Scania launches corporate venture capital fund
Scania launches 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, says: “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,” says Gustavsson. “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. For more information on investment criteria please see scania.com/group/en/investment-criteria
For further information, please contact:
Karin Hallstan, Public Relations Manager Scania, phone + 46 76 842 8104,
Daniel Wedberg, Senior Vice President, Head of Corporate Management and Venture Business, and Managing Director Scania Growth Capital, email email@example.com
For investment related inquiries, please contact the investment team directly via the webpage www.scania.com/scaniagrowthcapital.
Scania is a part of Volkswagen Truck & Bus GmbH and one of the world’s leading manufacturers of trucks and buses for heavy transport applications. Scania is also leading provider of industrial and marine engines. Service-related products account for a growing proportion of the company’s operations, assuring Scania customers of cost-effective transport solutions and maximum uptime. Scania also offers financial services. Employing some 44,000 people, the company operates in about 100 countries. Research and development activities are concentrated in Sweden, while production takes place in Europe and South America, with facilities for global interchange of both components and complete vehicles. In 2015, net sales totalled SEK 95 billion and net income amounted to SEK 6.8 billion. Scania press releases are available on www.scania.com