EAST HILL EQUITY
2022/11/29

Scania launches new SEK 2 billion venture capital fund together with East Hill Equity

The new SEK 2 billion fund will continue its predecessor’s focus on the most attractive companies and entrepreneurs in the B2B-tech space. The objective is to provide a best-of-both-worlds-experience to founding teams. The fund will provide support through an agile and experienced investment team, while also providing the access to market and technology expertise of Scania, a multinational company that is a leader in its domain.

Scania Growth Capital II is the successor to the company’s first venture capital fund,
which started in 2016. The new investment vehicle will also be managed by East Hill Equity. Scania Growth Capital was set up in 2016 and invested in nine companies through the SGC I fund. Its funding initiatives include the seed investment in the unicorn sennder GmbH, in 2017.

Now that Scania Growth Capital has been fully deployed, its successor Scania Growth Capital II will invest broadly in B2B tech such as software, products, solutions and services within mobility, connectivity, autonomous, electrification, smart factory and sustainability. It will target entrepreneurial companies with a unique product or service offering in areas where the fund can inject not only capital but bring other
added value.

“What we have learned is that it is essential for Scania to collaborate with smaller companies and initiatives that have the greatest potential to support our continued development and growth. We have also seen that the venture businesses can benefit from our broad and deep industry knowledge,” says Gustaf Sundell, Head of Mobility Solutions at Scania.

Scania Growth Capital II will be managed by East Hill Equity, a company with extensive experience from venture capital investments in the B2B environment. East Hill Equity has offices in Stockholm and Berlin.

“In order to attract the most interesting companies and strongest teams, a successful venture capital fund needs to provide value to its portfolio companies beyond capital, and needs to be centred around the needs of entrepreneurs. Our ambition is that our unique set-up, together with Scania, provides a best-of-both-worlds experience for entrepreneurs,” says Christian Zeuchner, Partner at East Hill Equity.

“Having seen the development of Scania Growth Capital since 2016, we now want to accelerate this successful initiative. The insight for Scania in new relevant areas beyond our current core business, and the mutual beneficial collaboration with innovative tech-companies in adjacent areas, is a true formula for success; especially so in this dynamic time requiring new ways of working in our market,” says Christian Levin, CEO and President of Scania.

For further information, please contact:
Daniel Lagerqvist, Press Officer
Phone: +46 79 050 56 62, email: daniel.lagerqvist@fuzepr.se

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