarna, King, Truecaller, iZettle, Skype and Cint, experienced tech talent mingles in abundance as never before.
Entrepreneurial and international crew
Behind J12 is serial entrepreneur Bo Mattsson, mostly known for founding Cint (Bought by Nordic Cap in 2016), and an international entrepreneur-trio, Swiss Luca Banderet, Francoswede Alexander Paterson Pochet and Englishman Emmet King. The trio has originally founded J12 in 2014 in the heart of Stockholm, on Johannesgatan 12, and has since co-founded various tech and investment ventures.
Always looking forward. /J12 Crew
