TIN Fonder, the new provider launched by Carl Armfelt and Erik Sprinchorn, has announced its first fund will be the Core Ny Teknik - a technology fund primarily focused on Nordic investment opportunities.
The fund will focus on long term investments in small and medium sized technology and innovation companies, particularly in areas such as software, health and digital brands, with a further focus on those with strong cashflow and profitability.
TIN Fonder was founded in 2019 by Armfelt and Sprinchorn, who have previous experience at the likes of Brummer & Partners and Swedbank Robur.
They previously managed the Swedbank Robur Ny Teknik - also a technology fund. It returned about 108% over three years, measured in SEK, but made a negative return of -12.5% over the past six months, according to the data available from Swedbank Robur.
Also involved in the launch of TIN Fonder and its new fund is Bure Equity AB, one of the venture capital/private equity businesses (along with Atle) formed in 1992 following the abolishment of the employee or wage-earner funds (löntagarfonder), and which subsequently listed in 1993 on the local stock exchange. Atle was sold to Ratos AB and 3i following clearance by the European Commission on competition grounds in 2001.
Other stakes that Bure has taken in financial services businesses include a 20.1% share in Fondita through its wholly owned subsidiary Bure Financial Services. Helsinki based Fondita runs eight equity funds, with a focus on Nordic small and mid cap equities.