Venture Capital Statistics 2022 (Tillvaxtanalys (Swedish Agency for Growth Policy Analysis))

Summary

• Total formal venture capital investments in Swedish portfolio companies reached SEK 10.3 billion in 2022, up from 9.9 billion in 2021.p.5
• Swedish private funds invested SEK 4,793m (+21%), foreign funds invested SEK 4,787m (-12%), and government funds invested SEK 710m (+25%) in 2022.p.7
• The ICT sector was the largest recipient of VC investments in 2022, accounting for 4,646 mkr or 45 percent of total investment volume.p.6
• Cleantech VC investments reached SEK 1,904 million in 2022, representing an increase of SEK 994 million from 2021.p.8
• In 2022, 113 portfolio companies (33 percent) received venture capital funding for the first time.p.8
• Portfolio companies located in metropolitan municipalities received 95 percent of the total VC investment volume in 2022.p.8

Key insights

1. Total venture capital volume invested in Swedish portfolio companies increased by 3 percent from 9.9 billion in 2021 to 10.3 billion in 2022.p.5
2. Swedish private VC funds increased their investments by 21 percent to SEK 4,793m in 2022, driving overall investment growth.p.7
3. Foreign VC funds reduced their investments in Swedish portfolio companies by 12 percent in 2022 to SEK 4,787m.p.7
4. Investment volume in the launch phase grew substantially, with 1 445 mkr more invested in this stage in 2022 compared to 2021.p.5
5. The top three sectors—ICT, Life Sciences, and Business and Industrial Products—accounted for 83 percent of total VC investments in 2022.p.7
6. Cleantech VC investments more than doubled their 2008 peak, reaching a historic high of 1 904 mkr in 2022.p.6
7. Small enterprises with 10–49 employees attracted the largest share of VC funding in 2022, receiving 3,587 mkr (35 % of total volume).p.22