SUPPORTING
NORDIC
STARTUPS
An ecosystem built for founders,
angels and curious minds
of the Nordic startup world
SWEDEN
Sweden continues to solidify its reputation as one of the worldʼs most innovative nations. It now ranks among the global top 10 in terms of the number of unicorns and leads Europe in unicorns per capita, with particular strengths in advanced technology, the green transition, and life sciences.
- $319 B
TOTAL VALUE OF SWEDISH STARTUPS (2024) - 46
SWEDISH UNICORNS TO DATE - 2117
NUMBER OF SWEDISH STARTUPS (2024) - €2.3 B
VC MONEY RAISED IN SWEDISH STARTUPS (2024)
Sweden's well known unicorns
RAISE MONEY
Sweden is one of Europe’s most dynamic startup hubs, producing global giants such as Spotify, Klarna, iZettle, Northvolt, and Truecaller. The country combines a strong engineering and design culture with digital-first consumers, and its VC landscape reflects that maturity: Sweden is home to several of Europe’s most prominent venture capital funds, alongside specialised investors and international firms with Stockholm or Gothenburg offices.
For founders, this means Sweden is well covered across all stages — from pre-seed and seed (backed by government-owned funds, accelerators, and niche climate or SaaS specialists) to growth and late-stage scale-up funding (led by global VCs and local champions).
Below you’ll find a curated list of VC funds with presence in Sweden, divided into major players and specialised active funds. Each entry highlights their stage focus, investment themes, portfolio examples, and how to reach them.
For founders, this means Sweden is well covered across all stages — from pre-seed and seed (backed by government-owned funds, accelerators, and niche climate or SaaS specialists) to growth and late-stage scale-up funding (led by global VCs and local champions).
Below you’ll find a curated list of VC funds with presence in Sweden, divided into major players and specialised active funds. Each entry highlights their stage focus, investment themes, portfolio examples, and how to reach them.
Major VC Funds with Swedish Presence
- HQ: Stockholm
- Stage: Late Seed & Series A
- Focus: Northern European SaaS and fintech scale-ups, long-term active ownership.
- Portfolio: Trustly (payments), Mentimeter (audience engagement), Quinyx (workforce SaaS).
- Website: https://alfvendidrikson.com
- HQ: Stockholm | Regional offices: 8 across Sweden
- Stage: Pre-Seed & Seed
- Focus: Broad — Tech, Life Sciences, Cleantech — Sweden-only. Works as a co-investor, de-risking early rounds alongside private VCs.
- Portfolio: Neo4j (graph database unicorn), Tobii (eye-tracking IPO), MIPS (helmet safety tech)
- Ticket Size: SEK 1–10 million (≈ €90k–900k).
- Website: https://almi.se
- HQ: Stockholm
- Stage: Pre-Seed & Seed
- Focus: Underrepresented founders & overlooked markets. Invests where traditional VCs don’t look.
- Portfolio: Transfer Galaxy (remittances), TrusTrace (supply chain), CemVision (green cement).
- Website: https://backingminds.com
- HQ: Stockholm
- Stage: Seed to Series B
- Focus: FinTech, Gaming, AI, and Health. Positions itself as a modern, founder-friendly VC.
- Portfolio: Worldfavor, Zevoy (fintech), Carasent (digital health).
- Website: https://brightlyventures.com
- HQ: Stockholm
- Stage: Early Growth (A–B, occasionally Seed–C)
- Focus: Consumer & media tech, digital services, fintech. Backed by Sweden’s media giant Bonnier.
- Portfolio: Acast (podcasting), Natural Cycles (digital contraception), Doktor.se.
- Website: https://bonniercapital.se
- HQ: Stockholm | Offices: Berlin, London, San Francisco
- Stage: Early-stage (Seed–A, with follow-on up to B)
- Focus: SaaS, FinTech, Consumer, Web3, and Climate. Highly selective, known for spotting companies with global potential early on.
- Portfolio: Spotify, iZettle (acquired by PayPal), Klarna, Trade Republic, Depop.
- Sweden activity: Stockholm HQ makes Creandum a cornerstone of the ecosystem, especially for early-stage consumer and fintech startups.
- Website: https://creandum.com
- HQ/Domicile: Luxembourg | Strong presence in Stockholm
- Stage: Multi-stage (Seed–Series C+)
- Focus: Broad tech — FinTech, SaaS, AI, Gaming, Biotech — with global ambitions. Operates like a startup itself, combining investment capital with an in-house “Motherbrain” AI platform for deal-scouting.
- Portfolio: Wolt (acquired by DoorDash), Einride (autonomous trucks), Small Giant Games (acquired by Zynga), Instabox.
- Sweden activity: One of Europe’s largest VC funds with deep Stockholm roots; often leads large, high-profile rounds.
- Website: https://eqtventures.com
- HQ: Stockholm
- Stage: Growth
- Focus: SaaS, FinTech, MedTech, Gaming & e-sports.
- Portfolio: VOI (micromobility), Truecaller, Revolut.
- Website: https://inboxcap.com
- HQ: Stockholm | Offices: Gothenburg & Uppsala
- Stage: Seed & Series A (with flexibility for later-stage follow-on)
- Focus: Deep Tech, Life Sciences, and transformative B2B tech.
- Portfolio: Oatly (plant-based foods), Qlik (analytics), Calliditas (rare disease biotech), Soundtrack Your Brand.
- Sweden activity: One of the largest evergreen funds in the Nordics; invests with long horizons and patience.
- Website: https://industrifonden.com
- HQ: Stockholm | Offices: London & Paris
- Stage: Pre-Seed & Seed
- Focus: Data/AI-driven B2B SaaS, Marketplaces, Climate Tech.
