David Sonnek to lead new investment business within Wallenberg Investments AB that will focus on early-stage technology companies

Within Wallenberg Investments AB, a new investment business will be established with a focus on early-stage companies. The new company will concentrate on investing in young Swedish companies based on new technology and science in areas such as software, AI, quantum technology, synthetic biology and data-driven life science where the Wallenberg Foundations have an extensive network and access to deep knowledge.

David Sonnek will be responsible for developing the business and establishing the investment strategy and teams with the goal of creating a portfolio of future companies over time. The investment business aims to build companies for the long run. 
   
Lars Holm, long-time investment manager at SEB, will be Chair of the new company. In this role, he will support David Sonnek in the development of the business. 
   
“We are very pleased that we have recruited such an experienced and respected investor as David. In addition to his long and strong track record in venture capital, David has a genuine interest in technology and relevant sector expertise. This is a natural progression of a more long-term effort and we look forward to building the business over time. We will invest in, own and develop companies that can contribute through their returns to the Wallenberg Foundations’ overall goal of funding basic research and education in Sweden. Financing of technology companies in early phases is something of a scarce commodity in Sweden and the establishment of the new company is thus also consistent with the Foundations’ basic goal of conducting activities to the benefit of Sweden as a country,” says Lars Holm, future Chair of the new company. 
   
“I am both humbled and inspired by the task of building a new investment activity within Wallenberg Investments where we can develop activities to identify new technologies and exciting business concepts with the potential to contribute completely new solutions and products in the long term. The network, knowledge and respect that exists in the ecosystem around the Wallenberg Foundations and the Wallenberg family make my mission feel incredibly exciting and unique,” comments David Sonnek, future CEO of the new company. 

 Photo: SEB

The new investment company will be established during 2021 and investment activities are expected to commence in the autumn. The company will complement and build on the activities that are already closely linked to the Foundations’ research centers which also support researchers with proof-of-concept from projects that demonstrate the potential benefits and commercialization of their research results. 
  
David Sonnek is currently CEO of Industrifonden, an early-stage venture capital fund in Sweden, and he has previously been responsible for the venture capital operations of SEB bank. He has also worked within the Ericsson telecommunications group.   
   
For more information 
Oscar Stege Unger

oscar.stege.unger@wfab.se
Phone: +46 70-624 2059
  
About Wallenberg Investments AB:
Wallenberg Investments AB manages and develops the Wallenberg Foundations' assets. The Wallenberg Foundations' largest assets are the public investment company Investor AB and the private holding company FAM AB. Wallenberg Investments AB's responsibilities include asset management and corporate governance, both in the short and long term.
Wallenberg Investments