Venturing into the world of startups can be both exhilarating and challenging. You've got a groundbreaking idea, a dedicated team, and a vision to disrupt the market. But one crucial element is the lifeblood of your startup's growth – funding. If you're a Swedish startup, you're in luck. This guide will introduce you to the top VC funds in Sweden, arming you with the knowledge to secure that crucial funding for your startup.
EQT VC
EQT is a Europe/US investment organization fueled by a clear purpose - to generate consistent and attractive returns across a range of geographies, sectors, and investment strategies. With nearly three decades of experience, EQT has built a stellar reputation for its resilient financial performance.
The client base of EQT is diverse and international, featuring a multitude of blue-chip fund investors. The enduring relationships with these investors, some of whom have been with EQT since its inception, is a testament to EQT's credibility and reliability in the investment world.
Furthermore, EQT is committed to fostering a more inclusive and sustainable future. The EQT Foundation, established in 2019, embodies this commitment. The foundation spearheads EQT’s global philanthropic initiatives, imbuing them with the company's culture and values. It serves as a testament to EQT's broader mission of making a positive impact in every endeavor
Creandum
Creandum is a venture capital advisory firm with a unique focus on sectors like the creator economy, Web3, the metaverse, and energy and climate tech. Headquartered in Stockholm, and with a presence in San Francisco, London, and Berlin, the firm powers innovation across continents, cultivating disruption in various industries.
Creandum is distinguished by its approach to value addition. Instead of attempting to position itself as an all-knowing entity, it recognizes the importance of asking the correct questions. This approach facilitates incisive discussions and promotes a learning environment.
Creandum's mission is to support the businesses of the future. They provide a platform for entrepreneurs to disrupt industries, have a global impact, and shape the future by virtue of their beliefs and dedication to innovation. Through their unique blend of expertise, global perspective, and faith in the transformative power of technology and entrepreneurship, their ultimate aim is to support the next generation of companies that will change the world.
Norrsken
Norrsken VC is one of the largest and most prestigious venture capital firms in Europe, specializing in early-stage investments with a strong emphasis on impact. The company was founded as an outgrowth of the Norrsken Foundation, a non-profit organization founded in 2016 by Klarna co-founder Niklas Adalberth.
The ethos of Norrsken VC is rooted in the conviction that entrepreneurs, by constructing rapidly scalable businesses, represent the most potent force for addressing the grandest and most complex challenges facing our world today. This conviction, coupled with a deep-seated commitment to positive societal change, fuels the firm's investment strategy and overall mission.
While Norrsken VC operates as an independent entity, it aligns seamlessly with the values and objectives of the Norrsken Foundation. Both share a common goal: to nurture and propel the next "impact unicorn" - a term coined to describe a company that positively impacts over a billion lives.
Pale Blue Dot
Pale Blue Dot is a venture capital firm primarily focused on seed-stage investments in promising climate tech startups within Europe and the US. As the name suggests, the firm is inspired by the vision of our planet as a "pale blue dot" in the vast expanse of space, highlighting the urgency of protecting our shared home.
The firm's investment philosophy revolves around the potential of climate tech to build a sustainable future. It firmly believes in the power of entrepreneurship and innovation to mitigate the impacts of climate change, presenting a window of opportunity that we have less than a decade to capitalize on. With the goal of reducing carbon emissions and reversing the climate crisis, Pale Blue Dot is committed to accelerating the growth of startups that align with these objectives.
Almi Invest
Almi Invest is the leading investor in startups in Sweden, wielding its influence nationwide through eight regional venture capital companies and a national GreenTech venture capital company. With around 40 investment managers, Almi Invest injects capital into approximately 50 new ventures annually, reinforcing its standing as a proactive player in the startup ecosystem.
A trailblazer in the climate tech venture capital space, Almi Invest is committed to making investments that lead to significant environmental impact. The firm's GreenTech Fund is dedicated to supporting Swedish early-stage startups that are focused on drastically reducing greenhouse gas emissions. With 65 million euros under management, the fund is a substantial vehicle for driving change in the environmental sector.
In essence, Almi Invest is not just a venture capital company; it is a catalyst for change, using its resources to fuel the growth of startups that align with its vision for a sustainable future.
Industrifonden
Industrifonden is a Sweden-based venture capital fund with a broad footprint across the Nordic region. Specializing in early-stage investments, the firm participates in funding rounds from seed to Series A, and occasionally even earlier. Typically, its first investment in a company ranges from 10-50 million SEK, but it has the ability to invest significantly more over a company's lifecycle. Exceptionally promising technologies may also attract smaller investments in the initial stages.
What sets Industrifonden apart is its commitment to long-term value creation. Thanks to its evergreen fund structure, the firm isn't under pressure to chase quick wins. Instead, it has the freedom and flexibility to invest in ventures that have the potential to deliver substantial returns over the long run. In essence, Industrifonden is a patient, strategic investor that places a premium on sustained growth and enduring success.
HealthCap
HealthCap is a European venture capital firm focused solely on life sciences. They invest in breakthrough therapies for diseases with high unmet medical needs, aiming to transform medical practice and patient lives. Since 1996, HealthCap has raised over EUR 1.2 billion, backed over 125 companies, and brought more than 45 companies public.
They've also contributed to the development and market approval of over 25 pharmaceutical products and more than 50 innovative medical devices. These achievements have generated significant value for patients, physicians, society, and HealthCap investors, affirming HealthCap's pivotal role in advancing life sciences.
BackingMind
BackingMind is a venture capital firm that distinguishes itself by seeking out high-performing founders outside of traditional venture capital networks. They invest in early-stage tech companies, regardless of industry, with a hands-on approach that goes beyond just providing capital. They consider themselves a supportive force, enabling entrepreneurs - the true superstars - to grow and thrive.