- Portfolio: Validio (data quality), Inex One (expert network platform).
- Sweden activity: Known for scouting very early opportunities in Stockholm’s AI/ML scene.
- Website: https://j12ventures.com
- HQ: Stockholm
- Stage: Pre-Seed & Seed
- Focus: SaaS, FinTech, AI, digital-first services. Known for hands-on support, founder coaching, and network-building.
- Portfolio: Mindler (digital mental health), Insurely (insurance data API), Movesta (proptech).
- Sweden activity: Actively investing across Sweden, with a clear focus on first institutional rounds.
- Website: https://luminarventures.com
- HQ: Stockholm
- Stage: Growth (Series A/B onwards)
- Focus: Enterprise B2B software, with emphasis on Northern Europe. Combines investment with operational experience (many partners are ex-operators).
- Portfolio: Matilda FoodTech, Pythagoras, Hypergene.
- Website: https://monterro.com
- HQ: Stockholm
- Stage: Seed & Series A
- Focus: FinTech — payments, open banking, and loyalty.
- Portfolio: Tink (open banking, acquired by Visa), Wrapp.
- Website: https://nftventures.com
- HQ: Stockholm
- Stage: Seed & Series A
- Focus: Impact Tech aligned with UN SDGs — climate, health, equality. Backed by the Norrsken Foundation, founded by Klarna co-founder Niklas Adalberth.
- Portfolio: Northvolt, Einride, Olio (food waste reduction), Aira (climate-friendly home energy).
- Sweden activity: Closely tied to Norrsken House, Stockholm’s impact hub, and one of Europe’s leading impact investors.
- Website: https://norrsken.vc
- HQ: London | Offices: Stockholm, New York, Berlin, Amsterdam, Oslo
- Stage: Early to Growth (Seed–B+)
- Focus: Consumer tech, SaaS, FinTech, AI; Europe & US. Known for its sharp eye on consumer behavior and global scaling potential.
- Portfolio: Spotify, Klarna, Trustpilot, Kahoot!, Personio, TrueLayer.
- Sweden activity: One of the first VCs to back Spotify; remains a heavyweight in Stockholm with regular new investments.
- Website: https://northzone.com
- HQ: Stockholm | Nordic presence
- Stage: Seed & Early Stage
- Focus: B2B SaaS, digital platforms, and software innovations. Focus on Nordic and UK startups ready to scale.
- Portfolio: Worldfavor (sustainability reporting), Defentry (cybersecurity), Apica.
- Sweden activity: A strong choice for B2B founders seeking experienced early-stage backers.
- Website: https://spintopventures.com
- HQ: Stockholm
- Stage: Growth (Series B / expansion capital)
- Focus: Enterprise SaaS & digital businesses in Nordics and Baltics.
- Portfolio: Kundo (customer support), Papirfly (brand management).
- Website: https://standoutcapital.com
- HQ: Oslo | Major office in Stockholm
- Stage: Growth (Series B+)
- Focus: Sustainability, software, e-commerce. Acts as a growth equity investor and “active owner.”
- Portfolio: Tibber (energy), Boozt (fashion e-commerce), Kahoot!.
- Sweden activity: One of the most prominent late-stage investors active in Stockholm.
- Website: https://verdane.com
Additional Specialized VC Funds in Sweden
- Growth equity for consumer internet and e-commerce brands. Portfolio includes NA-KD, Aim’n, KidsBrandStore. Known for taking Scandinavian brands global.
- Website: https://eequity.se
- One of the Nordics’ most active pre-seed investors. Focus on deep tech, AI, hardware, life sciences. Portfolio includes Cambri, Injeq, Disior.
- Website: https://butterfly.vc
- Venture builder + fund affiliated with Chalmers University. Invests in university spinouts and deep tech, greentech, and healthtech startups. Portfolio includes IPercept, Navari, Adsorbi.
- Website: https://chalmersventures.com
- Focus on impact and tech-driven early-stage startups in Sweden, with attention to digital health and sustainability.
- Website: https://curitasventures.com
- Life sciences specialist, one of Europe’s most experienced biotech VCs. Portfolio: Oncopeptides, Calliditas, Wilson Therapeutics. Raised over €1bn across funds.
- Website: https://healthcap.eu
- Early to growth-stage investor with global outlook. Backs scale-ups in AI, digital health, SaaS. Portfolio: Notion, Sana Labs, Doctor.se.
- Website: https://navigareventures.com
- Growth investor in healthcare, food, and education. Portfolio includes Apohem, Filippa K, KRY. Long-term, strategic perspective.
- Website: https://novax.se
- Exclusively invests in ClimateTech startups addressing climate change, across food, energy, mobility, and carbon removal. Portfolio includes Climate X, Normative, Alva Labs. Among the first dedicated climate-focused VCs in Sweden.
- Website: https://paleblue.vc
- VC + venture builder, focusing on SaaS, FinTech, and e-commerce. Runs the Wellstreet Launchpad accelerator. Portfolio includes Tibber, DanAds, Regily.
- Website: https://wellstreet.se
- Deep Tech & science-based VC active across Nordics and Baltics. Portfolio includes Solar Foods, ICEYE, Dispelix. Local Stockholm office connects them to Swedish universities and research spinouts.
- Website: https://voimaventures.com
Sweden’s angel investor ecosystem is among the most sophisticated in Europe. It is powered by successful tech founders reinvesting their wealth and know-how, seasoned financiers turned angels, and an increasingly organized set of angel clubs and family offices. These actors provide not only capital but also operational experience and global networks, often making them the very first external backers of Sweden’s next unicorns.
