EQT appoints Carolina Brochado to lead its venture investments in the US

In Sweden, the private equity firm EQT is undergoing a significant transformation within its venture team to bolster its investments in American startups. This evolution is marked by the promotion of Carolina Brochado from within the firm to oversee all venture and growth investments from a newly established office in New York. Brochado, who has an extensive background in investing, had been part of EQT since 2020 and played a crucial role in leading its growth initiatives. Her appointment signifies a strategic pivot towards the US market, which EQT identifies as the most significant tech sector globally. As the firm seeks to enhance its presence in the deeply saturated American technology landscape, it acknowledges that while tech investments will substantially increase in the US, a majority will still be directed towards European startups. This dual focus comes at a time when the competition among investors is intensifying, with many major US firms also prioritizing opportunities in Europe. Thus, EQT aims to position itself advantageously in a rapidly evolving market. The recent shakeup at EQT also entails the departure of four key partners, including former EQT Ventures lead Lars Jörnow, who contributed to establishing the firm's venture arm a decade ago. Jörnow is recognized for his strategic investments in gaming companies, including Small Giant Games and Reworks. The exit of seasoned partners raises questions about the firm's future dynamics and could reflect a shift in EQT's investment philosophy, particularly as it expands its focus in a competitive landscape. In recent years, EQT's growth trajectory has been remarkable. Since its public listing in 2019, the firm has seen its assets grow from $44 billion to a staggering $315 billion, effectively more than tripling its market share price. This growth has been supported by the backing of the Wallenberg family, renowned for their influence in Sweden's financial sector. As EQT shapes its future direction, the leadership of Brochado is critical to navigating both American and European investment landscapes effectively.