Swedish truck maker Scania AB is launching a new $189.5 million (SEK2bn) venture capital fund, Scania Growth Capital II which, like the firm’s first VC fund, will be managed by East Hill Equity.
The new fund will continue its predecessor’s focus on companies and entrepreneurs in the B2B tech space.
Scania’s first VC fund was set up in 2016 and has since invested in nine companies, including a seed investment in the German unicorn sennder GmbH, in 2017.
With Scania Growth Capital I now fully deployed, Fund II will invest broadly in B2B tech including software, products, solutions and services within the mobility, connectivity, autonomous, electrification, smart factory and sustainability sectors.
