Scania launches new SEK 2 billion venture capital fund together with East Hill Equity

Scania’s new SEK 2 billion venture capital fund, Scania Growth Capital II, will
continue its predecessor’s focus on the most attractive companies and entrepreneurs
in the B2B tech space. The objective is to provide a comprehensive investment
experience for founding teams. The fund will provide support through an agile and
experienced investment team, while also providing the access to market and
technology expertise of Scania, a multinational company that is a leader in its

Scania Growth Capital was set up in 2016 and invested in nine companies through
the Scania Growth Capital I fund. Its funding initiatives include the seed investment in
the unicorn sennder GmbH, in 2017. A unicorn is a startup company with a value of
over $1 billion.

Now that Scania Growth Capital I has been fully deployed, its successor Scania
Growth Capital II will invest broadly in B2B tech such as software, products, solutions
and services within mobility, connectivity, autonomous, electrification, smart factory
and sustainability. It will target entrepreneurial companies with a unique product or
service offering in areas where the fund can inject not only capital but bring other
added value.

“What we have learned is that it is essential for Scania to collaborate with smaller
companies and initiatives that have the greatest potential to support our continued
development and growth. We have also seen that the venture businesses can benefit
from our broad and deep industry knowledge,” says Gustaf Sundell, Executive Vice
President and Head of Mobility Solutions at Scania.

Scania Growth Capital II will be managed by East Hill Equity, a company with
extensive experience from venture capital investments in the B2B environment. East
Hill Equity has offices in Stockholm and Berlin.

“In order to attract the most interesting companies and strongest teams, a successful
venture capital fund needs to provide value to its portfolio companies beyond capital,
and needs to be centered around the needs of entrepreneurs. Our ambition is that our unique set-up, together with Scania, provides a best-of-both-worlds experience for entrepreneurs,” says Christian Zeuchner, Partner at East Hill Equity.

“Having seen the development of Scania Growth Capital since 2016, we now want to
accelerate this successful initiative. The insight for Scania in new relevant areas
beyond our current core business, and the mutual beneficial collaboration with
innovative tech-companies in adjacent areas, is a true formula for success; especially
so in this dynamic time requiring new ways of working in our market,” says Christian
Levin, CEO and President of Scania.