Growth
Top 20 Venture Capital Firms in Norway in 2025
Written by
Lineke Kruisinga
Published on
October 17, 2025
Written by
Published on
Looking to raise funding in Norway? These are the VCs you should know.
Norway’s startup ecosystem is growing fast, especially in climate tech, SaaS, energy, fintech, and deep tech. From prolific early-stage investors to specialized sector funds, these 20 VC firms are active, founder-focused, and driving innovation across the Nordics.
Ranked by deal activity, this list highlights the most active investors in Norway’s startup scene and the key details you need to know.
📍 Location: Trondheim
Norway’s largest VC fund with over $500M in assets. Investinor backs companies contributing to national growth across climate, energy, healthcare, and more.
💰 Size: $4M–$6M
📍 Stage: Seed to Growth
🌐 Investinor
📍 Location: Oslo
A leading accelerator and VC focusing on impact startups in climate, ocean, and agri-tech. With 160+ investments, Katapult is a major player in Norway’s early-stage scene.
💰 Size: $150K–$500K
📍 Stage: Pre-seed to Seed
🌐 Katapult
📍 Location: Oslo
An active early-stage investor focusing on developer tools, fintech, crypto, and web3. Skyfall backs bold tech founders and has quickly grown its portfolio.
💰 Size: Up to $5M
📍 Stage: Pre-seed to Series A
🌐 Skyfall Ventures
📍 Location: Oslo
A Nordic fund investing in exceptional early-stage tech companies and purpose-driven founders with global ambitions.
💰 Size: $3M
📍 Stage: Seed to Series A
🌐 Alliance VC
📍 Location: Oslo
A leading European life science fund focusing on pharma, medtech, and digital health. Invests in Nordic startups with high growth potential.
💰 Size: $50K–$300K
📍 Stage: Early to Growth
🌐 Hadean Ventures
📍 Location: Düsseldorf / Active in Norway
The corporate VC arm of Statkraft, investing in software-driven energy and climate tech startups across Europe.
💰 Size: €3M–€20M
📍 Stage: Early to Growth
🌐 Statkraft Ventures
📍 Location: Oslo
Backs visionary founders building transformative Nordic tech companies. Known for early bets on companies like Kahoot and Unacast.
💰 Size: $150K–$1M
📍 Stage: Seed to Series A
🌐 SNÖ Ventures
📍 Location: Oslo
A fast-growing VC with over 1bn NOK under management. Focused on B2B software and scaling ambitious Norwegian tech startups.
💰 Size: ~$1M
📍 Stage: Seed to Growth
🌐 Idekapital
📍 Location: Trondheim
One of Norway’s leading seed VCs, investing in digital technology startups with sustainable business models.
💰 Size: $500K–$2M
📍 Stage: Seed to Series A
🌐 ProVenture
📍 Location: Oslo
A strategic minority investor supporting sustainable business growth, especially in emerging markets and impact-focused ventures.
💰 Size: Varies
📍 Stage: Growth
🌐 Norfund
📍 Location: Oslo
Invests in ambitious early-stage B2B tech startups. Known for backing fintech and SaaS companies at pre-seed and seed stages.
💰 Size: $100K–$3M
📍 Stage: Pre-seed to Series A
🌐 Arkwright X
📍 Location: Trondheim
Linked to SINTEF, one of Europe’s largest research organizations. Focuses on commercializing IP and deep tech ventures.
💰 Size: $250K–$3M
📍 Stage: Early to Growth
🌐 SINTEF Venture
📍 Location: Stavanger
Specializes in energy innovation and deep tech. Backing technologies that accelerate the energy transition.
💰 Size: $1M–$10M+
📍 Stage: Series A to Growth
🌐 EV Private Equity
📍 Location: Lysaker
A family-owned investment company active in social entrepreneurship and venture capital, supporting scalable Norwegian businesses.
💰 Size: Varies
📍 Stage: Seed to Growth
🌐 Ferd
📍 Location: Fornebu
Founded by top Norwegian entrepreneurs, RunwayFBU backs software-driven startups tackling global challenges.
💰 Size: $2M–$3M
📍 Stage: Seed to Series A
🌐 RunwayFBU
📍 Location: Oslo
Part of the global Antler network, Antler Norway backs founders from day zero. Known for its pre-seed accelerator and strong deal flow, it has quickly become one of the most active early-stage investors in the country.
💰 Size: $100K–$500K
📍 Stage: Pre-seed to Seed
🌐 Antler
📍 Location: Oslo
Sandwater is an Oslo-based impact and climate tech VC investing in early-stage companies that address major global challenges. They focus on scalable solutions in climate, ocean, health, and education.
💰 Size: $500K–$5M
📍 Stage: Seed to Series A
🌐 Sandwater
📍 Location: Oslo
Spring Capital is an early-stage investor backing ambitious Nordic founders in SaaS, fintech, and digital innovation. Known for their founder-focused approach and active deal flow in Norway.
💰 Size: $250K–$2M
📍 Stage: Pre-seed to Series A
🌐 Spring Capital
📍 Location: Oslo
Closely tied to StartupLab accelerator, this fund is highly active at the earliest stages of Norwegian tech innovation.
💰 Size: $50K–$500K
📍 Stage: Pre-seed to Seed
🌐 StartupLab
📍 Location: Trondheim
Specializes in B2B SaaS growth investments, backing some of Norway’s most successful scale-ups.
💰 Size: $1M–$10M+
📍 Stage: Series A to Growth
🌐 Viking Venture
Norway’s VC scene is thriving blending large evergreen investors like Investinor, sector specialists like Hadean and Katapult, and a wave of agile early-stage funds. Whether you’re building in SaaS, climate tech, or deep tech, these 20 firms are shaping Norway’s next generation of global startups.
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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
