FinTech news in Carolina Brochado category

In the latest development, EQT — the private equity and venture firm based out of Stockholm — is announcing that it has closed a €2.2 billion ($2.2 billion) fund for EQT Growth, which it will be using for investing in European and Israeli founders and startups in areas like enterprise, consumer, health and climate tech, with typical rounds ranging between €50 million and €200 million. Sovereign wealth funds may well be playing a big part here: they have more generally been proving to be strong forces in offsetting current declines, betting when the market is low, with the Saudi state fund recently investing some $7 billion in U.S. stocks; and Norway’s sovereign wealth fund, currently the biggest in the world,  also still looking bullish.) This is the first fund EQT Growth has raised specifically for tech investments, Brochado added, and it stands as one of the biggest first-time growth funds in Europe to date. The fact that the IPO market very much remains closed for the moment gives a company like EQT a foot in the door for providing finance to companies that might have otherwise looked at that kind of exit, either to position themselves as consolidators, or simply to keep scaling on their own steam, at a time when money is harder to come by, and thus needing to be treated more carefully than before.