Top 12 Venture Capital Firms in Norway in 2023

The venture capital ecosystem in Norway has undergone major growth over the last decade.

In this article, you will find some of the top venture capital firms in Norway investing across various sectors and industries.

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12 Venture Capital Firms in Norway

1) Verdane

Verdane is a late-stage capital providing growth capital to tech and sustainability companies in Europe.

Details of the VC firm:

• Country: Germany, Finland, Norway, United Kingdom, Denmark, Sweden
• City: Berlin, Copenhagen, London, Stockholm, Helsinki, Asker
• Started in: 2003
• Founders: Bjarne Kveim Lie
• Industries: Consumer, E-Commerce, Marketplace, Climate & Sustainability, Enterprise, SaaS
• Stages: Late Stage
• Minimum check size: €8,000,000
• Maximum check size: €150,000,000
• Number of investments: 395
• Number of exits: 165
• Funds raised: €3,700,000,000
• 3 remarkable investments: Boozt, CAIA Cosmetics, CRF Health

You can find their website here.

You can send them an email at office@verdane.com.

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2) Antler

Antler is a venture capital firm providing early-stage investments and global residency programs to support founders worldwide.

Details of the VC firm:

• Country: Singapore, Germany, Netherlands, Denmark, Portugal, United Kingdom, Spain, Norway, France, Sweden, Australia, India, Vietnam, Indonesia, South Korea, Japan, USA, Canada, Kenya
• City: Berlin, Amsterdam, Copenhagen, Lisbon, London, Madrid, Oslo, Stockholm, Paris, Bangalore, Ho Chi Minh City, Jakarta, Seoul, Tokyo, Austin, Boulder, New York, São Paulo, Toronto, Nairobi, Sydney
• Started in: 2017
• Founders: Magnus Grimeland,Fridtjof Berge, Dilan Mizrakli Landgraff, Vegard Medbo, Jussi Salovaara
• Industries: AI & ML, Consumer, Crypto & Blockchain, Cybersecurity, E-Commerce, Fintech, SaaS, Gaming, Proptech & Real Estate, Internet & Mobile, Food & Beverage, Supply Chain & Logistics, Healthcare, Media
• Stages: Pre-Seed, Seed, Early Stage
• Number of investments: 365
• Number of exits: 3
• Funds raised: $82,200,000
• 3 remarkable investments: ChatFood, Baselime, Genuine Taste

You can find their website here.

You can send them an email at hello@antler.co.

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3) Norfund

Norfund is a government-backed Norwegian fund investing in Sub-Saharan African, Asian and Latin American companies.

Details of the VC firm:

• Country: Norway
• City: Oslo
• Started in: 1998
• Founders: Tellef Thorleifsson
• Industries: Climate & Sustainability, Fintech, Enterprise
• Stages: Early Stage
• Number of investments: 204
• Number of exits: 117
• Funds raised: $3,100,000,000
• 3 remarkable investments: Amartha, Klinchenberg, Rwimi

You can find their website here.

You can send them an email at post@norfund.no.

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4) TRK Group

TRK Group is an Oslo-based investment firm focused on disruptive technologies, digital services and emerging Africa verticals.

Details of the VC firm:

• Country: Norway
• City: Oslo
• Started in: 2015
• Founders: Trond Riiber Knudsen
• Industries: Marketplace, Industrial, Enterprise, Healthcare, DTC
• Stages: Early Stage
• Number of investments: 173
• Number of exits: 26
• 3 remarkable investments: Bifrost, Modulize, Shapemaker

You can find their website here.

You can send them an email at trond@trkgroup.no.

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5) Startuplab

Startuplab is an incubator that provides early-stage capital to Norwegian tech startups.

Details of the VC firm:

• Country: Norway
• City: Oslo, Bergen
• Started in: 2012
• Founders: Alexander Woxen
• Industries: Hardware, Transportation, Big Data & Analytics, Energy
• Stages: Early Stage, Seed
• Minimum check size: $100,000
• Maximum check size: $300,000
• Number of investments: 136
• Number of exits: 1
• Funds raised: $20,200,000
• 3 remarkable investments: Parqio, Campanyon, Vilda

You can find their website here.

You can send them an email at hello@startuplab.no.

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6) Investinor

Investinor is a government-backed investment firm backing Norwegian entrepreneurs.

