A list with investment funds announced in the second part of 2019 in the Nordics.

06 February 2020 Euro Lists
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In the last 6 months we saw plenty of fresh funds announced and money made available for being invested in the Nordics - we counted more than $2.2 billion available to all stages. We thought a list with a selection of them would come in handy.

The list is balanced between Nordic mega funds with international ambitions and local funds aiming to invest early stage. Add in the mix non-Nordic investors already very active through scouts or local representatives.

It is notable Antler's incubator raising more than 100 million after testing its PMF in the past two years in Sweden and Norway. Most of it will probably be used for scaling outside Scandi though.

It is also interesting to note that more money and announcements mean higher competition for deals. And since this business is very dependable of rep and referrals it will be interesting to follow how at the lower end of the market, in early and very early stages, things will play out since there is no established go-to investor brand when starting from scratch and cold in the Nordics. Except for the State-owned agencies and a couple of accelerators, that is.

  • Is the Nordic area (i.e. about 1000 deals and $4-5bn per year) prepared to take in so much money?
  • Is the early stage infrastructure producing enough founders and interesting backable ideas?
  • Will we see more experiments and higher risks bets very early? So far data shows a lower yoy number of deals at a lower-than-$1M level in 2019.
  • What is your strategy if you are a fund competing for deals at the low end?
  • What is your strategy if you are founder looking to build a scalable international business from day 1?

The list has 22 funds that are based and active in the Nordic countries, and announced in the last part of 2019.


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Acess the list with investment funds announced in the second part of 2019 in the Nordics.