Investment company Wellstreet today announced that Caroline Farberger, a noted finance executive and CEO of ICA Insurance, is joining the company as chairperson.
As part of Wellstreet’s senior leadership team, Farberger will play an active role in broadening the company’s business network, particularly with companies founded and led by others from populations often overlooked by early-stage investors.
Farberger has over 30 years of experience in banking and financial services. She began her career as an engagement manager with McKinsey & Company, providing consulting services to organisations throughout the U.S., Sweden, Germany, China and Estonia. Following McKinsey, Caroline held increasingly senior positions with prominent banking and insurance companies in Sweden, ultimately becoming CEO of ICA Insurance in 2016.
The appointment comes as Wellstreet continues to establish itself as an important player in the Nordic tech scene. In 2019, Wellstreet launched Scandinavia's largest tech and innovation hub in Stockholm named The Factory, which includes the Wellstreet Launchpad (in partnership with Google for Startups) and the Fintech Loft (in collaboration with Amazon Web Services [AWS]). Recently, the company announced the planned expansion to Gothenburg, Sweden’s second largest city, which is increasing in prominence as a center of tech entrepreneurism.
“I am grateful and inspired to be part of Wellstreet’s future journey,” said Farberger. “Wellstreet has already established an exciting portfolio, and I look forward to raising the level of ambition, growing our network with a special emphasis on inclusion and diversity in ownership, as ownership is the very basis of power in business.”
“Entrepreneurship is very much about courage and persuasion, which are two traits Caroline absolutely personifies,” said Mikael Wintzell, co-founder and CEO of Wellstreet. “When combined with her solid experience leading operations and strategies, she brings to Wellstreet a new dimension that will enable us to better support growth-stage companies.”
Caroline Farberger will take up her new position Chair of the Board at Wellstreet later this spring in connection with the Annual General Meeting.