Not putting their money in Internet companies anyway

According to Svenska Riskkapitalföreningen (Swedish Venture Capital Association) Swedish venture capitalists invested 74 million SEK in 11 Internet technology companies in the second quarter of 2007. That is $1 million and change for each company.

To understand how litte that is, consider that Benchmark Capital alone put $8 million (about 50 million SEK) into Power Challenge in early May.

Update October 27th: A good friend who spoke to a few Swedish tech VCs about the number told me that the VCs, based on the their own investments, say the 74 million SEK number is too low.