BackingMind's philosophy centers around doing things differently, building bridges, and going the extra mile. Their commitment to their portfolio companies extends beyond mere financial backing; they're dedicated partners to the innovators they support.
J12
J12 is a venture capital firm that supports founders who are making strides in the AI era. They focus on entrepreneurs building software infrastructure aimed at enhancing data accessibility and creating AI applications for enterprises, consumers, and the healthcare sector. However, their investment approach is not solely about the product or service - they place significant emphasis on founders who possess extraordinary ingenuity, an insatiable curiosity, and the resilience to persevere.
Beyond its investment activities, J12 organizes an exclusive event, J12 DAY, which brings together some of the most progressive investors and founders. This gathering serves as a platform to discuss topical issues and showcase the latest innovations in the European tech ecosystem. This year's theme, "Human After All?", guides conversations towards the ethical, societal, and philosophical implications of our future, spotlighting the increasingly intertwined relationship between humanity and technology.
Spintop Ventures
Spintop Ventures is a venture capital firm that specializes in early-stage investments in innovative software-based technology companies in the Nordics. They're committed to helping these startups grow into industry leaders and contribute to the transformation towards a more sustainable society.
The firm has a successful track record since making its first investment in 2010. It has backed numerous successful companies like Small Giant Games, which was acquired by Zynga Inc, MariaDB Corporation, and Crosser Technologies. Several firms in Spintop's portfolio have gone on to be acquired by global technology giants such as Bentley Systems, Cisco, and Synopsys, demonstrating the quality of Spintop's investment selections.
Spintop boasts a core Investment Team, supported by a network of experienced entrepreneurs and executives from the technology sector. This collective expertise and extensive contact network are drawn upon to support portfolio companies, ensuring that they have access to the best resources and knowledge to fuel their growth.
NFT Ventures
NFT Ventures, established in 2014, has been a pivotal player in the Nordic fintech ecosystem. With approximately 40 companies in its portfolio, it stands as one of Europe's most active investors in this sector.
The firm believes in the transformative potential of the financial industry. They see a new breed of players, fueled by technology, data, and global outlooks, disrupting the traditional landscape. This disruption is leading to the emergence of new global leaders within the sector.
As one of the earliest niche fintech investors in Sweden, NFT Ventures has amassed a wealth of unique experience and knowledge about the industry. Being entrepreneurs themselves, they leverage their strategic market position to benefit their portfolio companies, providing them with the tools and resources necessary to excel in an ever-evolving market.
Bonnier Capital
Bonnier Capital serves as the investment arm of the Bonnier Group, a family-owned Swedish conglomerate with interests spanning media, publishing, and real estate. The Bonnier Group has a rich history of nearly 200 years, during which it has consistently partnered with entrepreneurs to foster innovation and cultivate new business ventures.
Bonnier Capital, established in 2016, aligns with this ethos. It invests in promising companies operating in sectors experiencing structural growth. But its contribution goes beyond mere financial investment. The firm leverages its connection with the wider Bonnier Group to add value to its portfolio companies. This approach involves sharing the group's extensive resources, expertise, and networks to help these companies thrive and reach their full potential.
VNV Global
VNV Global is an investment firm with over two decades of experience in backing some of the world's most innovative companies. For the past ten years, the firm has honed its focus on businesses demonstrating network effects, believing in the transformative power of such models.
While the firm invests globally and is stage agnostic, it particularly supports mission-driven entrepreneurs who use technology to tackle real-world challenges in large markets. VNV's previous investments have gravitated towards themes such as Marketplaces, Mobility, and Health & Wellness. However, the firm maintains a degree of flexibility that allows it to venture into innovative investments in new areas.
With teams located in Stockholm, Amsterdam, and Cyprus, VNV Global operates on an international scale. Moreover, as a publicly listed company, it offers additional credibility and transparency. Its common shares are listed on the NASDAQ Stockholm, Mid Cap segment, under the ticker 'VNV', highlighting its strong presence in the global investment arena.
Luminar Ventures
Luminar Ventures is an active pre-seed and seed-stage venture capital fund based in the Nordics. Comprised of former founders and angel investors, the Luminar team leverages their personal experiences and expansive networks to guide and support founders as they transition from early vision to hypergrowth.
One of Luminar's distinguishing characteristics is its approach to legal due diligence and the creation of investment agreements and shareholders' agreements. In partnership with their legal advisors, Hansen, Luminar provides a comprehensive overview of these processes, ensuring transparency and understanding for all parties involved.
This blend of legal clarity, customizability, and a founder-centric mentality positions Luminar Ventures as not just an investor, but a strategic partner. By understanding the challenges and opportunities of entrepreneurship from their own firsthand experiences, they're well-equipped to assist founders in navigating their paths to success, making them a go-to choice for early-stage ventures in the Nordics.
Blq Invest
Blq is a venture firm dedicated to building enduring technology companies. They courageously guide startups through the high-risk "Valley of Death" stage, which is the precarious period between initial funding and the generation of steady revenues.
Their 'blq box' formula empowers startups with the knowledge and tools to confidently tackle future challenges and build lasting ventures. As experienced company builders, they provide the resilience, skills, and guidance necessary to navigate the startup journey and help ensure long-term success.
Final Thoughts
Venturing into the world of startups is like embarking on a thrilling rollercoaster ride, full of ups and downs. And when it comes to funding, it can often feel like the steepest climb. But don't worry; the Swedish VC scene has got your back.
The firms we've introduced you to in this guide are more than just money bags. They're partners, mentors, and cheerleaders, ready to join you in your startup journey. So, keep your cool, hold on to your vision, and step into the Swedish startup arena with confidence.
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