A 2,000 square metre office space in central Stockholm where 50 start-ups work side by side has teamed up with London based Balderton Capital who will become part of their “Global Friend”, network of advisors, business partners, mentors and investors.
Sweden is home to start-up mega-success stories like Skype and Spotify and SUP 46, launched in November 2013, is leveraging their success and tapping into a large and diverse talent pool to help foster the success of a new generation of aspiring founders and their teams.
Hub 46 handpicks its members and competition is fierce – particularly across the fields of internet, mobile, media and gaming. The office space comes with its own investor area where start-ups can get to know potential backers from their earliest stages.
Balderton has made numerous investments into Sweden over the past decade and a half, most recently into Instabridge and the management team expect to fly out to Stockholm shortly to meet local entrepreneurs and run investor workshops.
As one of the UK’s most prolific early stage VCs, Balderton have invested into a range of tech start-ups including investment platform Nutmeg, CrowdCube, Lyst, 3D Hubs, Credit Benchmark and Kobalt.
SUP 46 was founded by Jessica Stark, a central figure in Stockholm’s start-up scene having also worked at STING, Stockholm Innovation and Growth business incubator and run her own PR and event management agency; “Balderton has both the interest and focus to contribute to the growth and development of our members, which is what we always look for in our partners”, she says of the partnership.
SUP 46’s sponsors include Cisco, Microsoft, Grant Thornton and NASDAQ and it partners with venture capital firm Creandum, STING, the Stockholm School of Entrepreneurship and a number of other agencies from the private and public sectors.
The Nordic regions are currently enjoying a more than favourable investment climate thanks to a plethora of thriving, early stage start-ups, often web based subscription services like Spotify, or even Salesforce, which are justifying their early stage investor’s faith.
No doubt Balderton, who are believed to have more than $2bn in funding to invest in European start-ups after a $305m raising in April 2014, will be on the look-out for suitable investments and so the future continues to shine brightly for tech start-ups and the Nordic region – closer ties with the London scene and increased knowledge sharing and collaboration can only help underpin further success.