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1. Almi Invest
Headquarters: Lund, Sweden
Founded: 2009
Entry Stage: Seed
Geography: Sweden (primary), United States
Website: https://www.almi.se/en/venture-capital/
Almi Invest is the investment arm of Sweden’s state-owned Almi Group and stands out as the country’s most active early-stage VC. With eight regional funds—and a national GreenTech fund—they deploy capital across technology, life sciences, industry and cleantech, helping local founders scale into global players.
2. Sting
Headquarters: Stockholm, Sweden | Founded: 2002 | Entry Stages: Seed, Angel | Geography: Sweden (primary), United States | Website: https://www.sting.co/
Sting operates as Sweden’s premier incubator and accelerator—combining hands-on coaching, a deep community network and funding (via its Propel Capital vehicle)—to nurture early-stage ClimateTech, HealthTech, Digital Society and AI startups.
3. Connect Ventures
Headquarters: London, UK
Founded: 2012
Entry Stage: Seed
Geography: United Kingdom (primary), United States
Website: https://www.connectventures.co/
Connect Ventures is a partner-only, Europe-wide seed fund that zeroes in on product-led companies—from SaaS and data infrastructure to AI and fintech—backing founders with both capital and operational support.
4. Cherry Ventures
Headquarters: Berlin, Germany
Founded: 2012
Entry Stage: Seed
Geography: Germany (primary), United Kingdom
Website: https://cherry.vc/en/
Founded by former entrepreneurs, Cherry Ventures takes a “founders first” approach—investing across SaaS, mobility, gaming and space tech—and operates out of hubs in Berlin, London and Stockholm.
5. Inventure
Headquarters: Helsinki, Finland
Founded: 2005
Entry Stage: Seed
Geography: Finland (primary), Sweden
Website: https://www.inventure.vc/
As a generalist Nordic-Baltic fund, Inventure backs deep-tech, consumer, healthtech and B2B SaaS startups with tickets ranging from €300 k to €5 M, leveraging over 15 years of seed-stage experience.
6. Almi
Headquarters: Stockholm, Sweden
Founded: 1994
Entry Stage: Seed
Geography: Sweden
Website: https://www.almi.se/en/
Distinct from Almi Invest, Almi is the broader SME support agency—offering loans, hands-on business development and direct VC—to spur innovation and growth across Sweden’s entrepreneurial landscape.
7. Butterfly Ventures
Headquarters: Oulu, Finland
Founded: 2010
Entry Stage: Seed
Geography: Finland (primary), Sweden
Website: https://butterfly.vc/
One of the Nordics’ top deep-tech VCs, Butterfly invests heavily in hardware, software and life-science startups, with offices spanning Oulu, Helsinki, Stockholm, Tallinn and Copenhagen.
8. Creandum
Headquarters: Stockholm, Sweden
Founded: 2003
Entry Stage: Seed
Geography: Sweden, Germany
Website: https://creandum.com/
Creandum has backed some of Europe’s biggest success stories—Spotify, iZettle, Klarna—offering capital and founder-centric support from its Stockholm, Berlin, London and San Francisco offices.
9. Chalmers Ventures
Headquarters: Gothenburg, Sweden
Founded: 2015
Entry Stage: Seed
Geography: Sweden (primary), United States
Website: https://chalmersventures.com/
Embedded in the Chalmers research ecosystem, this deep-tech VC and venture builder helps spin out cutting-edge technologies into commercial ventures across software, biotech and advanced manufacturing.
10. Peak
Headquarters: Amsterdam, Netherlands
Founded: 2007
Entry Stages: Seed, Angel
Geography: Netherlands, Germany
Website: https://peak.capital/
Peak is a founders-backed early-stage fund with €125 M under management, focusing on SaaS, marketplaces and platform plays—and providing hands-on go-to-market support.
11. Industrifonden
Headquarters: Stockholm, Sweden
Founded: 1979
Entry Stages: Seed, Angel
Geography: Sweden, Denmark
Website: https://industrifonden.com/
As Sweden’s original government-backed VC, Industrifonden partners with deep-tech, life-science and transformative ventures—helping Nordic innovations reach global markets.
12. Atomico
Headquarters: London, UK
Founded: 2006
Entry Stage: Seed
Geography: UK (primary), United States
Website: https://atomico.com/
Founded by Skype co-founder Niklas Zennström, Atomico deploys growth capital and operational expertise to help world-changing tech companies scale from Europe to the globe.
13. ByFounders
Headquarters: Copenhagen, Denmark
Founded: 2017
Entry Stage: Seed
Geography: Denmark, United States
Website: https://www.byfounders.vc/
ByFounders is a community-powered fund—backed by 40+ Nordic/Baltic founders and operators—that invests pre-seed and seed in impact-driven, globally ambitious startups.
14. Northzone
Headquarters: London, UK
Founded: 1996
Entry Stages: Seed, Angel
Geography: United States, Sweden
Website: https://northzone.com/
With over €1 billion raised in 2022, Northzone partners from seed to growth—leveraging its multi-stage expertise and offices in London, Stockholm and New York City to back category-defining teams.
15. EQT Ventures
Headquarters: Stockholm, Sweden
Founded: 2015
Entry Stage: Seed
Geography: Germany, United Kingdom
Website: https://eqtventures.com/
Part of the EQT ecosystem, EQT Ventures invests €2–50 M tickets in European founders, supported by a 45-person team across six major tech hubs.
16. Everywhere
Headquarters: New York City, USA
Founded: 2017
Entry Stage: Seed
Geography: United States (primary), United Kingdom
Website: https://everywhere.vc/
Everywhere is a founder-collective fund with a global mindset—investing in tomorrow’s leaders across money, health and work, regardless of borders.
17. Alliance Ventures
Headquarters: Oslo, Norway
Founded: 2001
Entry Stage: Seed
Geography: Norway, United States
Website: https://alliance.vc/
Run by ex-operators and founders of unicorns, Alliance Ventures backs Nordic tech companies with global ambition—providing not just capital but hands-on scale-up expertise.
18. Luminar Ventures
Headquarters: Stockholm, Sweden
Founded: 2017
Entry Stage: Seed
Geography: Sweden, Denmark
Website: https://www.luminarventures.com/
One of the Nordics’ most active seed VCs, Luminar is run by former founders and angels—offering both financing and operational support to help startups find product-market fit.
19. Norrsken VC
Headquarters: Stockholm, Sweden
Founded: 2016
Entry Stage: Seed
Geography: Sweden, United Kingdom
Website: https://www.norrsken.vc/
Part of the Norrsken Foundation (founded by Klarna’s Niklas Adalberth), Norrsken VC is Europe’s leading impact-focused early-stage fund—backing ventures that tackle world challenges while delivering returns.
20. Spintop Ventures
Headquarters: Stockholm, Sweden
Entry Stage: Seed
Geography: Sweden (primary)
Website: https://spintopventures.com/
Spintop Ventures is a Nordic tech VC dedicated to supporting software-powered companies on their journey to become sector leaders and drive sustainable transformation.