Seed and venture investment matching

Mandate

A matching investment entails Investinor investing directly in individual companies in the seed and venture phases together with active Norwegian and overseas private investors, both alone and as part of syndicates. Co-investors shall play an active part in the follow-up of the company. Each investment shall be made on a commercial basis and under the same commercial terms and conditions as the private sector co-investors (pari passu). At least 30% of the investment must be made by a new and independent private investor or a syndicate. A matching investment will take the form of equity or a convertible loan. Investinor shall not have an ownership stake of more than 49% in any company and can invest no more than 49% in the respective funding rounds. The private sector share of the transaction shall be no less than 51%.

Investinor focuses primarily on co-investors and companies that contribute to Norwegian wealth creation. The mandate contains no limitations on the sectors in which Investinor may invest. However, the company shall prioritise investment in sectors with businesses that have potential global competitive advantages, that address the exploitation of key natural resources, that utilise innovative technologies and expertise, and/or that contribute to mitigating the effects of anthropogenic climate change and negative impacts on the environment.

Assessment criteria

• The co-investor(s) are investing in companies that are in the seed and/or venture phase
• The co-investor(s) have extensive expertise in the sector in question, experience with wealth creation by means of active ownership, sound financing capacity and a relevant network
• The co-investor(s) shall play an active part in the follow-up of the company
• The company receiving investment has major market potential and a competent team offering a progressive technology and/or business model
• The co-investor(s) and the company have the willingness and ability to take their corporate social (ESG) responsibilities seriously.
• Investinor focuses primarily on co-investors and companies that contribute to Norwegian wealth creation. There are no limitations on the sectors in which Investinor may invest.
• Investinor will typically invest amounts of between NOK 2.5 and 10 million in the seed phase, and between NOK 10 and 50 million in the venture phase

Process:

For inquiries regarding investment opportunities, please use this contact form on our website. For general inquiries please click here.

1. If the co-investor and the company meet the assessment criteria, Investinor will invite the co-investor to a telephone or videoconference call during which an initial investor presentation will be made.
2. If, after the first call, Investinor wishes to continue with the process, the co-investor will be invited to a more detailed review.
3. If the co-investor progresses further, a thorough review (due diligence process) will be carried out. On the basis of an overall assessment, Investinor will then judge which companies will continue to the decision stage.
4. This process is handled by Investinor, which will then take the final decision as to whether it will match the relevant investor(s) in the company in question.

Investinor – what we do

Investinor aims to be a reliable and attractive long-term investor offering capital investment, expertise and networks. We intend to achieve commercial returns on our matching investments. By means of investment matching, Investinor intends to contribute to the effective ownership of Norwegian growth companies.

Investinor shall actively identify sound private sector matching investors with whom we can co-invest in attractive companies. A shareholders’ agreement under commercial terms shall be drawn up. Investinor shall ensure that an agreed development plan is drawn up for the company, and that effective reporting and investment monitoring procedures are put in place. Investinor places significant emphasis on ensuring that the co-investors and the company have the ability and willingness to discharge their social (ESG) responsibilities seriously and to exercise good business practice.

Investinor shall receive quarterly reports from the portfolio company and its co-investor(s). Ownership meetings with the co-investors and the company shall be held as and when required. Investinor may appoint a Board member or an observer onto the Board of the portfolio company, or a member of its nominating committee. Investinor will conduct a continuous evaluation of whether we can contribute with more than just capital, for example via the Board or by means of more active monitoring of the companies.