Headlines 2013

VC Firms Help Building the Country

2013-09-03


Venture capital is a good thing seen from an economic perspective, noted Jocaim Tåg, IFN, when speaking at a seminar on "Venture Capitalists Help Building the Country" organized by Timbro. He presented his own and others' research on the venture capital industry. At the seminar Janerik Larsson,presented his book The new industrialists. In addition Gabriel Urwitz, Chairman of private equity firm Segulah and Magnus Agervald, President of ByggMax participated in the presentation.

From left can be seen Joacim Tåg, Gabriel Urwitz, Janerik Larsson and Magnus Agervald, all being part of the seminar panel. Pernilla Ström was the moderator.

 

Private equity firms have been fervently debated for many years.

“The debate about private equity is shamelessly inaccurate” said Janerik Larsson and was supported by Gabriel Urwitz who explained that companies owned by a venture capital firms employs several hundred thousand Swedes and accounts for 7 per cent of GDP, "[Venture capital] is committed owners and we need more of those ". Urwitz explained that traditionally, there are few larger SMEs in Sweden - the companies are either small or really large – though, venture capitalist firms have  in recent decades, at least partially, remedied this deficiency.

Magnus Agervald, ByggMax, spoke about his positive experiences from the years when ByggMax was owned by a private equity firm. He, like other participants, said that the knowledge that VCs provide the companies they own, for an average of five years, is invaluable for companies to grow.

Read Joacim Train research on private equity firms (in Swedish)

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