byWiT secures close to 90 MSEK in annual new share issue 2023

Today we announce that byWiT has secured close to 90 MSEK in our annual new share issue 2023. This is our third new share issue since start and totally byWiT has attracted just over 950 MSEK since autumn 2021. We will primarily use the new funding to invest in and develop new scale up growth companies to grow and broaden our portfolio.
 
“byWiT has a clear strategy to invest long-term in digital growth companies that are creating structural change and streamlining the industries in which they operate. In the current economic downturn, we see that their cost-effective and innovative solutions are in higher demand than ever. Therefore, it is very gratifying that so many investors, both existing and new, want to be part of byWiT’s ongoing journey, even in more challenging times”, says Ulf Söderström, co-founder and CEO at byWiT.
 
byWiT was founded in 2021 with the strategy to invest in digital growth companies with a global potential digitizing analog industries. With the annual new share issue 2023, to the net asset value of 1050 SEK as of June 2023, byWiT has attracted just over 950 MSEK since start. Today the portfolio consists of 10 companies such as E-farm, Proxify, Pensionera and Root Digital Group. Our strong focus on supporting our portfolio companies in the operational work with everything from strategy, Growth Hacking, Go-To-Market plans to management functions and network has proven to be very successful. A significant portion of our portfolio companies are profitable while being fast-growing companies, where their combined revenue increased by over 80 percent during 2022.
 
”With our operational edge we are working closely together with our portfolio companies’ founders to continuously develop and grow their businesses aiming to turn them into global champions, or companies that are being valued to 1MDSEK. With the new funding we can invest in more interesting growth companies with a huge potential”, Ulf Söderström continues.
 
Coeli, together with its clients and network, has invested in byWiT and is beside byWiT’s founders significant investors and owners.
 
“We see significant value in byWiT’s strategy, particularly through their extensive operational involvement with their portfolio companies, where they assist the companies in both accelerating growth and managing growth-related risks”, says Erik Bäckström, partner at Coeli.