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Government boosts Almi Invest’s investment power to bridge crisis in small innovative businesses
Together with the Centre Party and the Liberal Party, the Government is proposing an additional SEK 400 million for Almi Invest. The additional funding is aimed at bridging the crisis in small innovative businesses and avoiding the loss of structural capital and intangible assets in the life science sector and others.
Start-ups and scale-ups often operate on a global market and act as important subcontractors and innovation partners to large sections of the Swedish business sector. They are key parts of current – and particularly future – value chains for many major Swedish and international companies. For many years, Sweden has strategically invested major resources in the form of public research funds and risk capital in what should develop into the next generation of globally competitive, sustainable and innovative businesses.
Today, Almi Invest is part-owner of approximately 350 such growth companies throughout Sweden. The additional SEK 400 million is intended to enable Almi Invest to temporarily take over responsibility for companies in sectors such as life science where it is already a part-owner and where the capital requirement is now increasing due to the COVID-19 pandemic. The funds will also allow the company to continue new investments, which is important as there is a risk that there may be fewer private equity capital alternatives in the future.
The funds supplement the additional SEK 3 billion allocated to the lending activities of the parent company, Almi Företagspartner AB. Taken together, the initiatives provide robust support to a rapidly growing group of businesses with major innovation content that have the potential to become an important part of Sweden’s future business sector.
Press Secretary to the Minister for Enterprise and Innovation Ibrahim Baylan
Phone (switchboard) +46 8 405 10 00