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  • Writer's pictureKelly Alica Liman

Top 15 VC Funds and Angel Investors in Norway

Sweden and Denmark have been known as breeding grounds for innovative technological businesses in Scandinavia, but there is also another country that presents ample prospects for startups - Norway. Norway's focus on developing its startup ecosystem and accelerating the growth of new enterprises has undoubtedly matured, improving levels of value creation, scalability, and long-term growth across the country. Coupled with their strong orientation towards enterprises that address contemporary issues such as climate change, , and digitization, Norway has built a reputation for itself in the global startup scene. Local venture capital firms are actively investing in new opportunities, and international VCs are becoming interested in the Norway startup ecosystem. In this article, we have compiled a comprehensive list of the top VC funds and angel investors in Norway that may be the right funding partner for you.


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VCs and Angel investors in Norway
VCs and Angel investors in Norway

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Here are a few reasons why startups should consider raising funds in Norway:


1. Access to Capital


Norway has a robust and supportive venture capital ecosystem. There are numerous angel investors, venture capital firms, and government-backed investment programs that offer funding to entrepreneurs at various phases of development. With Norway's economic stability offering a safe base of operations for startups and investors alike, as well as various government incentives and support system, there is significant market confidence about the region's venture capital future.



2. Strong Government Support


The Norwegian government is substantially investing in the Norway startup ecosystem to assist the emergence of new economic growth. The Norwegian government has aggressively pushed startup development initiatives such as tax breaks, subsidies, and the formation of startup assistance and funding programs. For example, the state-owned company "Investinor" provides investments for startups as well as invests in other funds, while "Innovation Norway" provides founders with a variety of support services such as mentorship, advice, seminars, and showcase events. Furthermore, the Norwegian startup ecosystem is very collaborative, with a large network of players from both the public and commercial sectors. As a result, entrepreneurs and startups in the country benefit from a high level of technology and innovation with a comprehensive support structure.



3. Well-Educated Workforce


Norway's concentration on education and research has aided the country in developing a well-educated and productive workforce that startups can draw upon to drive their growth. Norway ranks 11th in terms of the proportion of the population having a postsecondary degree and second in terms of productivity amongst OECD countries. Furthermore, the workforce in Norway is rapidly embracing innovation and digitization, which is critical for the country's competitiveness and economic success.






The venture capitalist funds below are actively looking for investments in promising companies throughout various stages and sectors. The stages stated do not limit the possibility of getting funding if your company is at any stage other than what is listed.



  • Year of Inception: 2012

  • Stage: Pre Seed

  • Focus: Technology

  • Notable Portfolio: Huddly, UX Lab, Airtight, Playfinity, Zendera, Vitroscope


Startuplab Ventures is an incubator and early-stage investor focused on tech startups. They typically invest in the first equity round, providing USD 100,000 to USD 300,000 in return for 10-15% equity. They do not typically take board roles but will be involved in providing assistance and guidance on expanding the firm.



  • Year of Inception: 2008

  • Stage: Pre Seed, Seed, Series A

  • Focus: Energy, Health, Marine, Environmental Technology, Technology

  • Notable Portfolio: Arxx Therapeutics, BerGenBio, Cryogenetics, Farmforce, Numascale


Investinor is an evergreen investment company funded by the Norwegian government and one of Norway's largest venture capital firms. Investinor is in charge of managing the Norwegian government's stake in the seed capital and pre-seed funding schemes, investing in promising firms who want to grow and expand internationally.





  • Year of Inception: 2012

  • Stage: Seed, Series A

  • Focus: EarthTech, Clean Energy, Energy Efficiency and Storage, Circular Economy, Advanced Manufacturing and Materials, Mobility, Food Systems

  • Notable Portfolio: Palmetto, Seal, Liminal, Woltair, Aquabyte


ArcTern Ventures is an earthtech-focused venture capital firm that invests and collaborates with founders who are passionate about tackling humanity's greatest challenges in climate change and sustainability. They work directly with entrepreneurs, giving their knowledge and worldwide network to help them scale innovative technologies that can accelerate the response to climate change.



  • Year of Inception: 2009

  • Stage: Seed, Series A

  • Focus: Life Sciences, Technology, Energy, Sustainability

  • Notable Portfolio: BerGenBio, Nykode, Seafam Solutions, Heimdall Power


Sarsia is a venture capital firm that invests in early-stage companies that are creating a greener, healthier future. They help link startups with the funding, talent, and network needed to grow. They also provide their knowledge and skills to assist new businesses in making their way into the society.





  • Year of Inception: 2016

  • Stage: Seed, Series A

  • Focus: Ocean, Climate, Africa

  • Notable Portfolio: Bio-Me, Clevair, Diwala, Farmforce, TestHub


To build a thriving world for everybody, Katapult VC invests in early-stage, impact-driven tech startups that have a positive impact on the ocean and climate. Aside from providing investments, portfolio companies may also join their business accelerator programs. To date, they have have vetted over 18,000 businesses from over 100 countries and invested in 146 tech startups that are aiming to achieve the United Nations Sustainable Development Goals.



