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Northvolt: a First for Swedbank Robur Alternative Equity

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Stockholm (HedgeNordic) – Swedbank Robur’s recently launched alternative investment fund focused on unlisted companies has invested $15 million in Swedish battery maker Northvolt, which has just raised $1.1 billion in convertible notes from a group of investors. Swedbank Robur Alternative Equity I was launched in the second quarter of 2022 to invest in unlisted Swedish companies and other Nordic companies.

The $15 million investment in Northvolt through a convertible debt instrument represents Swedbank Robur Alternative Equity I’s first investment since launching in the second quarter. Earlier this week, Northvolt announced the signing of a $1.1 billion convertible note to finance its expansion of battery cell and cathode material production in Europe to support the rapidly expanding demand for batteries. “This financing round is an important part of our continued journey, and we are very pleased to welcome Swedbank Robur Alternative Equity as a new investor in Northvolt,” says Peter Carlsson, the co-founder and CEO at Northvolt.

“This financing round is an important part of our continued journey, and we are very pleased to welcome Swedbank Robur Alternative Equity as a new investor in Northvolt.”

“With the investment in Northvolt, we support a sustainable industrial high-tech transformation to contribute to future-proof Swedish industry and commerce,” comments Henrik Lundh (pictured), Head of Alternative Investments at Swedbank Robur. “We believe in the company’s strong competitiveness today and tomorrow thanks to, among other things, its vertical integration, advanced digitization, modular approach and focus on research and development,” he continues. “Northvolt’s quality and ambition to become a world leader in sustainable battery production is an ingredient in Europe’s transition to renewable energy and will contribute to positive environmental effects globally.”

“With the investment in Northvolt, we support a sustainable industrial high-tech transformation to contribute to future-proof Swedish industry and commerce.”

Swedbank Robur Alternative Equity I focuses on making investments in both established growth companies and other privately-owned companies with a focus on sustainable value creation and transformation. The Swedish-based alternative investment fund for professional investors can allocate between SEK 100 million and 500 million for each investment.

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Eugeniu Guzun
Eugeniu Guzun
Eugeniu Guzun serves as a data analyst responsible for maintaining and gatekeeping the Nordic Hedge Index, and as a journalist covering the Nordic hedge fund industry for HedgeNordic. Eugeniu completed his Master’s degree at the Stockholm School of Economics in 2018. Write to Eugeniu Guzun at eugene@hedgenordic.com

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