Venture V, whose limited partners include the European Investment Fund, will invest in spinouts from Sintef and NTNU.

Research organisation Sintef has launched a Nkr500m ($61m) seed fund called Venture V aimed at local research commercialisation.

Sintef has injected $13.5m into the fund through its venture capital arm, Sintef Venture, while the EU-owned European Investment Fund (EIF) has committed $19m. Norway’s municipal pension fund Kommunal Landspensjonskasse (KLP) has provided $9.3m.

Backers also include Reitan Kapital, the corporate venturing arm of retail group Reitan, diversified conglomerate Orkla, financial services firm SpareBank1 SMN’s Invest subsidiary, charitable foundations Gjensidigestiftelsen and Sparebankstiftelsen,…