Nordic Secondary Fund II makes its third investment in Finland

03 April 2023

Peter Sandberg, the Founding Partner of N2F, is happy to announce that Nordic Secondary Fund II has bought secondaries in Finnish Varjo for approx. € 3 million. Varjo was established in 2016 in Helsinki and is an extended reality (XR) company that operates within the "Immersive Technology" market.

Varjo offers both hardware and software solutions that can be used in various industries. Varjo themselves describe their products as the world's most advanced VR/XR. Varjo produces e.g. VR headsets, which are used in the training of doctors, and which can train complicated operations that would not otherwise be possible.

Varjo's customers consist of more than 1,300 companies in more than 40 different countries, among other customers, i.a. Boeing, Volvo & Lockheed Martin.

In September 2022, Varjo completed its Series-D capital raising, which resulted in a capital injection of DKK 40 million $.

Back in November 2020, Nordic Secondary Fund I also bought secondaries in Varjo, and Peter Sandberg adds, that Nordic Secondary Fund is happy to re-join the cap table, on which top in-class investors like; EQT Ventures, Atomico, and Lifeline Ventures.

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Image credit: Hendrik Morkel/Unsplash; Varjo; N2F

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