Nordic Lists

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

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?

๐Ÿ‡ธ๐Ÿ‡ช EQT - โ‚ฌ660 million
๐Ÿ‡ณ๐Ÿ‡ด Northzone - $500 million
๐Ÿ‡ซ๐Ÿ‡ฎ DevCo Partners - โ‚ฌ180 million
๐Ÿ‡ซ๐Ÿ‡ฎ Lifeline Ventures - โ‚ฌ130 million
๐Ÿ‡ซ๐Ÿ‡ฎ Juuri Partners - โ‚ฌ110 million
๐Ÿ‡ธ๐Ÿ‡ช Eequity - $100 million
**Antler (Singapore-headquartered operating in Sweden and Norway) - $100 million

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๐Ÿ‡ธ๐Ÿ‡ช Norrsken Foundation - โ‚ฌ61 million
๐Ÿ‡ธ๐Ÿ‡ช Brightly Ventures - $60 million
๐Ÿ‡ซ๐Ÿ‡ฎ Helen Ventures - โ‚ฌ50 million
๐Ÿ‡ซ๐Ÿ‡ฎIPR.VC - โ‚ฌ42 million
๐Ÿ‡ธ๐Ÿ‡ช J12 Ventures - $50 million

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๐Ÿ‡ณ๐Ÿ‡ด ProVenture Management - โ‚ฌ33 million
๐Ÿ‡ธ๐Ÿ‡ช Bonnier Ventures - $25 million
๐Ÿ‡ซ๐Ÿ‡ฎ Nordic FoodTech VC - โ‚ฌ25 million
๐Ÿ‡ฉ๐Ÿ‡ฐ Scale Capital - $22 million
๐Ÿ‡ธ๐Ÿ‡ช Linnรฉa Capital: โ‚ฌ15 million

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๐Ÿ‡ธ๐Ÿ‡ช Blq Invest - $10 million
Newion (Netherlands) - โ‚ฌ10 million aimed for the Nordics
๐Ÿ‡ธ๐Ÿ‡ช Propel Capital - โ‚ฌ6 million
๐Ÿ‡ฉ๐Ÿ‡ฐ Unconventional Ventures - โ‚ฌ125k
๐Ÿ‡ธ๐Ÿ‡ช Mist Ventures - undisclosed

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