# Andra AP-fonden

> Andra AP-fonden is a VC fund in Göteborg backing Manufacturing and Electronics. See 7 investments, check sizes, portfolio. Updated Aug 2026.

- Type: VC Fund
- Location: Göteborg, Sweden
- Total investments: 7
- Last investment: May 2026
- Lead investor: 14%
- Last updated: Aug 2026
- Website: http://www.ap2.se/

Andra AP-fonden is a Second Swedish National Pension Fund.

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Manufacturing | 3 | 43% |
| Electronics | 2 | 29% |
| Mining | 1 | 14% |
| Retail | 1 | 14% |
| Battery | 1 | 14% |

17 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Post-IPO Equity | 4 | 57% |
| Funding Round | 1 | 14% |
| Private Equity | 1 | 14% |
| Venture - Series Unknown | 1 | 14% |

### Country

| Country | Investments | Share |
| --- | --- | --- |
| Sweden | 5 | 71% |
| Denmark | 1 | 14% |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Vertiseit | Vertiseit is a Retail Tech company with focus on Digital In-store solutions. We meet new customer expectations by integrating the digital experience with the physical. Supporting the customer journey in a seamless experience of the brand. We add energy, passion and commitment to every digital in-store solution. With great pride we evolve ourclients’ businesses and we’re in it for the long run. | $19.1M | Post-IPO Equity | May 20, 2026 |  |
| Stegra | H2 Green Steel helps to build a large-scale steel factory based on a fossil-free manufacturing process targeting large European OEMs.The plant will be built in northern Sweden, in Boden, offering unique conditions for cost-competitive fossil-free steel production. The project includes a giga-scale green hydrogen plant as an integrated part of thesteel production facility. Production will begin in 2024 and by 2030, H2GS will have an annual production capacity of five million tons of high-quality steel. | $329.1M |  | Jan 22, 2024 |  |
| Stegra | H2 Green Steel helps to build a large-scale steel factory based on a fossil-free manufacturing process targeting large European OEMs.The plant will be built in northern Sweden, in Boden, offering unique conditions for cost-competitive fossil-free steel production. The project includes a giga-scale green hydrogen plant as an integrated part of thesteel production facility. Production will begin in 2024 and by 2030, H2GS will have an annual production capacity of five million tons of high-quality steel. | $326.4M | Private Equity | Jan 22, 2024 |  |
| Swedish Logistic Property | Swedish Logistic Property (SLP) specializes in the development and management of logistics properties across Sweden. With a focus on energy efficiency, SLP provides modern logistics solutions tailored to meet the needs of various businesses. The company's portfolio includes strategically located properties designed to support efficientlogistics and supply chain operations. SLP also engages in the acquisition and development of new properties, aiming to expand its footprint in the logistics real estate market. The company's commitment to sustainability is evident in its construction practices and the operation of its logistics facilities. | $53.1M | Post-IPO Equity | Nov 29, 2023 |  |
| Sivers Semiconductors | Sivers Semiconductors is a renowned supplier, publicly traded under SIVE. The wholly owned subsidiaries Sivers IMA and CST Global develop, manufacture and sell cutting-edge chips, components, modules, and subsystems based on proprietary advanced semiconductor technology in microwave, millimeter wave and optical semiconductors. Headquarters inStockholm, Sweden. | $150M | Post-IPO Equity | Apr 04, 2023 |  |
| Northvolt | Northvolt develops sustainable lithium-ion batteries in conjunction with R&D, industrialization, and recycling to support clean energy. It provides electrification and renewable energy storage designed for lithium-ion battery plant to produce batteries for electric vehicles. Northvolt's product is an environment-friendly batterymanufactured with minimal carbon footprint and with recycling technology without compromising with important eco-systems, enabling the auto industry to replace fossil fuels with electricity in an efficient manner. The company aims to establish a supply of sustainable battery cells and systems.In 2016, Paolo Cerruti and Peter Carlsson headquartered the company in Stockholm, Stockholms Lan. | $2.8B | Venture - Series Unknown | Jun 09, 2021 |  |
| Saniona | Saniona is a research and development company with low burn rate, a world class team and high ambitions. | $65M | Post-IPO Equity | Aug 10, 2020 |  |

7 of 7 investments shown.

## Co-investors
- [Fourth Swedish National Pension Fund](https://shizune.co/investors/profile/fourth-swedish-national-pension-fund) — VC Fund, 3 deals together
- [Altor](https://shizune.co/investors/profile/altor-equity-partners) — VC Fund, 2 deals together
- [GIC](https://shizune.co/investors/profile/gic) — VC Fund, 2 deals together
- [Hy24](https://shizune.co/investors/profile/hy24) — VC Fund, 2 deals together
- [Just Climate](https://shizune.co/investors/profile/just-climate) — VC Fund, 2 deals together
- [Microsoft Climate Innovation Fund](https://shizune.co/investors/profile/microsoft-climate-innovation-fund) — VC Fund, 2 deals together

## Similar investors

### Similar stage
- [RA Capital Management](https://shizune.co/investors/profile/ra-capital-management) — VC Fund
- [KB Securities](https://shizune.co/investors/profile/kb-securities) — VC Fund
- [Frazier Healthcare Partners](https://shizune.co/investors/profile/frazier-healthcare-ventures) — VC Fund

## FAQ

### What does Andra AP-fonden invest in?

Andra AP-fonden invests primarily in Manufacturing, Electronics and Mining startups, most often at Post-IPO Equity and Funding Round stage. Most of the 7 investments tracked by Shizune back companies in Sweden. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### When did Andra AP-fonden last invest?

The most recent investment recorded for Andra AP-fonden closed in May 2026. Shizune tracks 7 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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