Growth
Top Nordic Venture Capital Firms For Startups (2025)
Written by
Lineke Kruisinga
Published on
April 25, 2025
Written by
Published on
These 20 VCs bring strategy, networks, and global ambition. Ranked by deal activity, this list spotlights the most active investors across Sweden, Norway, Finland, Denmark, and Iceland.
Location: Sweden-wide
Sweden’s busiest seed investor with regional and national funds, including a dedicated GreenTech fund. Extremely high deal volume at pre-seed and seed levels.
💰 Size: €100K–€500K
📍 Stage: Pre-seed to Seed
Location: Oslo
Combines incubation and early-stage VC, and is one of Norway’s most active seed investors. Known for hands-on founder support.
💰 Size: €100K–€300K
📍 Stage: Pre-seed to Seed
Location: Stockholm (global presence)
Early-stage giant with a global footprint. Regularly among the first investors in standout Nordic startups.
💰 Size: €500K–€5M
📍 Stage: Pre-seed to Series A
Location: Copenhagen
One of Denmark’s most active VCs, backing major successes like Vivino. Consistent deal flow in healthtech, fintech, and SaaS.
💰 Size: €500K–€5M
📍 Stage: Seed to Series A
Location: Helsinki
Founder-led and deeply involved. Highly active across pre-seed and seed stages in gaming, SaaS, and health.
💰 Size: €500K–€1M
📍 Stage: Pre-seed to Seed
Location: Copenhagen
Denmark’s go-to for zero-to-one founders. High activity at pre-seed, focusing on ambitious early teams.
💰 Size: €250K–€1M
📍 Stage: Pre-seed
Location: Stockholm
One of Europe’s biggest VCs with strong activity in the Nordics from seed to growth, powered by AI-driven deal sourcing.
💰 Size: €2M–€75M+
📍 Stage: Seed to Growth
Location: Oslo (also active in Sweden & Finland)
Active across Norway, Sweden, and Finland. Backs early-stage SaaS and B2B founders looking to scale internationally.
💰 Size: €500K–€3M
📍 Stage: Seed to Series A
Location: Helsinki
Active B2B SaaS seed investor with recurring revenue focus and strong Nordic presence.
💰 Size: €300K–€3M
📍 Stage: Seed to Series A
Location: Helsinki
Active seed investor backing brave B2B startups across Finland and the Baltics with cross-border thinking.
💰 Size: €100K–€500K
📍 Stage: Seed
Location: Oslo
Early believer in technical founders, with growing deal volume in seed and Series A.
💰 Size: €300K–€2M
📍 Stage: Seed to Series A
Location: Helsinki
Deep tech and data-led software investor, actively backing seed and Series A rounds.
💰 Size: €1M–€5M
📍 Stage: Seed to Series A
Location: Oslo
Impact-focused VC backing sustainable, scalable startups aligned with SFDR Article 9.
💰 Size: €500K–€5M
📍 Stage: Seed to Series A
Location: Stockholm
Invests in overlooked opportunities and underrepresented founders, making active seed-stage investments.
💰 Size: €250K–€1M
📍 Stage: Seed
Location: Stockholm
Impact VC with frequent seed and Series A investments in purpose-driven startups.
💰 Size: €1M–€5M
📍 Stage: Seed to Series A
Location: Oslo
Founded by StartupLab alumni, this fund is highly active in pre-seed and seed rounds for industrial software and sustainability startups.
💰 Size: €300K–€2M
📍 Stage: Pre-seed to Series A
Location: Copenhagen
A global seed accelerator with strong deal activity across clean tech, biotech, and medtech.
💰 Size: €100K–€300K
📍 Stage: Pre-seed to Seed
Location: Oslo
Early-stage VC backing globally focused founders in deep tech, gaming, and productivity.
💰 Size: €500K–€3M
📍 Stage: Seed to Series A
Location: Malmö
Specialized seed-stage climate tech fund with growing activity in decarbonization startups.
💰 Size: €500K–€2M
📍 Stage: Seed
Location: Oslo
Corporate-backed VC supporting B2B innovators with both capital and strategic support.
💰 Size: €500K–€3M
📍 Stage: Seed to Series A
Location: Helsinki
Government-backed investor active at both company and fund level, supporting scale-ups and fund-of-funds.
💰 Size: €1M–€20M+
📍 Stage: Seed to Growth
🌐Tesi
Location: Stockholm
Long-term, evergreen VC focusing on deep tech and life sciences. Steady activity across seed and Series A.
💰 Size: €1M–€10M
📍 Stage: Seed to Series A
Location: Copenhagen
Government VC fund backing R&D-heavy and climate-focused ventures early on.
💰 Size: Variable
📍 Stage: R&D to Seed
Location: Trondheim
Norway’s largest VC fund investing across sectors, both directly and through other funds.
💰 Size: €1M–€10M+
📍 Stage: Seed to Growth
Location: Oslo & Stockholm
Life sciences specialist fund supported by top Nordic and US institutions. Focused on biotech breakthroughs.
💰 Size: €1M–€10M+
📍 Stage: Seed to Series B
Location: Stockholm
One of Europe’s largest life sciences investors with €1.2B raised. Larger ticket sizes, fewer deals.
💰 Size: €2M–€15M+
📍 Stage: Seed to Growth
Location: Stavanger
State climate fund active at growth stage, backing large-scale emission-reduction tech companies.
💰 Size: €2M–€10M+
📍 Stage: Growth
Location: Reykjavik
Iceland’s leading post-seed investor supporting globally minded startups.
💰 Size: €500K–€3M
📍 Stage: Seed to Series A
The Nordics are a startup-friendly region and 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.
Below you find top VC firms per country in the Nordics:
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
