Propel Capital raises its investment in Sting companies to SEK 500 000
Propel Capital, the investment company linked to Sting, increases the sum of its investments in the Sting companies from SEK 400,000 to SEK 500,000 to give the startups more leeway to grow before the next round of financing.
Propel Capital is backed by a group of experienced business angels and invests in a selection of companies that are accepted to Sting. In addition to the investment itself, the companies also get access to the business angels’ networks and knowledge.
We are in a challenging time, with a lot of uncertainty about how the opportunities for raising capital in the earliest stages will develop. Against this background, we are pleased to be able to increase the investment amount from Propel Capital to give our companies more time to build their companies before they bring in additional private capital.Maria Ljungberg, CEO of Propel Capital
Propel Capital V is backed by business angels who have invested SEK 13.8 million and state-owned Saminvest who have invested SEK 11.2 million. Saminvest has also set aside SEK 48 million to match selected business angels’ direct investments in the portfolio companies.
With 20-25 investments per year and a total portfolio of almost 140 companies, Propel Capital is Sweden’s most active private investor in the early stages. Many of the business angels in Propel Capital have also invested directly in the portfolio companies.
Companies that are or have been included in the Propel Capital portfolio include Karma, Sellpy, All Ears, Airmee, Bluecall and Klimato.