Prominent Tech Founders Turned Angels
-
Daniel EkCo-founder & CEO, SpotifyFounded Prima Materia, pledging €1B into European “moonshot” startups. Focus: deep-tech, AI, health, and defense. Investments include Helsing (defense AI, where he is chairman) and Neko Health. -
Martin LorentzonCo-founder, Spotify & TradeDoublerAngel in consumer/lifestyle startups such as Sniph and Student.com. Known for quick, small seed checks in consumer brands. -
Sebastian SiemiatkowskiCo-founder & CEO, KlarnaInvests personally and via Flat Capital. Portfolio includes Depop, Omio, Truecaller, and SaaS companies like Nylas. -
Niklas AdalberthKlarna co-founder; founder of Norrsken FoundationChampion of “impact unicorns” through personal bets and Norrsken VC. Backed Einride, Northvolt, TRINE, and Olio. - Victor JacobssonKlarna co-founderInvests via his vehicle Tacito Partners, backing Swedish fintechs and growth startups.
- Jacob de GeerCo-founder, iZettleFocus on fintech and SaaS. Angel in Gilion (Ark Kapital) and MAJORITY.
- Hjalmar WinbladhFounder of Sendit, Epidemic Sound; founding partner, EQT VenturesAngel in Gilion, MAJORITY, and other fintech/SaaS companies. Mixes personal checks with institutional deals.
- Sebastian KnutssonCo-founder & creative lead, King (Candy Crush)Focus on gaming and creative apps. Angel in Revyze, Reforged Labs, and energy-tech startup Flower.
- Jonas NordlanderCo-founder, AvitoInvest together with Filip Engelbert via Otiva. Focus on marketplaces, mobility, and consumer apps. Backed Voi Technology and Hemnet.
- Filip EngelbertCo-founder, AvitoInvest together with Jonas Nordlander via Otiva. Focus on marketplaces, mobility, and consumer apps. Backed Voi Technology and Hemnet.
Other Active & Frequent Angels
- Daniel EkCo-founder & CEO, SpotifyFounded Prima Materia, pledging €1B into European “moonshot” startups. Focus: deep-tech, AI, health, and defense. Investments include Helsing (defense AI, where he is chairman) and Neko Health.
- Martin LorentzonCo-founder, Spotify & TradeDoublerAngel in consumer/lifestyle startups such as Sniph and Student.com. Known for quick, small seed checks in consumer brands.
- Sebastian SiemiatkowskiCo-founder & CEO, KlarnaInvests personally and via Flat Capital. Portfolio includes Depop, Omio, Truecaller, and SaaS companies like Nylas.
- Niklas AdalberthKlarna co-founder; founder of Norrsken FoundationChampion of “impact unicorns” through personal bets and Norrsken VC. Backed Einride, Northvolt, TRINE, and Olio.
- Victor JacobssonKlarna co-founderInvests via his vehicle Tacito Partners, backing Swedish fintechs and growth startups.
- Jacob de GeerCo-founder, iZettleFocus on fintech and SaaS. Angel in Gilion (Ark Kapital) and MAJORITY.
- Hjalmar WinbladhFounder of Sendit, Epidemic Sound; founding partner, EQT VenturesAngel in Gilion, MAJORITY, and other fintech/SaaS companies. Mixes personal checks with institutional deals.
- Sebastian KnutssonCo-founder & creative lead, King (Candy Crush)Focus on gaming and creative apps. Angel in Revyze, Reforged Labs, and energy-tech startup Flower.
- Jonas NordlanderCo-founder, AvitoInvest together with Filip Engelbert via Otiva. Focus on marketplaces, mobility, and consumer apps. Backed Voi Technology and Hemnet.
- Filip EngelbertCo-founder, AvitoInvest together with Jonas Nordlander via Otiva. Focus on marketplaces, mobility, and consumer apps. Backed Voi Technology and Hemnet.
Angel Clubs & Syndicates
- HQ: Stockholm
- Stage: Late Seed & Series A
- Focus: Northern European SaaS and fintech scale-ups, long-term active ownership.
- Portfolio: Trustly (payments), Mentimeter (audience engagement), Quinyx (workforce SaaS).
- Website: https://alfvendidrikson.com
- HQ: Stockholm | Regional offices: 8 across Sweden
- Stage: Pre-Seed & Seed
- Focus: Broad — Tech, Life Sciences, Cleantech — Sweden-only. Works as a co-investor, de-risking early rounds alongside private VCs.
- Portfolio: Neo4j (graph database unicorn), Tobii (eye-tracking IPO), MIPS (helmet safety tech)
- Ticket Size: SEK 1–10 million (≈ €90k–900k).
- Website: https://almi.se
- HQ: Stockholm
- Stage: Pre-Seed & Seed
- Focus: Underrepresented founders & overlooked markets. Invests where traditional VCs don’t look.
- Portfolio: Transfer Galaxy (remittances), TrusTrace (supply chain), CemVision (green cement).
- Website: https://backingminds.com
- HQ: Stockholm
- Stage: Seed to Series B
- Focus: FinTech, Gaming, AI, and Health. Positions itself as a modern, founder-friendly VC.
- Portfolio: Worldfavor, Zevoy (fintech), Carasent (digital health).
- Website: https://brightlyventures.com
- HQ: Stockholm
- Stage: Early Growth (A–B, occasionally Seed–C)
- Focus: Consumer & media tech, digital services, fintech. Backed by Sweden’s media giant Bonnier.
- Portfolio: Acast (podcasting), Natural Cycles (digital contraception), Doktor.se.
- Website: https://bonniercapital.se
- HQ: Stockholm | Offices: Berlin, London, San Francisco
- Stage: Early-stage (Seed–A, with follow-on up to B)
- Focus: SaaS, FinTech, Consumer, Web3, and Climate. Highly selective, known for spotting companies with global potential early on.
