Stockholm/ Munich — EQT has announced the closing of EQT Ventures Fund III with total commitments of € 1.1 billion. This makes the fund the largest European fund to date focused on investing in early-stage European and North American technology start-ups.
The fund, which includes a variety of European, North American and Asian institutional investors, foundations and endowment funds, will make investments of EUR 1–50 million in founder-led startups that are using technology to try to solve some of society’s biggest challenges.
With EQT Ventures III, the EQT Ventures funds have committed a total of EUR 2.3 billion since their launch in 2016. EQT Ventures funds have made over 100 investments, nine of which have reached a valuation of more than EUR 1 billion and 18 of which have been sold. EQT Ventures III has led investments in 13 companies, including June, Nothing, Knoetic and Candela.
EQT Ventures III and EQT Growth together raise EUR 3.5 billion in new commitments to invest in early and growth-stage technology companies, reinforcing EQT’s position as a leading technology investor.
The closing of EQT Ventures III for EUR 1.1 billion follows the recent closing of the EQT Growth fund with total commitments of EUR 2.4 billion.