According to the company, the fund will offer assistance through a flexible and knowledgeable investment team in addition to providing access to Scania’s market and technical know-how.

Christian Levin, President and CEO of Scania, says: “Having seen the development of Scania Growth Capital since 2016, we now want to accelerate this successful initiative. The insight for Skåne in new relevant areas beyond our current core business, and the mutually beneficial cooperation with innovative tech companies in adjacent areas, is a true formula for success; especially in this dynamic time that requires new ways of working in our market.”

What can be expected from the new fund?

Scania Growth Capital was founded in 2016 and has invested in nine companies through the fund Scania Growth Capital I. Its financing initiatives also include Seed investments in German unicorn Sennder GmbH in 2017.

Scania Growth Capital II will make extensive investments in B2B technology, including software, products, solutions and services related to mobility, connectivity, autonomy, electrification, smart factories and sustainability. It will target innovative companies in industries where the fund can provide not only capital but also other forms of added value.

Gustaf Sundell, Executive VP and Head of Mobility Solutions at Scania, says: “What we have learned is that it is essential for Scania to collaborate with smaller companies and initiatives that have the greatest potential to support our continued development and growth. We have also seen that venture companies can benefit from our broad and deep industry knowledge.”

East Hill Equity, a firm with significant expertise in managing venture capital investments in the B2B market, will be responsible for the management of Scania Growth Capital II. East Hill Equity has offices in Stockholm and Berlin.

Christian Zeuchner, partner at East Hill Equity, says: “To attract the most interesting companies and strongest teams, a successful venture capital fund must provide value to its portfolio companies beyond capital and must be centered around the needs of entrepreneurs. Our ambition is that our unique set-up , together with Scania, gives entrepreneurs the best experience of both worlds.”

“Drive the transition towards a sustainable transport system”

Scania claims to be a world-leading supplier of transport solutions, including trucks and buses for heavy transport, combined with an extensive range of product-related services. It also offers vehicle financing, insurance and rental services to enable its customers to focus on their core business. Scania is also a leading supplier of industrial and marine engines.

Scania’s goal is to drive the transition towards a sustainable transport system, to create a world of mobility that is better for companies, society and the environment. It looks to achieve a 20 percent reduction in CO2 emissions from products during the user phase by 2025, with 100 percent in 2015 as a baseline. From 2015 to 2020, the reduction is 4 percent.