- Portfolio: Spotify, iZettle (acquired by PayPal), Klarna, Trade Republic, Depop.
- Sweden activity: Stockholm HQ makes Creandum a cornerstone of the ecosystem, especially for early-stage consumer and fintech startups.
- Website: https://creandum.com
- HQ/Domicile: Luxembourg | Strong presence in Stockholm
- Stage: Multi-stage (Seed–Series C+)
- Focus: Broad tech — FinTech, SaaS, AI, Gaming, Biotech — with global ambitions. Operates like a startup itself, combining investment capital with an in-house “Motherbrain” AI platform for deal-scouting.
- Portfolio: Wolt (acquired by DoorDash), Einride (autonomous trucks), Small Giant Games (acquired by Zynga), Instabox.
- Sweden activity: One of Europe’s largest VC funds with deep Stockholm roots; often leads large, high-profile rounds.
- Website: https://eqtventures.com
- HQ: Stockholm
- Stage: Growth
- Focus: SaaS, FinTech, MedTech, Gaming & e-sports.
- Portfolio: VOI (micromobility), Truecaller, Revolut.
- Website: https://inboxcap.com
- HQ: Stockholm | Offices: Gothenburg & Uppsala
- Stage: Seed & Series A (with flexibility for later-stage follow-on)
- Focus: Deep Tech, Life Sciences, and transformative B2B tech.
- Portfolio: Oatly (plant-based foods), Qlik (analytics), Calliditas (rare disease biotech), Soundtrack Your Brand.
- Sweden activity: One of the largest evergreen funds in the Nordics; invests with long horizons and patience.
- Website: https://industrifonden.com
- HQ: Stockholm | Offices: London & Paris
- Stage: Pre-Seed & Seed
- Focus: Data/AI-driven B2B SaaS, Marketplaces, Climate Tech.
- Portfolio: Validio (data quality), Inex One (expert network platform).
- Sweden activity: Known for scouting very early opportunities in Stockholm’s AI/ML scene.
- Website: https://j12ventures.com
- HQ: Stockholm
- Stage: Pre-Seed & Seed
- Focus: SaaS, FinTech, AI, digital-first services. Known for hands-on support, founder coaching, and network-building.
- Portfolio: Mindler (digital mental health), Insurely (insurance data API), Movesta (proptech).
- Sweden activity: Actively investing across Sweden, with a clear focus on first institutional rounds.
- Website: https://luminarventures.com
- HQ: Stockholm
- Stage: Growth (Series A/B onwards)
- Focus: Enterprise B2B software, with emphasis on Northern Europe. Combines investment with operational experience (many partners are ex-operators).
- Portfolio: Matilda FoodTech, Pythagoras, Hypergene.
- Website: https://monterro.com
- HQ: Stockholm
- Stage: Seed & Series A
- Focus: FinTech — payments, open banking, and loyalty.
- Portfolio: Tink (open banking, acquired by Visa), Wrapp.
- Website: https://nftventures.com
- HQ: Stockholm
- Stage: Seed & Series A
- Focus: Impact Tech aligned with UN SDGs — climate, health, equality. Backed by the Norrsken Foundation, founded by Klarna co-founder Niklas Adalberth.
- Portfolio: Northvolt, Einride, Olio (food waste reduction), Aira (climate-friendly home energy).
- Sweden activity: Closely tied to Norrsken House, Stockholm’s impact hub, and one of Europe’s leading impact investors.
- Website: https://norrsken.vc
- HQ: London | Offices: Stockholm, New York, Berlin, Amsterdam, Oslo
- Stage: Early to Growth (Seed–B+)
- Focus: Consumer tech, SaaS, FinTech, AI; Europe & US. Known for its sharp eye on consumer behavior and global scaling potential.
- Portfolio: Spotify, Klarna, Trustpilot, Kahoot!, Personio, TrueLayer.
- Sweden activity: One of the first VCs to back Spotify; remains a heavyweight in Stockholm with regular new investments.
- Website: https://northzone.com
- HQ: Stockholm | Nordic presence
- Stage: Seed & Early Stage
- Focus: B2B SaaS, digital platforms, and software innovations. Focus on Nordic and UK startups ready to scale.
- Portfolio: Worldfavor (sustainability reporting), Defentry (cybersecurity), Apica.
- Sweden activity: A strong choice for B2B founders seeking experienced early-stage backers.
- Website: https://spintopventures.com
- HQ: Stockholm
- Stage: Growth (Series B / expansion capital)
- Focus: Enterprise SaaS & digital businesses in Nordics and Baltics.
- Portfolio: Kundo (customer support), Papirfly (brand management).
- Website: https://standoutcapital.com
- HQ: Oslo | Major office in Stockholm
- Stage: Growth (Series B+)
- Focus: Sustainability, software, e-commerce. Acts as a growth equity investor and “active owner.”
- Portfolio: Tibber (energy), Boozt (fashion e-commerce), Kahoot!.
- Sweden activity: One of the most prominent late-stage investors active in Stockholm.
- Website: https://verdane.com
FAMILY OFFICES & EVERGREEN INVESTORS
- HQ: Stockholm
- Stage: Late Seed & Series A
- Focus: Northern European SaaS and fintech scale-ups, long-term active ownership.
- Portfolio: Trustly (payments), Mentimeter (audience engagement), Quinyx (workforce SaaS).
- Website: https://alfvendidrikson.com
- HQ: Stockholm | Regional offices: 8 across Sweden
- Stage: Pre-Seed & Seed
- Focus: Broad — Tech, Life Sciences, Cleantech — Sweden-only. Works as a co-investor, de-risking early rounds alongside private VCs.