  • Year of Inception: 2016

  • Stage: Seed, Series A

  • Focus: SaaS, Deep Tech, Impact

  • Notable Portfolio: ShiftX, Effera, Sensibel, Semine, Vilmer


Skagerak Capital makes investments in startups that will improve the planet and make the world a better place. They look for early stage startups that operate in deep-tech and SaaS that are building technological advancements to tackle megatrends such as climate change and resource shortages.




  • Year of Inception: 2006

  • Stage: Seed, Series A

  • Focus: Sustainable Digital Technology

  • Notable Portfolio: Wanda, Infotiles, Defibrio, Loop front, Geniess, Cardboard, Sentisystems


ProVenture invests in emerging digital technology firms that aim to create significant economic, social, and environmental value. They manage three funds with a combined value of 1.3 billion NOK, each of which are handled by specialized teams of experienced entrepreneurs based in their offices in Trondheim and Stavanger.



  • Year of Inception: 2015

  • Stage: Seed, Series A

  • Focus: Technology

  • Notable Portfolio: Presail, Portal One, Speechly, Memory, Intellitech, Kitemaker


SNÖ Ventures invests in visionary entrepreneurs who are building revolutionary Nordic digital firms. They seek to strengthen the Nordic ecosystem by encouraging the exchange of resources, people, ideas, and expertise throughout the Nordic area, as well as by utilizing their international networks to assist Nordic enterprises in their worldwide development.





  • Year of Inception: 2000

  • Stage: Seed, Series A

  • Focus: Technology

  • Notable Portfolio: Kalera, Mezonix, Conrobotix, Wirescan, Telecomputing



Convexa is an early-stage investor focused on bringing technology startups to worldwide markets. With extensive experience in scaling companies internationally, Convexa offers entrepreneurs valuable expertise in establishing successful technology firms at every stage of the value chain. They provide startups with wide strategic and operational insights, such as business growth abilities, internationalization know-how, operational efficiency, network expansion, and strategic planning.



  • Year of Inception: 2001

  • Stage: Seed, Series A

  • Focus: Technology

  • Notable Portfolio: Steep, Ripe, Bits, Ark, ShiftX, Aquabyte, Shoreline


Alliance Venture makes early-stage investments in Nordic founders and tech startups with global ambitions. They seek for entrepreneurs who solve real-world issues and enhance the way humans life their life and increasing environmental and social sustainability.




  • Year of Inception: 1993

  • Stage: Series A, Series B

  • Focus: Industrials, Software, Oil & Gas, Marine, Consumer

  • Notable Portfolio: Wavetrain Systems, BerGenBio, CrayoNano, Mazemap


Established in 1993, Televenture is one of the oldest and leading venture capital firm in Norway. Televenture's executive team has extensive venture capital experience as well as general industry expertise in both the local and foreign markets.



  • Year of Inception: 2001

  • Stage: Series B, Series C

  • Focus: Software

  • Notable Portfolio: LeadDesk, Agillic, Encodify, WorkPoint, Flowbox, Tamigo


Viking Venture invests in software scale-ups and assists them in growing their firms. They work alongside entrepreneurs to help them grow by providing an outside viewpoint through mentoring, leading, and coaching. With their extensive expertise in the software industry, they will help startups in creating a scalable, multinational sales pathway, accelerating expansion, securing investments, and achieving a successful exit.



Schibsted Ventures

  • Year of Inception: 2010

  • Stage: Seed, Series A, Series B, Series C

  • Focus: Digital

  • Notable Portfolio: Blocket, Prisjakt, Hitta, TV.nu, Let’s Deal, Lendo


Schibsted Ventures is the corporate venturing arm of Schibsted Media Group, an international media group headquartered in Oslo. They invest in scalable and disruptive digital companies. With their wide network, they assist entrepreneurs and startups in establishing their products, scaling their businesses globally, and maximizing growth in order to become market leaders.






The Angel investors listed below are part of an Angel community located throughout Norway. They may act as an individual or as a syndicate to fund projects of their preference, so these networks are the best opportunity for you to find a potential Angel with an aligned vision and interests.


  • Stage: Seed, Series A

  • Focus: Sector Agnostic

  • Notable Portfolio: -


Scandinavian Investment Network is an angel investing platform that connects entrepreneurs with potential angel investors. Through the platform, startups can post their projects along with their required capital investments and communicate with angel investor members. Startups can also browse through the directory of angel investors that could be in line with their expertise and interests.



  • Stage: Seed, Series A

  • Focus: Sector Agnostic

  • Notable Portfolio: -


Business Angels Norway is Norway's sole trade organization for business angels that connect investors and businesses. They organize regular events and programs in all areas of Noway where angel investors and companies may connect. A startup can also apply to join their online platform CrowdWorks, which they utilize to bring together investors and businesses to co-create value.






Norway possesses all of the raw elements required to establish a successful and vibrant startup environment. The expansion of Norway's startup culture has been aided by the country's stable economy, high quality of living, and well-educated workforce. The impact of new investors joining the market has also started to emerge. The ecosystem continues to evolve and flourish, with Norwegian startups and scaleups now having the opportunity to play a significant and lucrative role in the global ecosystem.












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