Details of the VC firm:

• Country: Norway
• City: Trondheim, Oslo
• Started in: 2008
• Founders: Terje Eidesmo
• Industries: Climate & Sustainability, Internet & Mobile, Energy, Healthcare, Marine
• Stages: Early Stage, Seed, Pre-Seed
• Minimum check size: $50,000
• Maximum check size: $300,000
• Number of investments: 120
• Number of exits: 35
• Funds raised: $822,000,000
• 3 remarkable investments: Hemispherian, Bergenbio, Nomono

You can find their website here.

You can send them an email at post@investinor.no.

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7) Luminar Ventures

Luminar Ventures is a Nordic VC firm investing in pre-seed and seed companies.

Details of the VC firm:

• Country: Sweden, Norway, Germany, Vietnam
• City: Stockholm, Asker, Hanoi, Munich
• Started in: 2012
• Founders: Martin Henricson
• Industries: Human Resources, Fintech, Gaming, Enterprise, AI & ML, Automation, API, InsurTech
• Stages: Pre-Seed, Seed, Series A
• Number of investments: 58
• Number of exits: 4
• Funds raised: €132,700,000
• 3 remarkable investments: Muninn, Debricked, Health Integrator

You can find their website here.

You can send them an email at info@luminarventures.com.

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8) Sarsia Seed

Sarsia Seed is a seed investor for early-stage companies building within the pharma, medtech and cleantech industries.

Details of the VC firm:

• Country: Norway
• City: Bergen
• Started in: 2006
• Industries: Biotech, Healthcare, Life Sciences
• Stages: Early Stage
• Minimum check size: $100,000
• Maximum check size: $500,000
• Number of investments: 32
• Number of exits: 10
• Funds raised: $82,000,000
• 3 remarkable investments: SeaSmart, Aquiloz, Delante

You can find their website here.

You can send them an email at jon@sarsia.com.

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9) ProVenture Seed

Based in Norway, ProVenture is a Norwegian seed and early-stage tech investor.

Details of the VC firm:

• Country: Norway
• City: Trondheim, Stavanger
• Started in: 2006
• Founders: Hans Olav Torsen, Herbjørn Skjervold
• Industries: Climate & Sustainability, Social, Supply Chain & Logistics, Big Data & Analytics, SaaS, Energy
• Stages: Seed, Early Stage
• Maximum check size: $1,000,000
• Number of investments: 27
• Number of exits: 40
• Funds raised: $154,000,000
• 3 remarkable investments: Visavi, Defibrio, Numascale

You can find their website here.

You can send them an email at post@proventure.no.

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10) Televenture

Televenture is a Nordic venture capital since 1993.

Details of the VC firm:

• Country: Norway
• City: Oslo
• Started in: 1993
• Founders: Rune Rinnan
• Industries: Industrial, Consumer, Healthcare, Marketplace, SaaS, Oil & Gas, Marine
• Stages: Early Stage, Late Stage
• Minimum check size: $500,000
• Maximum check size: $5,000,000
• Number of investments: 26
• Number of exits: 20
• 3 remarkable investments: Polarworks, CompBuoy, Light Structures

You can find their website here.

You can send them an email at post@televenture.no.

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11) Convexa

Convexa is an early-stage VC firm backing tech founders looking to build global companies.

Details of the VC firm:

• Country: Norway
• City: Oslo
• Started in: 2000
• Founders: Dr. Bjørge Gretland
• Industries: Food & Beverage, Robotics, AI & ML, Consumer, Enterprise, Climate & Sustainability, SaaS
• Stages: Early Stage
• Number of investments: 22
• Number of exits: 3
• 3 remarkable investments: Qmat, Soliant Energy, Solopower Systems

You can find their website here.

You can send them an email at post@convexa.com.

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12) Skagerak Capital

Skagerak Capital is an early-stage VC firm with a preference for deep tech and SaaS sectors.

Details of the VC firm:

• Country: Norway
• City: Kristiansand, Oslo, Skien
• Started in: 2016
• Founders: Erik Edvard Toennesen
• Industries: Deep Tech & Hard Science, SaaS, Climate & Sustainability
• Stages: Early Stage, Seed
• Number of investments: 20
• Number of exits: 0
• Funds raised: $5,100,000
• 3 remarkable investments: Shiftx, Vilmer, Semine

You can find their website here.

You can send them an email at endre@skagerakcapital.com.

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