Sweden-based commercial vehicle manufacturer Scania has established a corporate venturing fund called Scania Growth Capital in order to invest in strategically relevant companies.
Founded in 1891, Scania specialises in heavy commercial vehicles such as trucks, buses and coaches as well as connected vehicle technology and automotive financial services. Germany-headquartered automotive group Volkswagen is its majority shareholder.
Scania Growth Capital will provide funding for developers of technology related to the move toward sustainable transport systems. Possible areas of interest include digitalisation, autonomous vehicles, connectivity, hybridisation, renewable fuels and smart manufacturing.
Lars-Olof Gustavsson, co-founder and chairman of Sweden-based venture capital firm Four Seasons Ventures, has been appointed chairman of the unit, with Daniel Wedberg, senior vice-president and head of corporate management and venture business, as managing director Scania Growth Capital.
Gustavsson said: “In the ongoing technology shifts, it will be essential to select and collaborate with the companies and initiatives with the greatest potential to support Scania’s continued development and growth.
“I am looking forward to working with Scania Growth Capital in attracting the most strategic and promising companies to partner with Scania.”
– Photo courtesy of Scania AB