The fund is a spinoff from SEB Venture Capital, will be owned by an SEB foundation and sits on SEK 900M ($97M). SEB contributed with SEK 500M and the rest of the money was provided by a number of Nordic institutions.
Fairpoint is going to be led by CEO Frederick Johansson, who will be supported by three colleagues from SEB Venture Capital - Ulf Lewander, Filip Petersson and Andreas Pennervall. All of them will leave SEB Venture Capital and will be formaly employed by Fairpoint.
Fairpoint Capital aims to invest in B2B companies that develop technology to strengthen industrial competitiveness. The plan is that the fund will be fully invested within five years and thereafter continue developing its holdings for another five years.