Conor Venture Partners, a Finnish early-stage technology venture capital firm, has held the EUR46.5m first closing of its second early-stage venture capital fund.
Operating from Finland and following in the footsteps of Conor’s first fund, the new fund will invest in early-stage technology centric companies rooted in the Nordics and Baltics.
Conor Technology Fund II investors at first closing include the European Investment Fund, Finnish Industry Investment, Etera Mutual Pension Insurance Company, Veritas Pension Insurance Company and Atine Investment Partners.
“We are very proud to announce our second fund at a size well above its original first closing target,” says Jari Mieskonen (pictured), managing partner at Conor Venture Parters. “While working on final closing of the new fund by the end of the year, we look forward to continue investing in great Nordic and Baltic companies such as Imbera, Supponor, and Eniram in our first fund. The technology focus of the new fund remains unchanged, while its geographic reach will be slightly wider. We are looking for world class initiatives to be grown into global success stories. The strong initial investor pool gives wide grounding to build it up to final closing.”
“We are delighted to participate in Conor’s new fund,” adds John Holloway, director, transaction and relationship management at the European Investment Fund. “We have followed Conor since its establishment in 2005 and our investment is proof of our continuing support for this excellent team. It also fulfils the objective of the EU Competitiveness and Innovation Framework Programme by encouraging the development of entrepreneurship and innovation in the region.”
