Nordic bank SEB has established a new division dedicated to investing in venture capital for green technology firms within the region.
SEB Greentech will commence with an initial allocation of SEK 300 million (approximately $34 million) for investments in sustainable startups, with plans to expand this to SEK 1 billion in the future. The unit will focus on companies that innovate technologies aimed at significantly enhancing the efficient use of natural resources and mitigating environmental impacts. This encompasses sectors such as renewable energy, energy storage, agricultural technology, circular business models, and waste management.
The initiative will be led by Markus Hökfelt, who joins from Almi Invest, where he managed a similar green fund. He will work alongside a Greentech Investment Committee and an external advisory board.
Johan Torgeby, President and CEO of SEB, emphasized the bank’s commitment to supporting a sustainable transition. He stated, "It is essential for emerging greentech companies to secure funding at an early stage, enabling them to develop technologies, products, and services that benefit society, our clients, and our shareholders."