Karolinska Institute, KTH Royal Institute of Technology and Stockholm University have achieved a first fund close for their joint venture firm, Trio Impact Invest, which will focus on early-stage deep tech startups.
The universities — all of which are based in Sweden’s capital — jointly own Trio Impact Invest through their respective investment subsidiaries, Karolinska Institutet Holding, KTH Ventures, and SU Holding.
Trio Impact Invest’s inaugural fund is also backed by a mandate and co-financing from Tillväxtverket (the Swedish Agency for Economic and Regional Growth) and the European Regional Development Fund.
Commercial vehicles manufacturer Scania Group has backed the fund via its Ventures and New Business unit, as have a range of undisclosed investors from the private sector.
Trio Impact Invest aims to fill a gap in early-stage financing for research-intensive startups. It will maintain proximity to the Stockholm innovation ecosystem to manage risks in a sustainable and long-term way, combining funding with industry expertise, business know-how, and established networks.
The fund can make investments without requiring co-investors to join a round. It has not disclosed how much money has been raised thus far or the target size.
Siimon Vaske , who has been a portfolio manager with KTH Ventures since 2019, is serving as chief executive for Trio Impact Invest.
“We are proud to reach this milestone and open the fund for investments that accelerate Sweden’s most groundbreaking technologies. A warm thank you to everyone who shares our vision and makes this possible.
“With our unique model, we can identify and support promising companies at the very earliest stages, where capital is often scarce, and provide smart, purposeful funding without requiring co-investors.
“This makes us fast and flexible in backing research-intensive companies with great potential, companies that can create solutions with real societal impact and the vision to change the world.”
Siimon Vaske, CEO, Trio Impact Invest
Trio Impact Invest was established in 2023, and the original plan was to begin investing in the first half of 2024. As of the fund’s first close, the firm has yet to invest.
