What are the top venture capital companies in Sweden
Top VC, in Sweden or anywhere, can have many meanings and interpretations, depending on details such as the style of the investor, the venture investment thesis (if that), preferred verticals, or a specific network they prefer to work with, reputation, record etc.
However, the number of recent deals of a VC seems like a good indicator for a top - we searched in our database and found the following list with the top active VCs from Sweden in 2017.
A few observations:
- we excluded Almi from the top (we tracked 56 deals for Almi in 2017), as Almi is not a exactly a traditional VC company but rather a national hybrid organisation which works with a combination of different resources (i.e. equity, debt, grants) on a diverse spectrum. Besides, the Swedish state is represented by Industrifonden, which is organised as a VC company and, coincidence or not, is also in top of the list
- there are very few VCs with an outside-of-Sweden appetite - Northzone, Creandum, EQT Ventures. The first two started expanding their geographic scope a few years back, and, maybe not surprisingly, were the first institutional backers of Spotify, in 2007. Success helps broaden the horizons, there's a significant mentality difference when exposed to other cultural ecosystems than your own and that can contribute massively to better success rates. EQT Ventures is a relatively young investment house, and belongs to one of the most powerful private equity companies from Europe. The caveat here is that we track Scandinavia-only deals.
- 5 of 11 VCs from the list, namely Industrifonden, Inbox, Northzone, Creandum and EQT, have top deals with followup investments of $5M and more. The others have made many smaller bets, with only one deal higher than $5M.
- Wellstreet seems to be the most compact one in terms of deal value distribution, with 4 investments above $1M and 7 below (3 have undisclosed financial data).
- speaking of Wellstreet - it is the youngest company from the list, with no high profile or big network behind it. The company was founded in 2016 by two guys from their own funds and with entrepreneurial and implementation experience, as opposed to usually consulting or finance people hired to run a similar traditional firm - it has made 32 investments since then.
- Soläng Invest follows a relatively similar investment pattern even though it doesn't seem to be a venture company per se but rather a one man investment show. Nonetheless it is active in venture deals - the company is owned by Anders Göransson who has a daily job as Chief Fixed Income Sales Manager at Nordea Markets.
- there are a few deals with top VCs acting as co investors, such as Soundtrack Your Brand, Min Doktor, Kahoot, Enkla, Barnebys, Nextory. Sharing the risks is a signal of higher return expectations from the 2017 investment class.
- also interesting, Wellstreet and Soläng Invest are the only ones from the top who didn't co-invest with other investors from the top below.
- the data is available here, and considers only the equity investment deals in the Nordic companies which were publicly announced for the year 2017.
1. Industrifonden - 19 transactions
Top deals: Soundtrack Your Brand ($22M), Sol Voltaics ($21.3M), Apica ($12M), inRiver ($12M), Funnel ($10M)
2. Inbox Capital - 17 transactions
Top deals: Min Doktor ($25M), Acast ($19.5M), Doctrin ($11.8M), Qapital ($7.5M), Barnebys ($6.11M)
3. Wellstreet - 14 transactions
Top deals: Tibber ($2.4M), Touchize ($1.7M), Elias ($1.7M), Steven ($1.1M), Reve ($880k)
4. Northzone - 12 transactions
Top deals: Soundtrack Your Brand ($22M), NA-KD ($14.7M), Happy or Not ($14.5M), Fuse ($12M), Labster ($10M), Kahoot ($10M)
5. Soläng Invest - 12 transactions
Top deals: Orbital Systems ($18.7M), DPOrganizer ($3.6M), App Jobs ($1.2M), Brainlit ($1.1M), Pacemaker ($1M).
6. Creandum - 11 transactions
Top deals: Kry ($22.6M), Soundtrack Your Brand ($22M), Xeneta ($12M), Kahoot ($10M), RFRSH Entertainment ($8.1M)
7. Aggregate Media - 10 transactions
Top deals: Readly ($14.6M), Nextory ($3.4M), FSport ($2.4M), Indentive ($1.5M), Bookatreat ($1.2M)
8. EQT Ventures - 8 transactions
Top deals: Natural Cycles ($30M), Min Doktor ($25M), Varjo ($8M), Peakon ($6.6M), Aifloo ($6M)
9. NFT Ventures - 8 transactions
Top deals: Betalo ($5.4M), Paydrive ($3.6M), Gimi ($3.6M), Enkla ($2.5M), Toborrow ($1.9M)
10. Collector Ventures - 8 transactions
Top deals: Kaching ($4.7M), Enkla ($2.5M), Capcito ($2.5M), Mondido ($1.1M), Nordkap ($550k)
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