27 Best Active Investors in Norway in 2024

Over the past decade, Europe has become the second largest technology ecosystem in the world, creating startups solving problems worth solving in society. Behind many of these companies are investors who provide not just funds but also guidance and support.


Our 2024 list brings together the most notable investors from across the continent, with everyone listed having a track record of making strategic investments in generation-defining companies. These rankings are the result of tracking investment activity across 17,000+ companies and +2,500 venture capital investors Europe, and includes funds who have invested in at least 5 European companies in the past year, regardless of where they are HQ'd.


Whether you're a budding entrepreneur seeking the right funding partner, an investor looking for co-investment opportunities, or simply curious about the financial powerhouses investing in Europe, this list provides invaluable insights into the region.


Last update to the database: Dec 10, 2024. See changelog.


Icon Investor Rankings are calculated using our Seedtable Score – a 1 to 100 score that uses quantitative and qualitative data points (like the size of their fund or the quality of the companies they invested in) to signal the strength behind an investor. A score closer to 100 indicates an investor is worth watching closely.

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List of 27 top Norway VCs

Sandwater is a venture capital fund based in Oslo, investing in Series A and Series B stages with check sizes from $1 million to $10 million. They focus on technology, health, manufacturing, agriculture, and environmental solutions. Notable investments include 1X, CardioSignal, and FarmInsect. Sandwater supports companies aiming to make a significant impact on society and the planet.

28

Offices:

Oslo (HQ)

Investment Stage:

Series A, Series B

Check Size:

$10M - $100M

Industries:

Climate Tech & Green Tech, Health Tech, Agritech

Top investments in Norway:

1X (
78)
, CardioSignal (
28)
, FarmInsect (
28)

Alliance Venture is a venture capital fund based in Oslo. They focus on early to later-stage tech companies across industries, including electric vehicles, green tech, AI, and fintech. Their goal is to help startups grow and succeed with flexible investment sizes. Notable investments include The Mobility House and Apexx Global.

26

Offices:

Oslo (HQ)

Palo Alto

Stockholm

Investment Stage:

Pre Seed, Seed, Series A, Series B, Series C, Unknown

Check Size:

$2.5M - $70M

Industries:

Climate Tech & Green Tech, FinTech, Foodtech

Top investments in Norway:

Apexx Global (
52)
, Oda (
52)
, The Mobility House (
46)

ArcTern Ventures is a cleantech venture capital fund based in Toronto, Canada.

26

Offices:

San Francisco

Oslo

Investment Stage:

Series B, Unknown

Check Size:

$10M - $40M

Industries:

Climate Tech & Green Tech, Energy & Nuclear, Manufacturing

Top investments in Norway:

Soly (
41)

Statkraft Ventures invests in ambitious entrepreneurs building the software-driven energy incumbents of tomorrow

25

Offices:

Düsseldorf (HQ)

Oslo

Investment Stage:

Seed, Series A, Series B, Series C, Unknown

Check Size:

$100k - $250M

Industries:

Climate Tech & Green Tech, Govtech, Hardware

Top investments in Norway:

Deepki (
60)
, Zolar (
60)
, Aira (
60)

Akershus Energi, a venture capital fund based in Oslo, invests in early-stage companies focused on energy, climate tech, and green tech. A notable investment is Otovo, a sustainable energy firm. By 2035, Akershus Energi aims to produce 3 TWh of renewable energy to help transition from fossil fuels. Their strategy emphasizes collaboration and innovation, promoting regional growth while preserving nature. Their motto is "More energy. More future. More returns."

25

Offices:

Oslo

Investment Stage:

Series A

Check Size:

$2.5M - $5M

Industries:

Climate Tech & Green Tech, Energy & Nuclear

Top investments in Norway:

Otovo (
40)

A venture capital and private equity firm investing in life science companies in Europe.

23

Offices:

Oslo (HQ)

Stockholm

Investment Stage:

Series A, Series B, Series C, Unknown

Check Size:

$5M - $100M

Industries:

Health Tech, Hardware, AI

Top investments in Norway:

Step Pharma (
56)
, SciRhom (
53)
, ARTHEx Biotech (
41)

SNÖ Ventures, based in Oslo, is a venture capital fund investing in early-stage tech companies. They focus on sectors such as gaming, fintech, AI, and health tech. By partnering with promising startups like Sky Mavis and Speechly, SNÖ Ventures aims to drive growth and innovation in the Nordic region.

19

Offices:

Oslo (HQ)

Investment Stage:

Seed, Series A, Unknown

Check Size:

$100k - $250M

Industries:

Health Tech, Edtech, FinTech

Top investments in Norway:

Sky Mavis (
56)
, PortalOne (
52)
, Ignite Procurement (
31)

nFront Ventures, based in Oslo, is a venture capital fund investing in companies from seed to series A stages, with funding from $500,000 to $20 million. They focus on sectors like supply chain, data, sales, community, and fintech. Notable investments include Two, Unleash, Zadaa, and Cerve. nFront Ventures provides both capital and operational support to help companies grow and reach their full potential.

