The investment team in Selvaag Venture has established an independent venture capital management company under the Incitia Ventures brand.
Incitia Ventures will manage the existing venture portfolio in the venture fund Selvaag Venture Capital AS. Furthermore, Incitia has established its second fund, Incitia Ventures II, which will have a committed capital base up to NOK 300 mill. A first closing has been completed with Selvaag Invest who has committed to be the majority investor in the fund. Later this year, Incitia Ventures II will be open for external investors through a second closing.
Incitia Ventures II will continue the investment strategy from Selvaag Venture Capital – investments in technology based emerging companies primarily in the Norwegian market.
The first investment in Incitia Ventures II is the investment in Phonect AS, the leading Norwegian provider of IP-telephony services to the business segment.