Atle's Kompanjonfund has bought a 17 per cent stake in Aneo, a Swedish anaesthetic equipment manufacturer.
Kompanjonfund is half-owned by Atle itself and half by six Swedish pension funds.
Aneo will issue new shares worth E2.7m to finance the acqusition, of which Kompanjonfund will underwrite about E1.6m. Existing Aneo shareholders will cover the balance.
Aneo develops and markets general anaesthetic equipment for intravenous administration during surgery.
The fund has now invested all of the E43.7m at its disposal. It holds about 15 investments in Sweden, mostly in hi-tech and medical companies. Atle was recently bought by 3i and Ratos, another Swedish VC.