Website maintenance:

We will carry out maintenance on the website for a period to come. We apologize in advance for any problems this may cause. If you are unable to access the website it is probably due to updates. Please try to re-enter the website in 10 minutes time. Sincerely, The Web Development team!

Norway lost NOK 198 million on Investinor

InvestionorEmployees of the Norwegian state owned investment company Investionor. Photo: Investinor / Facebook

Advertisement

The Norwegian state lost NOK 198 million on Investinor in 2018

The state-owned investment company Investinor experiences a loss of NOK 198 million in 2018. Investinor has cost NOK 700 million since its inception, according to Aftenposten.


Investinor was established by the Norwegian Parliament in 2008 to buy shares and to be an active part owner of promising start-ups. The company has received NOK 4.2 billion from the state thus far.

The company has had a cost of NOK 700 million altogether, according to Aftenposten. The company has lost NOK 221 million on its equity investments and has spent NOK 482 million on salaries and operations.

 


 

198 million out the window

Investinor wound up 198 million in the red, last year alone. It has lost another NOK 33 million so far this year. It was granted a total of NOK 250 million extra last year over the state budget.

Interim CEO of Investinor, Tor Helmersen, tells Aftenposten that the results must be assessed in light of the limitations in the mandate of the fund. The social effects are, furthermore, difficult to measure.

“Investinor has not delivered as expected,” Norwegian Minister of Business Affairs, Torbjørn Røe Isaksen (Conservatives), comments.

About Investinor

Investinor AS is a Norwegian state-owned investment company established on 21 February 2008 with the purpose of statutory purpose to contribute to increased value creation by offering venture capital to internationally oriented competitive companies, primarily new establishments. The company has 20 employees. The Head Office is in Trondheim.

Investinor manages NOK 4.2 billion and is owned by the Norwegian state. Ownership is managed by the Ministry of Trade and Industry. The company is a member of the Norwegian Venture Capital Association.

Key information

Norwegian Company Register

Company typeInvestment Company
EstablishedFebruary 21st, 2008
Head OfficeTrondheim
COBThomas Falck
CEOTerje Eidesmo (incoming)
Employees20
Web siteinvestinor.no


© NTB Scanpix / #Norway Today
RSS Feed


Advertisement

Be the first to comment on "Norway lost NOK 198 million on Investinor"

Leave a comment

Your email address will not be published.


*