- Portfolio: Neo4j (graph database unicorn), Tobii (eye-tracking IPO), MIPS (helmet safety tech)
- Ticket Size: SEK 1–10 million (≈ €90k–900k).
- Website: https://almi.se
- HQ: Stockholm
- Stage: Pre-Seed & Seed
- Focus: Underrepresented founders & overlooked markets. Invests where traditional VCs don’t look.
- Portfolio: Transfer Galaxy (remittances), TrusTrace (supply chain), CemVision (green cement).
- Website: https://backingminds.com
- HQ: Stockholm
- Stage: Seed to Series B
- Focus: FinTech, Gaming, AI, and Health. Positions itself as a modern, founder-friendly VC.
- Portfolio: Worldfavor, Zevoy (fintech), Carasent (digital health).
- Website: https://brightlyventures.com
- HQ: Stockholm
- Stage: Early Growth (A–B, occasionally Seed–C)
- Focus: Consumer & media tech, digital services, fintech. Backed by Sweden’s media giant Bonnier.
- Portfolio: Acast (podcasting), Natural Cycles (digital contraception), Doktor.se.
- Website: https://bonniercapital.se
- HQ: Stockholm | Offices: Berlin, London, San Francisco
- Stage: Early-stage (Seed–A, with follow-on up to B)
- Focus: SaaS, FinTech, Consumer, Web3, and Climate. Highly selective, known for spotting companies with global potential early on.
- Portfolio: Spotify, iZettle (acquired by PayPal), Klarna, Trade Republic, Depop.
- Sweden activity: Stockholm HQ makes Creandum a cornerstone of the ecosystem, especially for early-stage consumer and fintech startups.
- Website: https://creandum.com
- HQ/Domicile: Luxembourg | Strong presence in Stockholm
- Stage: Multi-stage (Seed–Series C+)
- Focus: Broad tech — FinTech, SaaS, AI, Gaming, Biotech — with global ambitions. Operates like a startup itself, combining investment capital with an in-house “Motherbrain” AI platform for deal-scouting.
- Portfolio: Wolt (acquired by DoorDash), Einride (autonomous trucks), Small Giant Games (acquired by Zynga), Instabox.
- Sweden activity: One of Europe’s largest VC funds with deep Stockholm roots; often leads large, high-profile rounds.
- Website: https://eqtventures.com
- HQ: Stockholm
- Stage: Growth
- Focus: SaaS, FinTech, MedTech, Gaming & e-sports.
- Portfolio: VOI (micromobility), Truecaller, Revolut.
- Website: https://inboxcap.com
- HQ: Stockholm | Offices: Gothenburg & Uppsala
- Stage: Seed & Series A (with flexibility for later-stage follow-on)
- Focus: Deep Tech, Life Sciences, and transformative B2B tech.
- Portfolio: Oatly (plant-based foods), Qlik (analytics), Calliditas (rare disease biotech), Soundtrack Your Brand.
- Sweden activity: One of the largest evergreen funds in the Nordics; invests with long horizons and patience.
- Website: https://industrifonden.com
- HQ: Stockholm | Offices: London & Paris
- Stage: Pre-Seed & Seed
- Focus: Data/AI-driven B2B SaaS, Marketplaces, Climate Tech.
- Portfolio: Validio (data quality), Inex One (expert network platform).
- Sweden activity: Known for scouting very early opportunities in Stockholm’s AI/ML scene.
- Website: https://j12ventures.com
- HQ: Stockholm
- Stage: Pre-Seed & Seed
- Focus: SaaS, FinTech, AI, digital-first services. Known for hands-on support, founder coaching, and network-building.
- Portfolio: Mindler (digital mental health), Insurely (insurance data API), Movesta (proptech).
- Sweden activity: Actively investing across Sweden, with a clear focus on first institutional rounds.
- Website: https://luminarventures.com
- HQ: Stockholm
- Stage: Growth (Series A/B onwards)
- Focus: Enterprise B2B software, with emphasis on Northern Europe. Combines investment with operational experience (many partners are ex-operators).
- Portfolio: Matilda FoodTech, Pythagoras, Hypergene.
- Website: https://monterro.com
- HQ: Stockholm
- Stage: Seed & Series A
- Focus: FinTech — payments, open banking, and loyalty.
- Portfolio: Tink (open banking, acquired by Visa), Wrapp.
- Website: https://nftventures.com
- HQ: Stockholm
- Stage: Seed & Series A
- Focus: Impact Tech aligned with UN SDGs — climate, health, equality. Backed by the Norrsken Foundation, founded by Klarna co-founder Niklas Adalberth.
- Portfolio: Northvolt, Einride, Olio (food waste reduction), Aira (climate-friendly home energy).
- Sweden activity: Closely tied to Norrsken House, Stockholm’s impact hub, and one of Europe’s leading impact investors.
- Website: https://norrsken.vc
- HQ: London | Offices: Stockholm, New York, Berlin, Amsterdam, Oslo
- Stage: Early to Growth (Seed–B+)
- Focus: Consumer tech, SaaS, FinTech, AI; Europe & US. Known for its sharp eye on consumer behavior and global scaling potential.
- Portfolio: Spotify, Klarna, Trustpilot, Kahoot!, Personio, TrueLayer.
- Sweden activity: One of the first VCs to back Spotify; remains a heavyweight in Stockholm with regular new investments.
- Website: https://northzone.com
- HQ: Stockholm | Nordic presence
- Stage: Seed & Early Stage
- Focus: B2B SaaS, digital platforms, and software innovations. Focus on Nordic and UK startups ready to scale.
