Nordic businesses get boost with €30 million EIF backing for Swedish private credit fund

• EIF backs Ture Credit Fund III with €30 million as cornerstone investor.
• Ture Credit Fund III will invest in small and medium-sized enterprises in the Nordic region, focusing on software, healthcare, education and environmental services, incorporating social objectives into the financing.
• EIF investment is backed by the InvestEU programme and meets the InvestEU gender diversity criteria.

The European Investment Fund (EIF) has committed €30 million to Ture Credit Fund III, a fund advised by Stockholm-based Ture Invest Partners AB.

The fund aims to close its capital raising in 2024 with a target size of €500 million, focusing on institutional investors.

Ture Credit Fund III aims to support sustainable growth in the Nordic region by providing tailored financing to small and medium-sized enterprises (SMEs) with strong environmental, social and governance (ESG) standards. The fund helps companies drive sustainable growth by setting specific (mainly social) goals, which in turn allow for more favourable financing terms.

“Small businesses need the right financing to grow and contribute to a dynamic European economy,” said EIF Chief Executive Marjut Falkstedt. “Our investment in the Ture Credit Fund III shows our commitment to supporting sustainable and inclusive growth in Europe. This partnership will help small and mid-sized companies in the Nordic region with relevant financial support to succeed.”

The EIF’s commitment is supported by the InvestEU programme, which mobilises investments in support of EU policy priorities such as the green transition. The programme aims to generate more than €372 billion in additional investments between 2021 and 2027. This is the first operation under the InvestEU mandate with a senior private credit fund operating in the Nordic countries.

“We are thrilled to welcome the EIF as an investor in the Ture Credit Fund III,” said Magnus Kihlgren, responsible for international investor relations at Ture Invest Partners. “We firmly believe that access to bespoke financing solutions for SMEs is a key driver of European growth, and we are delighted to have the support of the EIF. Our partnership with the EIF is a testament to the quality of our value proposition as a financial institution and the attractiveness of our offering to both investors and borrowers.”

Background information

The EIF is part of the European Investment Bank (EIB) Group. It supports Europe’s SMEs by improving their access to finance through a wide range of selected financial intermediaries. The EIF designs, promotes and implements equity and debt financing instruments targeting SMEs. In this role, the EIF fosters EU objectives in support of entrepreneurship, growth, innovation, research and development, the green and digital transitions and employment.

The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps mobilise private investments for the European Union’s policy priorities, such as the European Green Deal and the digital transition. The InvestEU programme brings together under one roof the multitude of EU financial instruments currently available to support investment in the European Union, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is implemented through financial partners that will invest in projects using the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment.

Ture Invest Partners AB, founded in 2007, is the leading direct lender in the Nordic region, having provided over 90 loans to SMEs and managing assets of more than €1.4 billion. The funds under management are used to finance corporates across the Nordic region, enabling sustainable growth. With a clear ESG focus, Ture Invest Partners applies bespoke ESG-linked discounts [CM1] to incentivise companies towards a sustainable transition while delivering long-term value and superior returns to its investors. Ture Credit Fund III is compliant with Article 8 of the EU Sustainable Finance Disclosure Regulation.

Press contacts:

EIB Group: Thomas Eriksson | t.eriksson@ext.eib.org
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