18

Offices:

Oslo (HQ)

Investment Stage:

Seed, Series A, Unknown

Check Size:

$2.5M - $5M

Industries:

FinTech, Foodtech, Fashion

Top investments in Norway:

Two, Inc. (
41)
, Unleash (
31)
, Zadaa (
25)

Investinor is a venture capital fund based in Trondheim, Norway, managing around $500 million in assets. It invests in companies at various stages, from seed to series funding rounds, with check sizes ranging from $50 million to $200 million. The fund focuses on industries such as technology, health, and media. Notable investments include Calluna Pharma, Novelda, and CardioMech.

17

Offices:

Trondheim (HQ)

Investment Stage:

Seed, Series A, Series B, Series C, Series F, Unknown

Check Size:

$100k - $100M

Industries:

Climate Tech & Green Tech, Health Tech, FinTech

Top investments in Norway:

Xeneta (
52)
, Calluna Pharma (
52)
, Novelda (
40)

We are an early stage venture capital firm based in Oslo, Norway.

17

Offices:

Oslo (HQ)

Investment Stage:

Pre Seed, Seed, Series A, Unknown

Check Size:

$100k - $20M

Industries:

Health Tech, FinTech, Crypto & web3

Top investments in Norway:

Enode (
41)
, Sloyd (
41)
, Vev (
37)

Katapult Accelerator, based in Oslo, is a venture capital fund specializing in early-stage investments, ranging from seed to Series A. They invest between $150,000 and $500,000 in companies across tech, health, and green industries. Notable investments include Sparxell, EcoG, Sand to Green, Syrona Health, and SolarDuck. Katapult seeks scalable businesses that positively impact the environment and society.

17

Offices:

Oslo (HQ)

Investment Stage:

Pre Seed, Seed, Series A, Unknown

Check Size:

$100k - $20M

Industries:

Climate Tech & Green Tech, Health Tech, FinTech

Top investments in Norway:

Sparxell (
41)
, Chooose (
34)
, EcoG (
34)

Borregaard ASA, based in Oslo, is a venture capital fund specializing in seed-stage investments in biotech, manufacturing, agritech, and deep tech. One of its investments is Lignovations. Additionally, Borregaard operates an advanced biorefinery, producing eco-friendly biochemicals, biomaterials, and bioethanol from natural raw materials. With 1,100 employees across 16 countries, the company integrates health, safety, and environmental practices into its operations and is committed to social responsibility. Borregaard also invests significantly in research and development, collaborating with universities and research institutions worldwide.

17

Offices:

Oslo

Investment Stage:

Seed, Series B

Check Size:

$2.5M - $40M

Industries:

Agritech, Biotech, Deep Tech

Top investments in Norway:

Alginor ASA (
34)
, Lignovations (
21)

Offices:

Oslo (HQ)

Investment Stage:

Pre Seed, Seed, Series A, Unknown

Check Size:

$100k - $20M

Industries:

FinTech, Hardware, Mobile

Top investments in Norway:

Two, Inc. (
41)
, Ignite Procurement (
31)
, Unleash (
31)

Idekapital is a company founded in 2016.

15

Offices:

Oslo (HQ)

London

Investment Stage:

Pre Seed, Seed, Series A, Unknown

Check Size:

$100k - $20M

Industries:

Health Tech, FinTech, Foodtech

Top investments in Norway:

Völur (
41)
, Ardoq (
37)
, Favrit (
31)

Norselab is a venture capital fund based in Oslo, investing in sectors such as food delivery, climate tech, and real estate. They focus on seed, Series A, and Series C stages, with check sizes ranging from $3 million to $10 million. Notable investments include Beefutures and Documaster, aiming to create positive and lasting industry change.

14

Offices:

Oslo (HQ)

Investment Stage:

Seed, Series A, Series C, Unknown

Check Size:

$100k - $30M

Industries:

Climate Tech & Green Tech, Agritech, Foodtech

Top investments in Norway:

Ardoq (
37)
, Disruptive Technologies (
28)
, imove (
28)

Offices:

Bergen (HQ)

Investment Stage:

Seed, Series A

Check Size:

$5M - $10M

Industries:

Machine learning, Robotics, Manufacturing

Top investments in Norway:

Remora Robotics (
21)

Link Venture Capital is a Nordic fund based in Stavanger, focusing on early-stage companies with versatile check sizes. They invest in industries such as technology, energy, and health. Notable investments include 7Analytics, Rightcharge, SolarDuck, Evyon, and Fjong. Their aim is to foster growth and innovation across various fields.