- Portfolio: Worldfavor (sustainability reporting), Defentry (cybersecurity), Apica.
- Sweden activity: A strong choice for B2B founders seeking experienced early-stage backers.
- Website: https://spintopventures.com
- HQ: Stockholm
- Stage: Growth (Series B / expansion capital)
- Focus: Enterprise SaaS & digital businesses in Nordics and Baltics.
- Portfolio: Kundo (customer support), Papirfly (brand management).
- Website: https://standoutcapital.com
- HQ: Oslo | Major office in Stockholm
- Stage: Growth (Series B+)
- Focus: Sustainability, software, e-commerce. Acts as a growth equity investor and “active owner.”
- Portfolio: Tibber (energy), Boozt (fashion e-commerce), Kahoot!.
- Sweden activity: One of the most prominent late-stage investors active in Stockholm.
- Website: https://verdane.com
Sweden offers a rich variety of accelerators and incubators — from nonprofit hubs and university-based venture builders to corporate-backed initiatives and international programs. They provide early-stage founders with a mix of funding, mentorship, lab access, and valuable corporate or investor connections.
Independent & Ecosystem-Based Programs
- HQ: Stockholm
- Stage: Late Seed & Series A
- Focus: Northern European SaaS and fintech scale-ups, long-term active ownership.
- Portfolio: Trustly (payments), Mentimeter (audience engagement), Quinyx (workforce SaaS).
- Website: https://alfvendidrikson.com
- HQ: Stockholm | Regional offices: 8 across Sweden
- Stage: Pre-Seed & Seed
- Focus: Broad — Tech, Life Sciences, Cleantech — Sweden-only. Works as a co-investor, de-risking early rounds alongside private VCs.
- Portfolio: Neo4j (graph database unicorn), Tobii (eye-tracking IPO), MIPS (helmet safety tech)
- Ticket Size: SEK 1–10 million (≈ €90k–900k).
- Website: https://almi.se
- HQ: Stockholm
- Stage: Pre-Seed & Seed
- Focus: Underrepresented founders & overlooked markets. Invests where traditional VCs don’t look.
- Portfolio: Transfer Galaxy (remittances), TrusTrace (supply chain), CemVision (green cement).
- Website: https://backingminds.com
- HQ: Stockholm
- Stage: Seed to Series B
- Focus: FinTech, Gaming, AI, and Health. Positions itself as a modern, founder-friendly VC.
- Portfolio: Worldfavor, Zevoy (fintech), Carasent (digital health).
- Website: https://brightlyventures.com
- HQ: Stockholm
- Stage: Early Growth (A–B, occasionally Seed–C)
- Focus: Consumer & media tech, digital services, fintech. Backed by Sweden’s media giant Bonnier.
- Portfolio: Acast (podcasting), Natural Cycles (digital contraception), Doktor.se.
- Website: https://bonniercapital.se
- HQ: Stockholm | Offices: Berlin, London, San Francisco
- Stage: Early-stage (Seed–A, with follow-on up to B)
- Focus: SaaS, FinTech, Consumer, Web3, and Climate. Highly selective, known for spotting companies with global potential early on.
- Portfolio: Spotify, iZettle (acquired by PayPal), Klarna, Trade Republic, Depop.
- Sweden activity: Stockholm HQ makes Creandum a cornerstone of the ecosystem, especially for early-stage consumer and fintech startups.
- Website: https://creandum.com
- HQ/Domicile: Luxembourg | Strong presence in Stockholm
- Stage: Multi-stage (Seed–Series C+)
- Focus: Broad tech — FinTech, SaaS, AI, Gaming, Biotech — with global ambitions. Operates like a startup itself, combining investment capital with an in-house “Motherbrain” AI platform for deal-scouting.
- Portfolio: Wolt (acquired by DoorDash), Einride (autonomous trucks), Small Giant Games (acquired by Zynga), Instabox.
- Sweden activity: One of Europe’s largest VC funds with deep Stockholm roots; often leads large, high-profile rounds.
- Website: https://eqtventures.com
- HQ: Stockholm
- Stage: Growth
- Focus: SaaS, FinTech, MedTech, Gaming & e-sports.
- Portfolio: VOI (micromobility), Truecaller, Revolut.
- Website: https://inboxcap.com
- HQ: Stockholm | Offices: Gothenburg & Uppsala
- Stage: Seed & Series A (with flexibility for later-stage follow-on)
- Focus: Deep Tech, Life Sciences, and transformative B2B tech.
- Portfolio: Oatly (plant-based foods), Qlik (analytics), Calliditas (rare disease biotech), Soundtrack Your Brand.
- Sweden activity: One of the largest evergreen funds in the Nordics; invests with long horizons and patience.
- Website: https://industrifonden.com
- HQ: Stockholm | Offices: London & Paris
- Stage: Pre-Seed & Seed
- Focus: Data/AI-driven B2B SaaS, Marketplaces, Climate Tech.
- Portfolio: Validio (data quality), Inex One (expert network platform).
- Sweden activity: Known for scouting very early opportunities in Stockholm’s AI/ML scene.
- Website: https://j12ventures.com
- HQ: Stockholm
- Stage: Pre-Seed & Seed
- Focus: SaaS, FinTech, AI, digital-first services. Known for hands-on support, founder coaching, and network-building.
- Portfolio: Mindler (digital mental health), Insurely (insurance data API), Movesta (proptech).
- Sweden activity: Actively investing across Sweden, with a clear focus on first institutional rounds.
- Website: https://luminarventures.com
- HQ: Stockholm
- Stage: Growth (Series A/B onwards)
- Focus: Enterprise B2B software, with emphasis on Northern Europe. Combines investment with operational experience (many partners are ex-operators).
