Technology-enabled businesses

We generally believe that technology is a powerful tool that businesses can use to unlock their full growth and sustainability potential. Technology is therefore also a catalyst for broader economic development, and thus important in order to build a sustainable planet.

The Nordic region has a large and dynamic ecosystem of innovative technology companies. With strong roots in telecommunications starting in the 1880s, the Nordics has produced technology unicorns such as Skype, Spotify and Klarna, implying capabilities to succeed in a global context. Today, start-ups are springing up within the Nordics backed by governmental initiatives, strong research institutions and capital markets

MEGATRENDS

  • Technology Distruption
Tech

Technology-enabled businesses

We generally believe that technology is a powerful tool that businesses can use to unlock their full growth and sustainability potential. Technology is therefore also a catalyst for broader economic development, and thus important in order to build a sustainable planet.

The Nordic region has a large and dynamic ecosystem of innovative technology companies. With strong roots in telecommunications starting in the 1880s, the Nordics has produced technology unicorns such as Skype, Spotify and Klarna, implying capabilities to succeed in a global context. Today, start-ups are springing up within the Nordics backed by governmental initiatives, strong research institutions and capital markets

MEGATRENDS

  • Technology Distruption

Investment Strategy

Given our conviction that technology is a critical enabler for
a sustainable planet, we have selected three areas where we see technology as having a meaningful impact, namely to: Improve health and well-being; Drive sustainable productivity; and Ensure compliance and transparency

SDG 3
SDG 5
SDG 8
SDG 12
SDG 16

Focus

Health and well-being

Problem

The global population is increasing at a rapid rate, and higher longevity is leading to skewed population demographics. This has put a significant cost burden of healthcare on societies. Much of the health problems we see today are work-related issues, and corporations see the need to enhance the health and well- being of their employees.

Solution

The healthcare sector is currently digitally immature, and there is a large potential for adoption of digital solutions addressing patient needs. Software for digitizing HSEQ processes are being developed, helping companies address their HSEQ needs.

Investment Thesis

Technology is a key driver to improve the healthcare sector, and actors are increasingly leaning towards digital solutions. HSEQ is an increasing focus among corporates and governments, and technology is an enabler for enhancing HSEQ processe.

SDG Alignment
SDG 3
SDG 9
SDG 12
SDG 16
Portfolio example

LOGEX Group

EcoOnline

Focus

Sustainable productivity

Problem

In order to reach targets for economic growth, governments and corporations must improve their productivity. It is critical to do so in a way that is not harmful to the environment.

Solution

Technology is a key driver of corporate and governmental productivity improvements. Solutions range from tools for efficient communication, to robotic process automation of repetitive processes.

Investment Thesis

Technology is a key driver of corporate and governmental productivity improvements. Digitization allows for resource improvements and asset optimization, i.e. by letting employees do more productive and value enhancing tasks

SDG Alignment
SDG 3
SDG 8
SDG 9
SDG 16
Portfolio example

Infobric

Pagero

Focus

Compliance and transparency

Problem

An important issue is the lack of compliance and transparency in businesses and governments. The UN estimates for example that the global economy loses approximately USD 3.6 trillion to corruption each year.

Solution

Technology has proved to be highly useful for solving compliance, transparency and data protection issues. Technology is thus an enabler to ensure compliant and efficient institutions

Investment Thesis

Increasing regulatory requirements are making it increasingly difficult to be compliant. Trade needs to be more transparent to reduce bribery and corruption. Technology is an enabler for transparency, and there is a strong push towards implementing technology in this segment

SDG Alignment
SDG 3
SDG 8
SDG 12
SDG 16
Portfolio example

Documaster

Infobric

THEME LEAD

Christian Melby

Ever since I was a small kid, I have been curious and interested in technology. I still remember that I got my first computers and learned how to program them. My early days as investor, was right after the dotcom crash and the tech scene in Norway was limited, so my orientation was towards the oil and gas technology and service sector. Over the last 10 years I have focused more and more towards the software and technology sector, and I have done a number of successful investments ranging from complex managed hosting to pure play B2B software companies.

Christian

Our team is generally interested in technology in a broad sense, but at Summa we have defined our technology investment program as “Tech for Good”, which means that we hunt those companies that clearly makes a difference in society. 

  • What do I mean by that? Well, let´s take a couple of examples from our portfolio. EcoOnline provides a software that helps companies to manage chemicals in a safe way, Pagero helps governments and businesses in their programs for more compliant invoicing and VAT collection and Infobric supports compliant and safe construction sites. All companies invest large amounts annually to create the best products available in their relevant markets.
  • What we don´t invest in? I guess the more obvious examples would be technologies that supports harmful industries like weapons, betting and typical high pollution industries. 
  • What fascinates me with the tech industry as an investor? I think there are many aspects, but the most important is that the industry attracts some of the best talent there is, which gives us a chance to work with amazing entrepreneurs and management team. I also like the fact the new markets are created as business process are being digitalized, which is different from more traditional industries where scaling is more about outcompeting old competitors. These companies are often more scalable also by nature given their business and delivery models. As a curiosity, I must also admit that I like the nature of the KPIs and mathematical relationships to operational models, that one often can see in software companies.
  • My strength? I think it is my combination of curiosity, listening skills and empathy. I connect well with people and I think generally CEOs, founders and management team enjoy working with me. I am very people centric in my investment and management style.

Read more about Christian here.