New growth fund designed to attract most strategic and promising companies to partner with Scania
SWEDEN Scania has launched Scania Growth Capital for investments in high-growth companies with strategic relevance to its ecosystem in the transport and automotive industries.
Henrik Henriksson, Scania’s President and CEO, said: “Through Scania Growth Capital, Scania is looking to invest in promising, innovative and entrepreneurial companies. Gaining insight and early access to business models, technology and ideas that can change the environment in which we are active will further strengthen us in the future.”
Scania Growth Capital will be exclusively operated and advised by an external investment team with extensive experience from venture and growth capital business as well as from the automotive industry.
Scania is already active in several partnerships that drive the shift towards sustainable transport systems, both with customers, academia and other tech companies.
This initiative reaches a segment of complementing companies, giving Scania an opportunity to tap into early development and innovation that is industry relevant, but outside its own core operations. It also provides a platform where Scania can contribute with a large ecosystem, as well as broad and deep industry knowledge, which will add great value to the portfolio companies.
Venture capital veteran Lars-Olof Gustavsson has been appointed chairman of Scania Growth Capital and also acts as chairman of the external investment company. “In the ongoing technology shifts, it will be essential to select and collaborate with the companies and initiatives with the greatest potential to support Scania’s continued development and growth,” he said. “I am looking forward to working with Scania Growth Capital in attracting the most strategic and promising companies to partner with Scania.”
Scania Growth Capital will evaluate investment proposals broadly. They may include, but are not limited to, companies with products, solutions or services in digitalisation, autonomous vehicles, connectivity, hybridisation, renewable fuels and smart factory.