- Portfolio: Matilda FoodTech, Pythagoras, Hypergene.
- Website: https://monterro.com
- HQ: Stockholm
- Stage: Seed & Series A
- Focus: FinTech — payments, open banking, and loyalty.
- Portfolio: Tink (open banking, acquired by Visa), Wrapp.
- Website: https://nftventures.com
- HQ: Stockholm
- Stage: Seed & Series A
- Focus: Impact Tech aligned with UN SDGs — climate, health, equality. Backed by the Norrsken Foundation, founded by Klarna co-founder Niklas Adalberth.
- Portfolio: Northvolt, Einride, Olio (food waste reduction), Aira (climate-friendly home energy).
- Sweden activity: Closely tied to Norrsken House, Stockholm’s impact hub, and one of Europe’s leading impact investors.
- Website: https://norrsken.vc
- HQ: London | Offices: Stockholm, New York, Berlin, Amsterdam, Oslo
- Stage: Early to Growth (Seed–B+)
- Focus: Consumer tech, SaaS, FinTech, AI; Europe & US. Known for its sharp eye on consumer behavior and global scaling potential.
- Portfolio: Spotify, Klarna, Trustpilot, Kahoot!, Personio, TrueLayer.
- Sweden activity: One of the first VCs to back Spotify; remains a heavyweight in Stockholm with regular new investments.
- Website: https://northzone.com
- HQ: Stockholm | Nordic presence
- Stage: Seed & Early Stage
- Focus: B2B SaaS, digital platforms, and software innovations. Focus on Nordic and UK startups ready to scale.
- Portfolio: Worldfavor (sustainability reporting), Defentry (cybersecurity), Apica.
- Sweden activity: A strong choice for B2B founders seeking experienced early-stage backers.
- Website: https://spintopventures.com
- HQ: Stockholm
- Stage: Growth (Series B / expansion capital)
- Focus: Enterprise SaaS & digital businesses in Nordics and Baltics.
- Portfolio: Kundo (customer support), Papirfly (brand management).
- Website: https://standoutcapital.com
- HQ: Oslo | Major office in Stockholm
- Stage: Growth (Series B+)
- Focus: Sustainability, software, e-commerce. Acts as a growth equity investor and “active owner.”
- Portfolio: Tibber (energy), Boozt (fashion e-commerce), Kahoot!.
- Sweden activity: One of the most prominent late-stage investors active in Stockholm.
- Website: https://verdane.com
university based PROGRAMS
- HQ: Stockholm
- Stage: Late Seed & Series A
- Focus: Northern European SaaS and fintech scale-ups, long-term active ownership.
- Portfolio: Trustly (payments), Mentimeter (audience engagement), Quinyx (workforce SaaS).
- Website: https://alfvendidrikson.com
- HQ: Stockholm | Regional offices: 8 across Sweden
- Stage: Pre-Seed & Seed
- Focus: Broad — Tech, Life Sciences, Cleantech — Sweden-only. Works as a co-investor, de-risking early rounds alongside private VCs.
- Portfolio: Neo4j (graph database unicorn), Tobii (eye-tracking IPO), MIPS (helmet safety tech)
- Ticket Size: SEK 1–10 million (≈ €90k–900k).
- Website: https://almi.se
- HQ: Stockholm
- Stage: Pre-Seed & Seed
- Focus: Underrepresented founders & overlooked markets. Invests where traditional VCs don’t look.
- Portfolio: Transfer Galaxy (remittances), TrusTrace (supply chain), CemVision (green cement).
- Website: https://backingminds.com
- HQ: Stockholm
- Stage: Seed to Series B
- Focus: FinTech, Gaming, AI, and Health. Positions itself as a modern, founder-friendly VC.
- Portfolio: Worldfavor, Zevoy (fintech), Carasent (digital health).
- Website: https://brightlyventures.com
- HQ: Stockholm
- Stage: Early Growth (A–B, occasionally Seed–C)
- Focus: Consumer & media tech, digital services, fintech. Backed by Sweden’s media giant Bonnier.
- Portfolio: Acast (podcasting), Natural Cycles (digital contraception), Doktor.se.
- Website: https://bonniercapital.se
- HQ: Stockholm | Offices: Berlin, London, San Francisco
- Stage: Early-stage (Seed–A, with follow-on up to B)
- Focus: SaaS, FinTech, Consumer, Web3, and Climate. Highly selective, known for spotting companies with global potential early on.
- Portfolio: Spotify, iZettle (acquired by PayPal), Klarna, Trade Republic, Depop.
- Sweden activity: Stockholm HQ makes Creandum a cornerstone of the ecosystem, especially for early-stage consumer and fintech startups.
- Website: https://creandum.com
- HQ/Domicile: Luxembourg | Strong presence in Stockholm
- Stage: Multi-stage (Seed–Series C+)
- Focus: Broad tech — FinTech, SaaS, AI, Gaming, Biotech — with global ambitions. Operates like a startup itself, combining investment capital with an in-house “Motherbrain” AI platform for deal-scouting.
- Portfolio: Wolt (acquired by DoorDash), Einride (autonomous trucks), Small Giant Games (acquired by Zynga), Instabox.
- Sweden activity: One of Europe’s largest VC funds with deep Stockholm roots; often leads large, high-profile rounds.
- Website: https://eqtventures.com
- HQ: Stockholm
- Stage: Growth
- Focus: SaaS, FinTech, MedTech, Gaming & e-sports.
- Portfolio: VOI (micromobility), Truecaller, Revolut.
