With $2.4 billion to work with, Stockholm-based Summa Equity claims to be Europe’s largest impact fund (though its founder isn’t a fan of the term). To date, the firm has amassed a portfolio of no fewer than 23 investments, all linked to the UN SDGs, most of which call Europe home. However, as of today, Suma is turning its focus west, and will be opening an office in Palo Alto, California.
Leading the hunt are Suma partners Tommy Uncuri, Gustavo Salem and Nick Roloffs, who will be joined by several Suma employees, including investment director Anna Ryrberg.
“Summa has never been tied to its Nordic roots in the companies we work with. Our strategy is non-geographic, non-sector and asset class specific. Opening a West Coast office is an extension of this approach: we’re not just looking at US companies, but to attract and engage with some of the world’s leading minds. “We want to work out how we can change,” explained Reynir Indahl, founder and managing partner of Suma Equity. “Today’s interventions are inventions of the past – Suma invests in global change.”
Having cast a very wide investment net, Suma’s next challenge is to find the next healthcare-related startup that meets its strict criteria. According to the company, they “invest in companies that develop innovative and transformative solutions that make healthcare more predictive, preventative, personalized and engaging.
Given Yuncury’s strong background (and board seats) in several health technologies, experience at Salem’s life science equipment and diagnostics companies, and Roelofs’ time at Baxter Healthcare, Applied Biosystems, Stratagene, Bio-Rad, and Agilent, Suma seems to have good eyes and ears. And they have boots on the ground for work.
“Suma’s approach is very unique. As we lead the theme of demographic change at Suma, we are looking for transformative companies that deliver positive outcomes for communities around the world and enable people to thrive, Unkiri commented. “Such businesses often achieve sustainable growth and achieve sustained long-term success, creating value for the general public.”
