All the first-time VC funds launched in the Nordics in 2022
The new Nordic funds are most likely to be sector-focused funds and have a Nordic mandate. Climate, Sustainability and Fintech will be the main Nordic sectors of focus.
The Nordics is an emerging VC ecosystem. Almost 50% of the Nordic fund managers are investing and managing their first fund, and more than 65 first-time funds have been successfully launched since 2018.
2022 promised to be and has been a record year for the Nordic venture ecosystem. 19 new first-time funds have been launched in the Nordic region from January to December of 2022, targeting over €700m in assets under management (AUM) combined.
The new Nordic funds are most likely to be sector-focused funds, have a Nordic mandate (vs a country-focused mandate), and target an average fund size of over €40m. Climate, Sustainability and Fintech will be the leading sectors in the Nordic venture ecosystem.
Have we missed any information? Let us know at virginia@vcchallenge.com
Denmark (9 funds) 🇩🇰
- Fund size (target): €50m
- Geographic focus: Europe
- Sector focus: FinTech, Web3, CleanTech
- Fund size (target): Undisclosed
- Geographic focus: Europe / Global
- Sector focus: ClimateTech
- Fund size (target): €100m
- Geographic focus: Nordics
- Sector focus: Generalist, Digital Health, B2B Software
- Fund size (target): Undisclosed
- Geographic focus: Denmark
- Sector focus: Green business models
- Fund size (target): €30m
- Geographic focus: Northern Europe
- Sector focus: Smart Societies, Industry 4.0, Digital Health, Data Privacy
- Fund size (target): €20m
- Geographic focus: Denmark
- Sector focus: Generalist, B2B SaaS.
- Fund size (target): €30m
- Geographic focus: Nordics
- Sector focus: Underrepresented founder
- Fund size (target): €30m
- Geographic focus: Nordics
- Sector focus: Fintech
- Fund size: Undisclosed
- Geographic focus: Nordics
- Sector focus: HiTech, DeepTech, B2B SaaS & PaaS
Norway (5 funds) 🇳🇴
- Fund size (target): €100m
- Geographic focus: Nordics
- Sector focus: Industrial Tech, ClimateTech
- Fund size (target): Undisclosed
- Geographic focus: Norway
- Sector focus: Ocean
- Fund size (target): €10m
- Geographic focus: Norway
- Sector focus: Smart Cities, AI, Energy
- Fund size (target): €50m
- Geographic focus: Nordics
- Sector focus: Generalist, B2B SaaS, Marketplaces
- Fund size (target): €17m
- Geographic focus: Norway
- Sector focus: Generalist
Sweden (5 funds) 🇸🇪
- Fund size (target): €30m
- Geographic focus: Nordics
- Sector focus: SaaS
- Fund size (target): €26m
- Geographic focus: Nordics
- Sector focus: Gaming
- Fund size (target): €80m
- Geographic focus: Nordics
- Sector focus: Generalist
- Fund size (target): €5m
- Geographic focus: Europe
- Sector focus: SpaceTech
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