Turbine Capital, a new early-stage VC fund focused on DeepTech and initiated by Sting, has secured its first close and is now ready to start investing. With a target of €75 million, the fund aims to support 30-40 cutting-edge DeepTech startups.
Backed by leading industrial corporates, family offices and university-affiliated incubators, holding companies and anchored by Saminvest, Turbine Capital combines capital, corporate access and industrial expertise to accelerate the growth of DeepTech ventures across Sweden.
“When leading corporations and university-affiliated incubators join forces, we create more than just a fund - we build a cross-sector collaboration powerhouse for scaling DeepTech innovations.” says Pär Hedberg, Initiator to Turbine Capital and Founder (and former CEO) of Sting.
Together with Sting, the fund draws strength from its seven Partner Incubators: Ideon (Lund), GU Ventures (Göteborg), LEAD (Linköping), UIC (Uppsala), Uminova (Umeå), and ABI (Luleå) - providing a strong nationwide pipeline of emerging DeepTech startups.
”Turbine Capital is the latest initiative by Sting to strengthen the Swedish startup ecosystem. When we see a gap, we aim to fix it. We’re incredibly excited to see how this fund will contribute to the Swedish DeepTech scene - in close collaboration with our incubator friends from across the country,” says Karin Ruiz, CEO of Sting.
With experienced investors Karin Edström and Anders Ösund as Managing Partners, founding and managing the fund together with Sting and Pär Hedberg, Turbine Capital is designed to deliver real impact for the Nordic DeepTech ecosystem.
Turbine Capital’s Pressrelease
