Conor Venture Partners has raised €46.5 million (£40 million) to invest in early-stage technology companies in the Nordic and Baltic regions.

Conor Venture Partners has raised €46.5 million (£40 million) to invest in early-stage technology companies in the Nordic and Baltic regions.

Jari Mieskonen, managing partner at Finland-based Conor, says the firm’s second fund raised more than its target at its first close, adding that the final close of the fund is expected by the end of the year.

Adds Meiskonen, ‘The technology focus of the new fund remains unchanged, while its geographic reach will be slightly wider. We are looking for world class initiatives to be grown into global success stories.’

Investors in Conor Technology Fund II include the European Investment Fund, state-owned Finnish Industry Investment and two pension funds.

Conor has €700 million under management and focuses on IT, electronics, new materials and optics. Its portfolio includes customer relationship management (CRM) systems provider Aito Technologies, printed circuitry company Imbera Electronics and sports advertising specialist Supponor Systems.