New life sciences fund created  

2002.06.17
Medicon Valley Capital joins forces with major Swedish pension fund in life sciences initiative

Daily broadsheet Jyllands-Posten has reported that one of Sweden's largest pension funds, Sjätte AP-Foundation and the venture foundation Medicon Valley Capital, which is owned by Danske Bank, Novo A/S and Sparbanken Finn, have together put DKK 1.7 billion (USD 204 million) into a new venture fund, Scandinavian Life Science Venture (SLS Venture), of which DKK 650 million (USD 78 million) is fresh capital for new investments.

 

Medicon Valley Capital is shifting its existing investments in the biotech, medico and pharmaceutical industries into SLS Venture. The aim of the initiative is to create a strong new competitor to the existing venture capital companies in the Nordic life sciences market. SLS Venture foresees mergers with other Nordic venture capital funds to create strong local investors and thereby seek to optimise ROI.

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