Everyone's talking about Stockholm, Sweden and its startup scene, but who are the top investors in the region? There are few places in the world with a higher concentration of early-stage tech startups than Stockholm. Not only is it home to many of Europe's fastest growing companies, but it has become a favorite destination for top venture capitalists to invest.
This article is part of a series where we present you the best Venture Capital firms across different cities and countries. Here you can view the ranking for Stockholm.
Top Venture Capital Firms in Sweden
1. Almi Invest
ALMI Invest is a venture capital company which invests in Swedish companies with exciting, scalable business models and motivated entrepreneurs. ALMI Invest consists of eight regionally based venture capital funds, all with local offices and experienced local investment managers. We manage a total of SEK 1 billion. Unlike most venture capitalists, we can invest in a wide range of businesses. A strong team of entrepreneurs, a scalable business model and an initial revenue stream are more important than the line of business when we invest.
Our first, initial investment would typically be SEK 2-4 million. During the lifetime of an investment, sums of up to SEK 10 million can be ventured. We always syndicate with an investment partner (another venture capitalist or angel investor) from Sweden or otherwise which means that we can take a maximum of 50 percent of an investment round.
ALMI Invest was founded in 2009 by ALMI Fretagspartner together with regional investors. Half of our capital comes from European Union structural funds, which accounts for an investment of SEK 500 million. The other 50 per cent comes from regional investors and ALMI Fretagspartner.
Total fund size: SEK650M
Almi Invest's most notable exits include re:newcell, Plotagon, and IGDB.com.
Creandum is a European early-stage venture capital firm backing some of Europe's most successful tech companies including Spotify, iZettle, Depop, Klarna, KRY, Epidemic Sound and Small Giant Games. Creandum has offices in Stockholm, Berlin, London, and San Francisco.
Total fund size: $1.3B
Creandum's most notable exits include Spotify, iZettle, and Dija.
Industrifonden is a Nordic evergreen venture capital firm with a fund size of $600m, that focuses on early-stage technology and life science companies with international potential.
The company works long term with the entrepreneurs we invest in, and have a strong track record of building game changing companies. Industrifonden-backed companies include tech companies Qlik, Arcam, Soundtrack Your Brand, Fishbrain, and life science companies CellaVision, Oncopeptides and AMRA.
Industrifonden's most notable exits include inRiver, Accedo, and Oncopeptides.
4. EQT Ventures
EQT Ventures is a European VC fund with just over €1.2 billion in total capital raised. EQT Ventures I launched in May 2016, with commitments totaling €566 million and a simple mission - to be the kind of VC the team would have liked to have had on their own startup journeys. Recognizing that building and growing a company takes more than just capital, the EQT Ventures team provides founders with support and advice throughout different stages of growth. EQT Ventures doesn't focus on particular markets or industries, but bold and ambitious founders who have the grit and determination to build global success stories. EQT Ventures II launched in November 2019, with commitments totaling €660 million. The EQT Ventures team is based across six offices in London, Stockholm, Berlin, Paris, Amsterdam, Paris and San Francisco, taking a locals with locals approach and supporting founders on the ground. Motherbrain, EQT Ventures' in-house-developed artificial intelligence (AI) platform, ensures the team has data-driven approach and has driven more than $100 million in portfolio company investments.
Total fund size: $1.4B
EQT Ventures's most notable exits include Verto Analytics, Peltarion, and Wolt.
5. Chalmers Ventures AB
Chalmers Ventures is a Swedish firm that specializes in coaching, financing, and business development. They invest in companies which find themselves at the initial stage of their development. The company was founded in 2015.
Chalmers Ventures AB's most notable exits include Irisity AB (publ), Bokio, and Stayble Therapeutics.
Kinnevik is an industry-focused investment company with an entrepreneurial spirit. Its purpose is to build digital consumer businesses that provide more and better choices. The company does this by working in partnership with talented founders and management teams to create, invest in, and lead fast-growing businesses in developed and emergingmarkets.
Kinnevik believes in delivering both shareholder and social value by building well-governed companies that contribute positively to society.
Kinnevik was founded in 1936 by the Stenbeck, Klingspor, and von Horn families. Kinnevik's shares are listed on Nasdaq Stockholm's list for large-cap companies under the ticker codes KINV A and KINV B.
Kinnevik's most notable exits include Foodpanda, HelloFresh, and Zalando.
HealthCap is a family of multi stage venture capital funds, investing globally in life sciences, with the Odlander Fredrikson Group as their exclusive investments advisor. With committed capital exceeding â‚¬ 800 million, HealthCap is one of the largest specialized provider of venture capital within life sciences Europe.
Total fund size: $429.3M
HealthCap's most notable exits include ChemoCentryx, Ultragenyx Pharmaceutical, and Dynavax Technologies.
EQT is a private equity firm that is headquartered in Stockholm in Sweden. It invests in companies and regions where there is an industrial approach. It has four overall investment strategies, private capital (including ventures, mid-market and equity), real assets (including infrastructure and real estate), credit, and public value, guided by a responsible ownership approach and an industrial growth strategy.
Total fund size: $80.7B
EQT's most notable exits include Sitecore, IFS, and Sportradar.
9. VNV Global
VNV Global is an investment company with the business concept of using experience, expertise and a widespread network to identify and invest in assets with considerable potential for value appreciation. The company has a special focus on online marketplaces and businesses with strong network effects.
The common shares of VNV Global are listed onNasdaq Stockholm, Mid Cap segment, with the ticker VNV.
VNV Global's most notable exits include Swvl, Avito, and Delivery Hero.
VEF is an investment company listed on Nasdaq First North Growth Market in Sweden under the ticker VEFL. We invest in growth stage private fintech companies across the emerging world. We take minority stakes and are active investors with board representation in each of our portfolio holdings. We respect the macro, but are firm believers that the secular growth trend of EM fintech outweighs all the macro uncertainty and volatility that we and our portfolio companies will invariably live through. A digital financial world is the end game and the best companies always come out of pockets of macro and market turbulence in a stronger relative position.
Total fund size: SEK1.1B
VEF's most notable exits include Guiabolso and iyzico.