Investor Growth Capital’s (IGC) roots extend back to mid-nineteenth century Sweden when André Oscar (A.O.) Wallenberg left behind his life as a sailor to pursue a career in banking. In 1856, his entrepreneurial dream was brought to life when he established Sweden’s first private bank, the Skandinaviska Enskilda Banken (SEB). Recognized as Sweden’s first venture capitalist and noted for his innovative thinking and commitment to society, it was A.O. Wallenberg’s vision that fostered the development and growth of numerous Swedish companies during the industrial revolution.
In 1916, Investor AB was formed to manage SEB’s portfolio of industrial holdings. Investor began to expand the portfolio through the 1920s and 1930s, most notably with the acquisition of the bankrupt pharmaceutical company Astra, purchased from the Swedish government for the nominal sum of one Swedish Krona, and a substantial ownership position in the telecommunications company Ericsson, which Investor rescued from financial distress. Over the ensuing decades, Investor continued to guide the development of these and several other companies with a steadfast commitment to R&D and strategic expansion into new geographies and product markets. By architecting transformative events such as the merger of Astra with Zeneca and ASEA with Brown Boveri, Investor gained a reputation for building global leaders. After almost a century, Investor has built an enviable international network and become the largest listed industrial holding company in Northern Europe with substantial ownership in a number of global corporations including AstraZeneca, Ericsson, ABB and NASDAQ OMX. Learn more about Investor AB.
Investor AB established IGC in 1995 to organize and expand the venture capital activities of the company. Fifteen years later, IGC has invested more than $3.0 billion in over 250 companies globally. Most recently, in 2011, IGC became an independent firm headquartered in New York with Investor AB as its sole limited partner and, in 2014, changed its new investment focus from expansion-stage venture capital to larger, ($200m – $800m of equity per transaction), long-term majority-owned private equity investing. Contact Us for more information.
Today, after 150 years and five generations of building and developing companies, the original drive and business philosophy of A.O. Wallenberg are still reflected in IGC’s core values.