Growth
Top Nordic Venture Capital Firms For Startups (2025)
Written by
Lineke Kruisinga
Published on
April 25, 2025
Written by
Published on
The Nordic region—comprising Sweden, Norway, Finland, Denmark, and Iceland—has become a launchpad for global tech success. With hubs like Stockholm, Helsinki, and Copenhagen, and a growing ecosystem in Oslo and Reykjavik, the Nordics are a hotspot for startup innovation. Whether you’re building in SaaS, climate tech, healthtech, or deep tech, this list of top VC funds in the Nordics will help you find the right partners for your next round.
Location: Oslo
StartupLab blends incubation with early-stage investing and wraps it in hands-on founder support.
Stage: Pre-seed to Seed
Size: €100K–€300K
Type: Early tech startups with operational needs
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Location: Oslo (also active in Sweden & Finland)
Backed by EU initiatives, Alliance helps early-stage founders go global with strong tech foundations.
Stage: Seed to Series A
Size: €500K–€3M
Type: B2B and SaaS-focused startups
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Location: Stavanger
Norway’s state climate fund investing in scale-stage companies cutting emissions at scale.
Stage: Growth
Size: €2M–€10M+
Type: Climate-positive scale-ups
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Location: Oslo
Early believers in tech talent with traction. Skyfall backs technical founders shaping tomorrow’s products.
Stage: Seed to Series A
Size: €300K–€2M
Type: Founder-led tech startups
Sector:
Location: Oslo
Hands-on VC with global ambitions, SNO supports early-stage companies in high-impact niches.
Stage: Seed to Series A
Size: €500K–€3M
Type: Globally focused early-stage startups
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Location: Trondheim
Norway’s largest VC fund. Invests directly and into other funds, across multiple industries.
Stage: Seed to Growth
Size: €1M–€10M+
Type: High-potential Norwegian startups
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Location: Oslo & Stockholm
Life sciences specialist fund supported by top Nordic and US institutions.
Stage: Seed to Series B
Size: €1M–€10M+
Type: Breakthrough biotech companies
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Location: Oslo
Impact-focused VC backing SFDR Article 9-aligned companies with sustainable, scalable models.
Stage: Seed to Series A
Size: €500K–€5M
Type: Responsible, mission-driven startups
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Location: Oslo
Run by StartupLab alumni, this fund powers industrial tech and sustainability startups early.
Stage: Pre-seed to Series A
Size: €300K–€2M
Type: Industrial software with impact
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Location: Oslo
Corporate-backed VC offering capital and business expertise for B2B innovators.
Stage: Seed to Series A
Size: €500K–€3M
Type: Enterprise tech startups
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Location: Stockholm
One of Europe’s biggest VCs, EQT offers full-stack support powered by AI-driven scouting.
Stage: Seed to Growth
Size: €2M–€75M+
Type: Tech startups ready to scale globally
Sector:
Location: Stockholm (global presence)
Creandum backs early-stage giants. Their portfolio includes Klarna, iZettle, and more.
Stage: Pre-seed to Series A
Size: €500K–€5M
Type: Product-first tech companies
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Location: Stockholm
Born from a foundation, Norrsken is the impact VC for startups solving real-world problems.
Stage: Seed to Series A
Size: €1M–€5M
Type: Purpose-led, impact-first founders
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Location: Malmö
Laser-focused on decarbonizing the economy, Pale Blue backs seed-stage climate tech.
Stage: Seed
Size: €500K–€2M
Type: Green and scalable startups
Sector:
Location: Sweden-wide
Sweden’s busiest seed investor with regional and national funds including a dedicated GreenTech fund.
Stage: Pre-seed to Seed
Size: €100K–€500K
Type: Early Swedish startups
Sector:
Location: Stockholm
A long-term, evergreen VC with a focus on deep tech and life sciences.
Stage: Seed to Series A
Size: €1M–€10M
Type: Research and IP-heavy companies
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Location: Stockholm
One of Europe’s largest life science investors with €1.2B raised.
Stage: Seed to Growth
Size: €2M–€15M+
Type: Medtech and biotech with unmet needs
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Location: Stockholm
Invests in overlooked opportunities and underrepresented founders beyond the mainstream.
Stage: Seed
Size: €250K–€1M
Type: Diverse founders with unique markets
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Location: Helsinki
Founder-led VC that enters early and sticks around. Think Wolt, Supercell.
Stage: Pre-seed to Seed
Size: €500K–€1M
Type: Visionary founders
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Location: Helsinki
Backing brave B2B startups with seed capital and cross-border thinking.
Stage: Seed
Size: €100K–€500K
Type: Finnish and Baltic founders
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Location: Helsinki
B2B SaaS is their thing. Vendep invests in recurring revenue from day one.
Stage: Seed to Series A
Size: €300K–€3M
Type: Scalable SaaS startups
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Location: Helsinki
Former MySQL founders run this deep tech fund. Strong open-source roots.
Stage: Seed to Series A
Size: €1M–€5M
Type: Data-led software companies
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Location: Helsinki
Government-backed fund investing in companies and funds to grow Finland’s tech ecosystem.
Stage: Seed to Growth
Size: €1M–€20M+
Type: Scale-ups and fund-of-fund investments
Sector:
🌐Tesi
Location: Copenhagen
A global seed accelerator with funding, mentorship, and early traction support.
Stage: Pre-seed to Seed
Size: €100K–€300K
Type: Early tech and impact startups
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Location: Copenhagen
Denmark’s go-to for zero-to-one founders, combining capital with strong founder backing.
Stage: Pre-seed
Size: €250K–€1M
Type: Ambitious pre-revenue startups
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Location: Copenhagen
Backed Danish giants like Vivino. One of the country’s most active VCs.
Stage: Seed to Series A
Size: €500K–€5M
Type: Scalable Danish startups
Sector:
Location: Copenhagen
Government VC fund backing R&D-heavy and climate-focused ventures early on.
Stage: R&D to Seed
Size: Variable
Type: Innovation-led startups
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Location: Reykjavik
Iceland’s leading VC for post-seed founders building global products.
Stage: Seed to Series A
Size: €500K–€3M
Type: Scalable Icelandic tech companies
Sector:
The Nordics are more than just a startup-friendly region—they’re a launchpad for unicorns. If you’re building in AI, sustainability, fintech, or digital health, chances are there’s a Nordic VC ready to back you. Research their focus, stage, and approach, and pitch the one that fits your journey.
Also good to read:
Top 20 Venture Capital Firms in the UK for Startups in 2025
Top 20 VC Investors in Germany for Startups in 2025
Top Angel Investor Networks to Fund Your Startup in 2025
Top 10 Angel Investors in Europe
Europe's Top 10 Fastest Growing Startups to Watch in 2025
11 Best Venture Studios for Startups: Top Picks for Innovation and Growth
Top 10 Early-Stage VC Firms in Europe: Best Investors for Startup Growth
We're always looking for new partners and investment possibilities:
🌱 Pre-seed and seed stage (ticket size €250k-1M)
🏎 Highly product and scale driven
🇪🇺 European focussed
🕸 Industry agnostic