- Website: https://inboxcap.com
- HQ: Stockholm | Offices: Gothenburg & Uppsala
- Stage: Seed & Series A (with flexibility for later-stage follow-on)
- Focus: Deep Tech, Life Sciences, and transformative B2B tech.
- Portfolio: Oatly (plant-based foods), Qlik (analytics), Calliditas (rare disease biotech), Soundtrack Your Brand.
- Sweden activity: One of the largest evergreen funds in the Nordics; invests with long horizons and patience.
- Website: https://industrifonden.com
- HQ: Stockholm | Offices: London & Paris
- Stage: Pre-Seed & Seed
- Focus: Data/AI-driven B2B SaaS, Marketplaces, Climate Tech.
- Portfolio: Validio (data quality), Inex One (expert network platform).
- Sweden activity: Known for scouting very early opportunities in Stockholm’s AI/ML scene.
- Website: https://j12ventures.com
- HQ: Stockholm
- Stage: Pre-Seed & Seed
- Focus: SaaS, FinTech, AI, digital-first services. Known for hands-on support, founder coaching, and network-building.
- Portfolio: Mindler (digital mental health), Insurely (insurance data API), Movesta (proptech).
- Sweden activity: Actively investing across Sweden, with a clear focus on first institutional rounds.
- Website: https://luminarventures.com
- HQ: Stockholm
- Stage: Growth (Series A/B onwards)
- Focus: Enterprise B2B software, with emphasis on Northern Europe. Combines investment with operational experience (many partners are ex-operators).
- Portfolio: Matilda FoodTech, Pythagoras, Hypergene.
- Website: https://monterro.com
- HQ: Stockholm
- Stage: Seed & Series A
- Focus: FinTech — payments, open banking, and loyalty.
- Portfolio: Tink (open banking, acquired by Visa), Wrapp.
- Website: https://nftventures.com
- HQ: Stockholm
- Stage: Seed & Series A
- Focus: Impact Tech aligned with UN SDGs — climate, health, equality. Backed by the Norrsken Foundation, founded by Klarna co-founder Niklas Adalberth.
- Portfolio: Northvolt, Einride, Olio (food waste reduction), Aira (climate-friendly home energy).
- Sweden activity: Closely tied to Norrsken House, Stockholm’s impact hub, and one of Europe’s leading impact investors.
- Website: https://norrsken.vc
- HQ: London | Offices: Stockholm, New York, Berlin, Amsterdam, Oslo
- Stage: Early to Growth (Seed–B+)
- Focus: Consumer tech, SaaS, FinTech, AI; Europe & US. Known for its sharp eye on consumer behavior and global scaling potential.
- Portfolio: Spotify, Klarna, Trustpilot, Kahoot!, Personio, TrueLayer.
- Sweden activity: One of the first VCs to back Spotify; remains a heavyweight in Stockholm with regular new investments.
- Website: https://northzone.com
- HQ: Stockholm | Nordic presence
- Stage: Seed & Early Stage
- Focus: B2B SaaS, digital platforms, and software innovations. Focus on Nordic and UK startups ready to scale.
- Portfolio: Worldfavor (sustainability reporting), Defentry (cybersecurity), Apica.
- Sweden activity: A strong choice for B2B founders seeking experienced early-stage backers.
- Website: https://spintopventures.com
- HQ: Stockholm
- Stage: Growth (Series B / expansion capital)
- Focus: Enterprise SaaS & digital businesses in Nordics and Baltics.
- Portfolio: Kundo (customer support), Papirfly (brand management).
- Website: https://standoutcapital.com
- HQ: Oslo | Major office in Stockholm
- Stage: Growth (Series B+)
- Focus: Sustainability, software, e-commerce. Acts as a growth equity investor and “active owner.”
- Portfolio: Tibber (energy), Boozt (fashion e-commerce), Kahoot!.
- Sweden activity: One of the most prominent late-stage investors active in Stockholm.
- Website: https://verdane.com
Sweden offers one of Europe’s most comprehensive public support systems for startups. This framework blends non‑dilutive grants, loans, public venture capital, tax incentives and regional development initiatives. Used strategically, these instruments can provide the earliest capital, de‑risk private investment and extend a startup’s runway. Below is an updated overview of the most relevant programs.
NATIONAL GRANTS AND FUNDING AGENCIES
We are a leading firm in providing quality and value to our customers. Each member of our team has at least 5 years of legal experience. We love what we do.
Our managers are always ready to answer your questions. You can call us during the weekends and at night. Also, you can visit our office for a personal consultation.
Our company works according to the principle of individual approach to every client. This method allows us to succeed in tasks of any level.
LOANS AND PUBLIC VENTURE CAPITAL
We are a leading firm in providing quality and value to our customers. Each member of our team has at least 5 years of legal experience. We love what we do.
Our managers are always ready to answer your questions. You can call us during the weekends and at night. Also, you can visit our office for a personal consultation.
Our company works according to the principle of individual approach to every client. This method allows us to succeed in tasks of any level.
TAX INCENTIVES
We are a leading firm in providing quality and value to our customers. Each member of our team has at least 5 years of legal experience. We love what we do.
Our managers are always ready to answer your questions. You can call us during the weekends and at night. Also, you can visit our office for a personal consultation.
Our company works according to the principle of individual approach to every client. This method allows us to succeed in tasks of any level.
REGIONAL AND MUNICIPAL CAPITAL
We are a leading firm in providing quality and value to our customers. Each member of our team has at least 5 years of legal experience. We love what we do.
Our managers are always ready to answer your questions. You can call us during the weekends and at night. Also, you can visit our office for a personal consultation.
Our company works according to the principle of individual approach to every client. This method allows us to succeed in tasks of any level.
BUILD & OPERATE
connect & promote