New report about the impact of Covid-19 on Norwegian private equity

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Published by Oslo Business Region, 29 September 2020

On behalf of the Norwegian Venture Capital & Private Equity Association (NVCA) and Oslo Business Region, Menon Economics has conducted a study of how Covid-19 and its consequences for the national and global market situation have influenced Norwegian private venture capital. The data presented in the report is based on a survey directed at both buyout and early stage funds located in Norway.

Here are some highlights of the survey:

  • The survey was concluded in the beginning of September 2020 and received 26 replies (a response rate of 45%).
  • The respondents consist of nine fund managers representing buyout funds and 19 fund managers representing early stage funds.
  • Covid-19 has affected the sector's focus. Several PE firms said that they will invest less in culture, tourism, transportation and petroleum sectors.
  • The pandemic has also influenced the choice of sectors that fund managers want to invest more in, including healthcare and life science, ICT, tech and renewable energy.
"It is very interesting to see the changes in the investment process. If we continue to use digital tools and get even more accustomed to complete an investment process digitally from start to finish there is a huge potential, both when it comes to environmental concerns and to building relations across the world."
– Ellen Vold, NVCA