12

Offices:

Stavanger (HQ)

Investment Stage:

Pre Seed, Seed, Unknown

Check Size:

$100k - $5M

Industries:

Climate Tech & Green Tech, Health Tech, Edtech

Top investments in Norway:

SolarDuck (
31)
, Skyfri (
30)
, Glint Solar (
25)

Offices:

Oslo (HQ)

Investment Stage:

Pre Seed, Seed, Series A, Unknown

Check Size:

$100k - $10M

Industries:

Climate Tech & Green Tech, Crypto & web3, Deep Tech

Top investments in Norway:

Wsense (
31)
, OTee (
25)
, Adminkit (
21)

Birk Venture is a venture capital fund based in Oslo, focusing on biotech, fintech, and health tech industries. They invest in early-stage companies and have supported businesses like APIM Therapeutics. Their goal is to aid startups at the intersection of technology and health, providing capital and guidance for growth and success.

9

Offices:

Oslo (HQ)

Investment Stage:

Unknown

Check Size:

$100k - $500k

Industries:

Health Tech, FinTech, Biotech

Top investments in Norway:

APIM Therapeutics (
15)

Alytic is a venture capital fund that invests in data-driven businesses requiring transformation and growth. They invest at various stages, providing financial support to help companies scale, with check sizes ranging from $0 to $1,000,000. Alytic's focus is on organizations leveraging data for improvement, aiming to help their portfolio companies achieve lasting success.

1

Offices:

Oslo

Investment Stage:

No data available

Check Size:

$100k - $500k

Industries:

No data available

Top investments in Norway:

No data available

Corinthian Venture Partners is a venture capital fund based in Oslo, focusing on growth companies in technology, life sciences, and renewable energy. They invest in early and growth stages, tailoring check sizes from small to medium based on each company's needs. Corinthian has supported numerous successful enterprises, offering both capital and strategic guidance. The fund aims to foster long-term partnerships, ensuring portfolio companies have the resources and support needed to thrive.

1

Offices:

Oslo (HQ)

Stockholm

Investment Stage:

No data available

Check Size:

$100k - $500k

Industries:

No data available

Top investments in Norway:

No data available

Convexa Capital Ventures, based in Oslo, is a Norwegian venture capital fund that invests in early-stage companies developing breakthrough technologies across various industries. They typically invest between $250k and $5M, supporting startups in their formative years. Convexa has a track record of backing companies that push the boundaries in their fields.

1

Offices:

Oslo (HQ)

Investment Stage:

No data available

Check Size:

$100k - $500k

Industries:

No data available

Top investments in Norway:

No data available

Firda is a venture capital fund based in Oslo, Norway, focusing on Norwegian tech startups. They invest between 1 million and 100 million NOK to help companies grow from early stages to established businesses. Firda seeks to empower local startups to compete globally and support groundbreaking ideas across various industries. Their aim is to transform Norwegian startups into global leaders.

1

Offices:

Oslo (HQ)

Investment Stage:

No data available

Check Size:

$100k - $500k

Industries:

No data available

Top investments in Norway:

No data available

ProVenture is a venture capital fund based in Trondheim that invests in early-stage digital technology startups with sustainable business models. The fund targets companies with strong growth potential, providing financial support and guidance. Investment sizes range from $500k to $10M, offering tailored support to each startup.

1

Offices:

Trondheim (HQ)

Investment Stage:

No data available

Check Size:

$100k - $500k

Industries:

No data available

Top investments in Norway:

No data available

Scatec AS is a cleantech investment group based in Oslo, Norway. They fund companies in the renewable energy sector across various growth stages. Committed to advancing clean energy, Scatec AS supports the development and expansion of renewable energy solutions.

1

Offices:

Oslo (HQ)

Investment Stage:

No data available

Check Size:

$100k - $500k

Industries:

No data available

Top investments in Norway:

No data available

Aker is a venture capital fund based in Oslo, investing in companies at various growth stages with check sizes ranging from $500,000 to $10 million. The fund focuses on multiple industries and actively manages its portfolio through operational improvements, strategic planning, and financial restructuring. Founded on September 8, 2004, Aker employs around 26,000 people, with about 14,000 in Norway, and is publicly traded on the Oslo Stock Exchange.

1

Offices:

Oslo

Investment Stage:

No data available

Check Size:

$100k - $500k

Industries:

No data available

Top investments in Norway:

No data available

Construct Venture, based in Oslo and founded in 2018 by OBOS and AF Gruppen, is a venture capital fund that invests in early-stage and growth companies in the construction and real estate sectors. Focusing on scalable technology, the fund provides both capital and industry expertise. The goal is to enhance the competitiveness of startups and foster an innovative, future-oriented supplier industry. With a deep understanding of the construction and real estate sectors, Construct Venture offers valuable resources to help companies succeed.

1

Offices:

Oslo

Investment Stage:

No data available

Check Size:

$100k - $500k

Industries:

No data available

Top investments in Norway:

No data available