Almi Invest hires manager to VC fund

Alex Molvin has worked as both an investment manager and a chief executive officer in his portfolio career

Swedish investment house Almi Invest has recruited a new portfolio manager from the board of environmental engineering company Gullberg & Jansson.

Alex Molvin joined as a lead fund manager on 5 June, based at Almi Invest’s offices in Lund, Sweden.

Molvin worked most recently as chief executive officer and board member at Gullberg & Jannson, having been appointed to the CEO role in 2012 and led the company’s IPO. He joined the business back in 2005.

Prior to that he worked as CEO of listed private equity group Capilon and an investment manager at Itact AB, a venture capital fund supported by a host of institutional investors, including Skandia. He holds a master’s degree in Business, Economics and Marketing.

“I am very much looking forward to returning to the venture capital industry. The ecosystem in region has matured and developed in the past three years,” Molvin said. “My ambition is to continue to invest in promising start-ups, with strong teams that can build innovative growth companies.”

The boutique Swedish fund management group has around SEK 3bn (£250m) in assets under management invested across renewables, cleantech, life sciences and disruptive technologies.

Mikael Karlsson, chief executive officer of Almi Invest said Molvin will be a great addition to the company.

He said: “I am delighted that Alex is taking the role of fund manager. He has extensive experience working in both start-up and listed companies and as an investor, which is the perfect combination for the fund manager role.”

Previous investments by the Almi Invest South fund included stakes in cancer drug group Alligator Bioscience and cancer research group Immunovia as well as medical treatment group Triomed.