One of the more unknown investment ventures in the region has recently announced they have raised more money for their fund. 1337Works and their investment structure 1337 Partners.
1337Works and 1337 Partners is a hybrid between a startup studio and an investment fund.
1337Works, being the co-founder of the digital ventures, runs the pre-seed phase and takes a majority shareholder position. It also adds talent and skills, both on the tech side but also to make sure it has a strong team, that gets part of the equity and salary. 1337Works takes all the risk in the pre-seed phase.
“The startups get a strong ownership. We support with tech development, business development and financing.” says Anders Dellson, CEO
The focus of 1337Works is to evaluate the tech and market validity, and then help the startup with further funding.
”Our model fits those that want to work with less personal risk and that want a strong partner that has resources and experience building companies and funding” says Mikael Häggblad, Chief Venture Officer
The aim is to accept five new tech startups yearly.
“We are looking for ideas at a very early phase. Since we launched 1337Works two years ago over 50 business ideas have been evaluated and we have started five digital ventures. Three of them are estable, We Bot and Etonax,” says Anders
The new investor is Pekka Lähdekorpi, as well as Peter Jhaveri, Jörgen Haglind and Björn Thelander whom all have a past at TetraPak or Tetra Laval. This is the second time 1337 Partners has raised money. Previous investors include Christian W Jansson, David Hansson, Lars Björk and Tobias Ekman.
Old city of Lund becoming tech center
1337Works has also just recently moved to expanded offices in central Lund, and this is were the new startups will be located. Central Lund is also starting to become a hub for startups, with Auranest recently expanding their offices there, and startups like BackTick and The Quantum Guys moving into the newly opened Mindpark Lund coworking space.