According to Svenska Riskkapitalföreningen (Swedish Venture Capital Association) Swedish venture capitalists invested 74 million SEK in 11 Internet technology companies in the second quarter of 2007. That is $1 million and change for each company.
To understand how litte that is, consider that Benchmark Capital alone put $8 million (about 50 million SEK) into Power Challenge in early May.
Update October 27th: A good friend who spoke to a few Swedish tech VCs about the number told me that the VCs, based on the their own investments, say the 74 million SEK number is too low.
1 comment:
This is actually pretty hilarious, if it wasn't so tragic.... In the late 90's, they invested tons of cash because they thought they had a clue - today, they don't invest because they know for a fact that they still don't have a clue... ;-)
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